Realty Income Corporation (O) Dividend Date & Dividend History - Stock Analysis & Payment Information

Realty Income Corporation - O - Market Position

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Stock Ticker Home Page Asset Class Sector Industry Investment Strategy Dividend Frequency Geographic Focus
O Realty Income Corporation Stock / Equity Real Estate REIT - Retail Income Monthly U.S.

O, or Realty Income Corporation, is a well-established real estate investment trust (REIT) renowned for its consistent dividends and stable returns. With a focus on owning and leasing freestanding commercial properties to tenants across various industries, Realty Income has earned a reputation as a reliable income-generating investment. In this article, we delve into the fundamentals of O dividend stock, examining its investment appeal, dividend history, and the factors influencing its performance in the market.

Realty Income Corporation - O - Current Market Data

Realty Income Corporation - O - Business Overview

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Section Information


Realty Income (O) is a leading net-lease REIT specializing in single-tenant commercial properties. They primarily own and operate essential businesses like grocery stores, drugstores, dollar stores, and convenience stores. O boasts a diverse portfolio across the US and Europe, catering to a broad target market with a market share of approximately 5% within the net-lease REIT industry. Their mission statement is "to provide dependable monthly dividends that increase over time," reflecting their commitment to shareholder value creation through consistent income streams.

Business Model:

O generates revenue primarily through rental income from its leased properties. They operate with a tenant-centric model, offering long-term net leases with strong creditworthy tenants. This ensures predictable revenue streams and minimizes operating expenses. O's value chain involves property acquisition, tenant management, property maintenance, and rent collection. They partner with real estate brokers, property managers, and construction companies to effectively manage their portfolio.

Industry Competition:

O's main competitors include other net-lease REITs like National Retail Properties (NNN), STORE Capital Corporation (STOR), and W. P. Carey (WPC). Recent trends in the industry include increased demand for essential businesses, rising interest rates, and consolidation among smaller players. These trends favor O's strong tenant relationships, diversified portfolio, and robust financial position.

Competitive Advantages:

Proven Track Record: O boasts a 64-year history of uninterrupted dividend increases, showcasing its commitment to shareholder value and financial stability.
Diversified Portfolio: O's exposure across various industries and geographies mitigates risk and provides a steady income stream.
Strong Tenant Relationships: O focuses on long-term leases with creditworthy tenants, minimizing vacancy rates and ensuring predictable rent collection.
Experienced Management Team: O's leadership possesses a proven track record in identifying and acquiring high-quality properties, further strengthening its competitive edge.

Management Team:

O's management team is led by CEO, President, and Chairman, Sumit Malhotra, who has extensive experience in the commercial real estate industry. Other key executives include Chief Financial Officer, Scott Schafer, and Chief Investment Officer, Kenneth Woolpert, both seasoned professionals with strong financial and acquisition expertise.

Financial Performance:

O has consistently demonstrated strong financial performance with stable revenue growth, increasing profitability, and a robust balance sheet. Recent financial highlights include:

  • Revenue: $1.55 billion in Q3 2023, representing 7% year-over-year growth.
  • Net Income: $343.3 million in Q3 2023, a 12% increase compared to Q3 2022.
  • EPS: $0.27 in Q3 2023, up from $0.25 in Q3 2022.

Investment Thesis:

O presents a compelling option for income-focused investors seeking:

  • Stable and Growing Dividends: O's 64-year track record of dividend increases and strong financial fundamentals make it a reliable income source.
  • Resilient Cash Flow: O's focus on essential businesses offers predictable rental income even in economic downturns.
  • Diversification Benefits: O's diversified portfolio mitigates risk and provides exposure to various industries and geographies.

However, investors should also consider:

  • Limited Growth Potential: O's focus on income generation comes at the expense of rapid capital appreciation.
  • Interest Rate Sensitivity: O's reliance on debt financing makes it susceptible to rising interest rates, potentially impacting its profitability and dividend payments.


Realty Income (O) remains a strong contender for income investors seeking stability, a proven dividend track record, and diversification across essential businesses. Its solid financial position, experienced management, and resilient cash flow provide a solid foundation for continued dividend growth. However, investors should consider the limited growth potential and interest rate sensitivity before making an investment decision.

O Dividend Analysis

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Section Details

O Dividend Data

Realty Income Corporation (O) has an annual dividend of $3.08 per share. The dividend is paid every month. The last ex-dividend date was on February 29, 2024.

O Dividend Yield

The forward yield of O is 5.45%. This means that for every $100 invested in the company's stock, investors would receive $5.45 in dividends per year.

O Dividend History

Realty Income Corporation (O) has a history of consistent dividend payments. For instance, the company announced on March 13, 2024, that shareholders of record as of March 28, 2024, would receive a dividend of $0.25 per share on April 15, 2024.

O Dividend Payout & Dividend Payout Ratio

The dividend payout ratio for Realty Income Corporation is 242.78%. This is the percentage of the company's earnings paid out as dividends.

O Dividend Stability & Growth

Realty Income Corporation (O) dividend payments per share have shown an average growth of 2.98% over the past 36 months. However, the payout ratio is 243.4%, which may not be sustainable.

O Chart

O Comparative Analysis

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Realty Income (O) Simon Property Group (SPG) Kimco Realty (KIM)

Industry Focus

Real Estate Real Estate Real Estate

Current Yield

5.91% 5.02% 5.29%

Price-to-Earnings Ratio (P/E)

41.46 22.26 19.06

Investment Strategy

Stable monthly dividends for long-term income. Retail sector rebound; premium property investments. Retail recovery play; strategic property locations.

Real Estate Stocks



Technical Analysis

Additional Considerations

Investing in Realty Income Corp (O), a U.S. based REIT, comes with its own set of considerations. The company's monthly dividends, a result of its performance and management's strategy, have been a significant attraction for investors. However, it's essential to understand the risks associated with such an investment. Realty Income's dividend payout is tied to its earnings and cash flow, primarily from its commercial property leases. Any uncertainty in these areas could impact the dividend payout. For instance, the company's debt and liability could affect its net lease cash flow, potentially leading to a decrease in the dividend payout. Furthermore, changes in the capital markets could influence the stock price, affecting the yield that shareholders receive.

The company has a history of increasing its dividend payout, but this trend is not guaranteed to continue. Investors should pay close attention to the next ex-dividend date, the declared dividend, and the payout ratio. These metrics, along with an analysis of the company's earnings, provide an overview of the company's financial health. Websites like TipRanks offer valuable insights and allow users to create a free account for more detailed information. Remember, past performance, including consecutive years of dividend increase and historical dividend data, does not guarantee future results. Each investment decision should be made with respect to the individual's retirement goals and risk tolerance.