Realty Income (O) Declares $0.26 Dividend

Realty Income said on March 14, 2023 that its board of directors declared a regular monthly dividend of $0.26 per share ($3.06 annualized). Previously, the company paid $0.25 per share.

Shares must be purchased before the ex-div date of March 31, 2023 to qualify for the dividend. Shareholders of record as of April 3, 2023 will receive the payment on April 14, 2023.

At the current share price of $63.06 / share, the stock's dividend yield is 4.85%. Looking back five years and taking a sample every week, the average dividend yield has been 4.35%, the lowest has been 3.37%, and the highest has been 6.45%. The standard deviation of yields is 0.50 (n=237).

The current dividend yield is 1.01 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 2.32. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 14.87% Upside

As of March 15, 2023, the average one-year price target for Realty Income is $72.44. The forecasts range from a low of $65.65 to a high of $77.70. The average price target represents an increase of 14.87% from its latest reported closing price of $63.06.

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The projected annual revenue for Realty Income is $3,703MM, an increase of 10.96%. The projected annual non-GAAP EPS is $1.41.

What is the Fund Sentiment?

There are 1791 funds or institutions reporting positions in Realty Income. This is an increase of 39 owner(s) or 2.23% in the last quarter. Average portfolio weight of all funds dedicated to O is 0.48%, an increase of 16.21%. Total shares owned by institutions increased in the last three months by 5.46% to 587,491K shares. The put/call ratio of O is 0.67, indicating a bullish outlook.

What are Large Shareholders Doing?

Cohen & Steers holds 38,594K shares representing 5.84% ownership of the company. In it's prior filing, the firm reported owning 33,495K shares, representing an increase of 13.21%. The firm increased its portfolio allocation in O by 23.90% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 27,278K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 27,120K shares, representing an increase of 0.58%. The firm increased its portfolio allocation in O by 1.94% over the last quarter.

Bank Of America holds 23,050K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 23,435K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in O by 99.90% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 19,055K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 18,416K shares, representing an increase of 3.36%. The firm increased its portfolio allocation in O by 4.14% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 14,583K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 14,216K shares, representing an increase of 2.52%. The firm increased its portfolio allocation in O by 2.69% over the last quarter.

Realty Income Background Information
(This description is provided by the company.)

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with commercial tenants. To date, the company has declared 606 consecutive common stock monthly dividends throughout its 51-year operating history and increased the dividend 109 times since Realty Income's public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats® index.

This story originally appeared on Fintel.