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Realty Income Corp. (O) Laps the Stock Market: Here's Why
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In the latest trading session, Realty Income Corp. (O - Free Report) closed at $47.99, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.64%.
Shares of the real estate investment trust have depreciated by 3.09% over the course of the past month, outperforming the Finance sector's loss of 3.19% and lagging the S&P 500's loss of 2.21%.
The investment community will be paying close attention to the earnings performance of Realty Income Corp. in its upcoming release. The company is slated to reveal its earnings on November 6, 2023. The company's earnings per share (EPS) are projected to be $1, reflecting a 2.04% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.04 billion, indicating a 23.72% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.01 per share and a revenue of $4.06 billion, demonstrating changes of +2.3% and +21.37%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Realty Income Corp. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Right now, Realty Income Corp. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Realty Income Corp. is at present trading with a Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 11.49, so one might conclude that Realty Income Corp. is trading at a premium comparatively.
It is also worth noting that O currently has a PEG ratio of 2.36. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 2.45 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Realty Income Corp. (O) Laps the Stock Market: Here's Why
In the latest trading session, Realty Income Corp. (O - Free Report) closed at $47.99, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.64%.
Shares of the real estate investment trust have depreciated by 3.09% over the course of the past month, outperforming the Finance sector's loss of 3.19% and lagging the S&P 500's loss of 2.21%.
The investment community will be paying close attention to the earnings performance of Realty Income Corp. in its upcoming release. The company is slated to reveal its earnings on November 6, 2023. The company's earnings per share (EPS) are projected to be $1, reflecting a 2.04% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.04 billion, indicating a 23.72% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.01 per share and a revenue of $4.06 billion, demonstrating changes of +2.3% and +21.37%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Realty Income Corp. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Right now, Realty Income Corp. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Realty Income Corp. is at present trading with a Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 11.49, so one might conclude that Realty Income Corp. is trading at a premium comparatively.
It is also worth noting that O currently has a PEG ratio of 2.36. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 2.45 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.