Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc.
NROFinancial Services · Stock · monthly payer
Forward Yield
12.32%
Annual Dividend
$0.37
Payout Ratio
104%
5-Yr Growth
-4.1%
Ex-Date
Jul 15, 2026
Frequency
Monthly
Summary
As of September 2026, Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. (NRO) yields 12.32% ($0.37 per share annually), with a blended fair-value estimate of $3.54 — +30% upside, so it screens as undervalued. Dividend safety grade: C (59/100). 1 years of dividend growth.
Is NRO a good dividend stock?
Yes, with caveatsNeuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. (NRO) pays a monthly dividend yielding 12.32% ($0.37/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2021
- Elevated payout ratio (104%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 12.32%
- Payout Ratio
- 104%
- Annual Dividend
- $0.37
- 5-Yr Avg Growth
- -4.1%
- Ex-Dividend Date
- Jul 15, 2026
- Years of Growth
- 1
- Frequency
- monthly
- Beta
- 1.10
- Market Cap
- $169.5M
- P/E Ratio
- 7.4
- 5-Yr Total Return
- -43%
- 52-Week Range
- $2.71 – $3.29
- Dividend Safety
- C · 59/100
- Ever Cut?
- Yes (2021)
Frequently Asked Questions
NRO Price — Last 12 Months
Daily close
Price Return
1 Year
-15%
3 Years
+10%
5 Years
-43%
52-Week Range
$2.71 – $3.29
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NRO worth?
Undervaluedlow confidenceOur blended fair-value estimate for Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. is $3.54 per share, versus a market price of $2.73. That implies 30% of upside — a margin of safety of about 23%.
Fair Value
$3.54
Current Price
$2.73
Upside
+30%
Margin of Safety
23%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 17.6% annual free-cash-flow growth. We model 4.1% — so the price already assumes faster growth than we think is likely.
Assumptions: 9.8% discount rate (CAPM), 4.1% stage-1 growth, 2.5% terminal growth, $0.36 EPS, $0.37 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NRO Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full NRO dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | — | $0.0310 | regular |
| Aug 17, 2026 | — | $0.0310 | regular |
| Jul 15, 2026 | — | $0.0310 | regular |
| Jun 15, 2026 | — | $0.0310 | regular |
| May 15, 2026 | — | $0.0310 | regular |
| Apr 15, 2026 | — | $0.0310 | regular |
| Mar 16, 2026 | — | $0.0310 | regular |
| Feb 17, 2026 | — | $0.0310 | regular |
| Jan 15, 2026 | — | $0.0310 | regular |
| Dec 15, 2025 | — | $0.0310 | regular |
| Nov 17, 2025 | — | $0.0310 | regular |
| Oct 15, 2025 | — | $0.0310 | regular |
| Sep 15, 2025 | — | $0.0310 | regular |
| Aug 15, 2025 | — | $0.0310 | regular |
Income Calculator
At $0.37 / yr per share
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