Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Cohen & Steers Quality Income Realty Fund, Inc. (RQI)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$30.74 - $55.04$40.95
Multi-Stage$40.44 - $44.19$42.28
Blended Fair Value$41.61
Current Price$12.45
Upside234.25%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.51%4.49%0.961.190.950.960.970.770.780.780.790.78
YoY Growth---19.11%25.16%-1.10%-0.69%25.36%-1.19%-0.03%-0.78%0.83%25.93%
Dividend Yield--7.85%9.70%8.25%5.26%7.79%5.18%7.53%6.20%6.44%6.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)296.36
(-) Cash Dividends Paid (M)258.08
(=) Cash Retained (M)38.28
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)59.2737.0522.23
Cash Retained (M)38.2838.2838.28
(-) Cash Required (M)-59.27-37.05-22.23
(=) Excess Retained (M)-20.991.2416.06
(/) Shares Outstanding (M)134.43134.43134.43
(=) Excess Retained per Share-0.160.010.12
LTM Dividend per Share1.921.921.92
(+) Excess Retained per Share-0.160.010.12
(=) Adjusted Dividend1.761.932.04
WACC / Discount Rate7.95%7.95%7.95%
Growth Rate2.09%3.09%4.09%
Fair Value$30.74$40.95$55.04
Upside / Downside146.94%228.89%342.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)296.36305.52314.95324.68334.71345.05355.40
Payout Ratio87.08%87.67%88.25%88.83%89.42%90.00%92.50%
Projected Dividends (M)258.08267.83277.94288.43299.29310.55328.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.95%7.95%7.95%
Growth Rate2.09%3.09%4.09%
Year 1 PV (M)245.71248.12250.53
Year 2 PV (M)233.93238.53243.18
Year 3 PV (M)222.70229.31236.05
Year 4 PV (M)212.00220.43229.11
Year 5 PV (M)201.81211.89222.37
PV of Terminal Value (M)4,319.844,535.604,759.89
Equity Value (M)5,435.995,683.885,941.12
Shares Outstanding (M)134.43134.43134.43
Fair Value$40.44$42.28$44.19
Upside / Downside224.79%239.61%254.98%

High-Yield Dividend Screener

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