Zacks Research Weighs in on Realty Income Co.’s Q3 2023 Earnings (NYSE:O)

Posted by Defense World Staff on Jun 26th, 2023

Realty Income Co. (NYSE:O – Get Rating) – Equities researchers at Zacks Research reduced their Q3 2023 EPS estimates for Realty Income in a research report issued on Friday, June 23rd. Zacks Research analyst N. Dass now forecasts that the real estate investment trust will earn $1.00 per share for the quarter, down from their previous forecast of $1.01. The consensus estimate for Realty Income’s current full-year earnings is $4.02 per share. Zacks Research also issued estimates for Realty Income’s FY2023 earnings at $3.99 EPS, Q1 2024 earnings at $1.02 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $4.15 EPS and Q1 2025 earnings at $1.05 EPS.

Several other research firms have also weighed in on O. Mizuho dropped their price objective on shares of Realty Income from $69.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, March 9th. Scotiabank upgraded shares of Realty Income from a “sector perform” rating to a “sector outperform” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 12th. Stifel Nicolaus upped their price objective on shares of Realty Income from $71.00 to $71.25 in a research note on Thursday, May 4th. Finally, StockNews.com began coverage on shares of Realty Income in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.03.

Realty Income Stock Down 1.2 %

O stock opened at $58.76 on Monday. Realty Income has a 52-week low of $55.50 and a 52-week high of $75.11. The company’s 50 day simple moving average is $60.87 and its 200-day simple moving average is $63.16. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $39.56 billion, a P/E ratio of 41.38, a P/E/G ratio of 2.92 and a beta of 0.80.

Hedge Funds Weigh In On Realty Income

Hedge funds have recently made changes to their positions in the business. Graham Capital Wealth Management LLC acquired a new stake in Realty Income in the 1st quarter valued at about $201,358,000. DT Investment Partners LLC acquired a new stake in Realty Income in the 1st quarter valued at about $25,000. Compass Wealth Management LLC acquired a new stake in Realty Income in the 4th quarter valued at about $25,000. Aspire Private Capital LLC acquired a new stake in Realty Income in the 1st quarter valued at about $26,024,520,000. Finally, Tucker Asset Management LLC acquired a new stake in Realty Income in the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 80.52% of the company’s stock.

Realty Income Increases Dividend

The firm also recently disclosed a jun 23 dividend, which will be paid on Friday, July 14th. Stockholders of record on Monday, July 3rd will be paid a $0.2555 dividend. This is a boost from Realty Income’s previous jun 23 dividend of $0.26. The ex-dividend date of this dividend is Friday, June 30th. This represents a dividend yield of 5%. Realty Income’s dividend payout ratio is currently 215.49%.

About Realty Income

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Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 12,200 real estate properties primarily owned under long-term net lease agreements with commercial clients.