Realty Income Predicted to Achieve $4.01 EPS for FY2023 According to Zacks Research

Analysts from Zacks Research have revised their earnings per share (EPS) predictions for Realty Income Corporation for the fiscal year 2023. In recent projections released to investors, Zacks Research analyst R. Fatarpekar now anticipates the real estate investment trust to report an EPS of $4.01, which is a slight increase from the previous estimate of $3.99. This figure matches the consensus estimate for the company's full-year earnings.

Earnings Adjustments and Predictions

Zacks Research also provided forecasts for future quarters, estimating $1.06 EPS for Q4 2024, $4.14 EPS for FY2024, and $1.06 EPS for Q2 2025. Realty Income's latest earnings were publicized for the quarter ending on November 6th, showcasing a reported EPS of $0.33, which fell short of the anticipated $1.00 by $0.67. However, their reported quarterly revenue was $1.04 billion, exceeding analyst expectations.

Market and Analyst Insights

Other equity research analysts have also delivered reports on O stock. Wells Fargo & Company commenced coverage with an "equal weight" rating and a $59 price target. Mizuho adjusted their price target from $61 to $48 while maintaining a "neutral" rating. Additionally, TheStreet downgraded Realty Income from "b-" to "c+", while Scotiabank shifted from a "sector outperform" to "sector perform" rating, reducing their price target further. Conversely, StockNews.com upgraded Realty Income from a "sell" to a "hold" rating. The average rating from ten research analysts is a "Hold" with an average price target of $60.90.

Stock Performance and Dividend Information

Realty Income's stock began trading at $53.31 with a PE ratio of 40.39. The company has kept a consistent track record with its dividend yield, announcing a dividend to be paid on December 15th to shareholders on record as of December 1st, exhibiting a 6.1% yield.

Investment and Hedge Fund Activity

Several hedge funds have adjusted their stakes in Realty Income, with various investments mentioned suggesting a continued financial interest in the company's performance.

About Realty Income

Structured as a real estate investment trust, Realty Income is branded as 'The Monthly Dividend Company', and is part of the S&P 500 Dividend Aristocrats index. Its dividend is supported by a vast portfolio of over 13,250 properties under long-term net lease agreements.

Earnings, Forecast, Zacks