Essential Properties (EPRT) came out with quarterly funds from operations (FFO) of $0.48 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.43 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post FFO of $0.47 per share when it actually produced FFO of $0.46, delivering a surprise of -2.13%.Over the last four quarters, the company has not been able to surpass consensus FFO estimates.Essential Prope ...

Agree Realty (ADC) came out with quarterly funds from operations (FFO) of $1.1 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to FFO of $1.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of +1.85%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.06 per share when it actually produced FFO of $1.06, delivering no surprise.Over the last four quarters, the co ...

Core Viewpoint - Realty Income Corp. is preparing for its upcoming earnings release on November 3, 2025, with expectations of a modest increase in both EPS and revenue compared to the previous year [2][3]. Company Performance - Realty Income Corp. closed at $59.46, reflecting a gain of 1.05% from the previous trading session, outperforming the S&P 500's gain of 0.4% [1]. - Over the last month, the company's shares have decreased by 1.9%, underperforming the Finance sector's loss of 1.05% and the S&P 500's gain of 1.02% [1]. Earnings Estimates - The anticipated EPS for the upcoming quarter is $1.07, representing a 1.9% increase year-over-year [2]. - The revenue estimate for the same quarter is $1.42 billion, indicating a 6.65% increase compared to the previous year [2]. - For the annual period, the Zacks Consensus Estimates predict earnings of $4.27 per share and revenue of $5.62 billion, reflecting increases of 1.91% and 6.7% respectively from the last year [3]. Analyst Sentiment - Recent changes in analyst estimates for Realty Income Corp. suggest a favorable outlook on the company's business health and profitability [3]. - The Zacks Rank for Realty Income Corp. is currently 3 (Hold), with the consensus EPS estimate having increased by 0.03% in the past month [5]. Valuation Metrics - Realty Income Corp. has a Forward P/E ratio of 13.8, which is in line with the industry average [6]. - The company has a PEG ratio of 4.49, compared to the industry average of 2.85, indicating a higher valuation relative to expected earnings growth [7]. Industry Context - The REIT and Equity Trust - Retail industry, to which Realty Income Corp. belongs, has a Zacks Industry Rank of 72, placing it in the top 30% of over 250 industries [8].

Core Insights - Realty Income Corp. (O) experienced a -1.04% change in its stock price, closing at $59.01, which lagged behind the S&P 500's daily gain of 0.58% [1] - The upcoming earnings report on November 3, 2025, is anticipated to show an EPS of $1.06, reflecting a 0.95% increase year-over-year, with projected revenue of $1.41 billion, indicating a 6.01% increase compared to the previous year [2] - For the full year, earnings are projected at $4.26 per share and revenue at $5.6 billion, showing increases of +1.67% and +6.33% respectively from the prior year [3] Analyst Estimates and Stock Performance - Recent modifications to analyst estimates for Realty Income Corp. are crucial as they reflect short-term business trends, with positive revisions indicating analysts' confidence in the company's performance [4] - Estimate alterations are linked to stock price performance, and the Zacks Rank system is designed to leverage this relationship, providing actionable ratings [5] Zacks Rank and Valuation - Realty Income Corp. currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having increased by 0.02% in the past month [6] - The company has a Forward P/E ratio of 13.99, which is a premium compared to its industry's Forward P/E of 13.85 [7] - The PEG ratio for Realty Income Corp. stands at 4.56, higher than the industry average PEG ratio of 3.03 [8] Industry Context - The REIT and Equity Trust - Retail industry, part of the Finance sector, has a Zacks Industry Rank of 51, placing it in the top 21% of over 250 industries [9]

Core Viewpoint - Macerich's stock experienced a significant rally of 6.8% to close at $17.9, driven by increased trading volume and a stock rating upgrade from B of A Securities from "neutral" to "buy" [1]. Financial Performance Expectations - The upcoming quarterly funds from operations (FFO) for Macerich are expected to be $0.37 per share, reflecting a year-over-year decline of 2.6%. Revenue is projected to be $256.34 million, which is an increase of 16.4% compared to the same quarter last year [2]. - The consensus estimate for FFO per share has been revised slightly higher over the past 30 days, indicating a positive trend that typically correlates with stock price appreciation [3]. Industry Context - Macerich is categorized under the Zacks REIT and Equity Trust - Retail industry, holding a Zacks Rank of 3 (Hold). Another company in the same industry, Realty Income Corp., saw a 0.9% increase in its stock price, closing at $60.32, with a 2.9% return over the past month [4]. - Realty Income Corp.'s consensus estimate for FFO per share remains unchanged at $1.07, representing a year-over-year increase of 1.9%, and it also holds a Zacks Rank of 3 (Hold) [5].

Company Performance - Simon Property reported Q2 2025 real estate FFO per share of $3.05, exceeding the Zacks Consensus Estimate of $3.04 and up from $2.93 a year ago [3] - The company generated revenues of $1.50 billion in the quarter, slightly missing the Zacks Consensus Estimate of $1.51 billion, but reflecting a 2.8% year-over-year increase [4] - Lease income revenues were $1.38 billion, a 4.8% increase compared to the prior year [5] - Occupancy for the U.S. Malls and Premium Outlets portfolio was 96%, up 40 basis points from 95.6% a year ago [5] - The base minimum rent per square foot increased to $58.70, a rise of 1.3% from $57.94 a year ago [5] - Domestic property net operating income (NOI) increased by 4.2% year over year, while portfolio NOI rose by 4.7% [6] Strategic Moves - In June 2025, Simon Property acquired its partner's stake in the retail and parking facilities at Brickell City Centre in Miami, FL, gaining full ownership of the asset [7] Financial Position - As of the end of Q2 2025, Simon Property had $9.2 billion in liquidity, which included $1.8 billion in cash and $7.4 billion in available capacity under revolving credit facilities [8] 2025 Outlook - The company has narrowed its outlook for 2025 real estate FFO per share to a range of $12.45 to $12.65, raising the midpoint to $12.55 [9] Market Sentiment - Recent estimates for Simon Property have shown a downward trend, indicating a shift in market sentiment [10][13] - The stock currently holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [13] Industry Comparison - Simon Property is part of the Zacks REIT and Equity Trust - Retail industry, where another player, Kimco Realty, has gained 4.5% over the past month [14]

Company Performance - Macerich reported quarterly funds from operations (FFO) of $0.32 per share, missing the Zacks Consensus Estimate of $0.34 per share, and down from $0.44 per share a year ago, representing an FFO surprise of -5.88% [1] - The company posted revenues of $249.79 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.35%, compared to year-ago revenues of $215.52 million [2] - Over the last four quarters, Macerich has surpassed consensus revenue estimates four times, but has only exceeded consensus FFO estimates once [2] Stock Performance - Macerich shares have declined approximately 16.2% since the beginning of the year, contrasting with the S&P 500's gain of 8.6% [3] - The current consensus FFO estimate for the coming quarter is $0.36 on revenues of $250.05 million, and for the current fiscal year, it is $1.48 on revenues of $1.02 billion [7] Industry Outlook - The REIT and Equity Trust - Retail industry, to which Macerich belongs, is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook [8]

Core Insights - The Zacks REIT and Equity Trust - Retail industry is well-positioned to leverage favorable market conditions, with strong consumer spending and limited new development supporting healthy fundamentals [1] - The industry is experiencing a rebound driven by renewed consumer interest in in-store shopping, despite facing challenges from e-commerce expansion and macroeconomic pressures [2][5] Industry Overview - The industry comprises REITs that own, develop, manage, and lease various retail properties, including regional malls and grocery-anchored shopping venues [2] - Key demand drivers include geographic location and demographics, with a positive shift in the retail landscape noted [2] Future Trends - Experiential retail and omnichannel integration are revitalizing the sector, with physical stores transforming into immersive destinations that enhance customer engagement [3] - Solid leasing demand from consumer service providers and cross-border entrants is diversifying the tenant base and driving long-term occupancy stability [3] Supply and Demand Dynamics - Retail REITs benefit from a constrained supply pipeline, with limited new construction due to high building costs and labor shortages, leading to historically tight national vacancy rates [4] - Many REITs are redeveloping underperforming assets and adding non-traditional tenants, enhancing portfolio durability [4] Macroeconomic Challenges - High interest rates, inflation, and tariff changes are pressuring retailers, leading to delayed leasing decisions and increased store closures [5] - E-commerce penetration is dampening demand for traditional retail space, particularly in commodity-driven segments [5] Industry Performance - The Zacks REIT and Equity Trust - Retail industry has underperformed the broader Zacks Finance sector and the S&P 500 over the past year, declining 5.5% compared to the S&P 500's rise of 19.4% [10] - The industry is currently trading at a forward 12-month price-to-FFO of 14.62X, below the S&P 500's forward P/E of 22.54X [13] Stock Recommendations - **Brixmor Property Group Inc. (BRX)** focuses on open-air shopping centers with a balanced tenant base, currently has a Zacks Rank 2, and its FFO per share estimate has been revised upward to $2.23, indicating a 4.7% year-over-year increase [17][19] - **Phillips Edison & Company, Inc. (PECO)** specializes in grocery-anchored shopping centers, managing 327 centers with a Zacks Rank 2, and its FFO per share estimate for 2025 has been revised to $2.58, reflecting a bullish outlook [21][24] - **Urban Edge Properties (UE)** operates in densely populated regions with a focus on essential retailers, holding a Zacks Rank 2, and its FFO per share estimate has been raised to $1.40, indicating a 3.7% year-over-year increase [26][28]

分组1 - Realty Income Corp. reported quarterly funds from operations (FFO) of $1.05 per share, missing the Zacks Consensus Estimate of $1.06 per share, and showing a decrease from $1.06 per share a year ago, resulting in an FFO surprise of -0.94% [1] - The company posted revenues of $1.41 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.04%, compared to year-ago revenues of $1.34 billion, and has topped consensus revenue estimates two times over the last four quarters [2] - The current consensus FFO estimate for the coming quarter is $1.07 on $1.41 billion in revenues, and for the current fiscal year, it is $4.27 on $5.61 billion in revenues [7] 分组2 - The stock's immediate price movement will depend on management's commentary on the earnings call and the sustainability of FFO expectations [3] - The estimate revisions trend for Realty Income Corp. was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The REIT and Equity Trust - Retail industry is currently in the top 35% of Zacks industries, suggesting that the outlook for the industry can significantly impact the stock's performance [8]

Core Viewpoint - Realty Income Corporation (O) is expected to report its second-quarter 2025 results on August 6, with adjusted funds from operations (AFFO) estimated at $1.06 per share and revenues at $1.40 billion, indicating a year-over-year revenue increase of 4.2% but no growth in AFFO per share [1][2][7]. Financial Performance - The Zacks Consensus Estimate for second-quarter 2025 AFFO per share has remained unchanged at $1.06, suggesting no growth year over year [2]. - The estimated revenues for the current year are projected at $5.61 billion, reflecting a 6.5% increase year over year [2]. - Over the past four quarters, Realty Income's AFFO per share has surpassed estimates once, met them twice, and missed once [4]. Operational Insights - Realty Income maintains a high occupancy rate of 98.5%, which is expected to remain above 98% for the full year, supporting stable cash flow and earnings [9]. - The company's diversified portfolio includes essential-service tenants, which ensures dependable rental income [8][10]. - Strategic expansions into sectors like data centers and gaming, along with European market entry, are anticipated to contribute to revenue growth [10]. Strategic Initiatives - Realty Income's investments in Encore Boston Harbor and Bellagio Las Vegas, along with a partnership with Digital Realty, highlight its focus on long-term growth and diversification [10]. - The company targets $4 billion in investments for 2025, indicating a proactive approach to portfolio enhancement [10]. Financial Health - As of March 31, 2025, Realty Income holds strong investment-grade credit ratings (A3 from Moody's and A- from S&P), indicating a solid financial position [11]. - The company has a manageable net debt of approximately $27.64 billion and a well-structured debt maturity schedule, which enhances financial flexibility [11][13]. Market Performance - Realty Income's shares have increased by 7.6% year-to-date, closing at $57.45, while the Zacks REIT and Equity Trust - Retail industry has declined by 10.0% [14]. - The stock is trading at a forward 12-month price-to-FFO of 13.19X, which is below the industry average of 14.58X, suggesting a potential valuation opportunity [16]. Investment Appeal - Realty Income offers a blend of income stability and long-term growth potential, supported by its diversified portfolio and essential-service tenant base [17]. - The company has a dividend yield of 5.62%, making it attractive for income-focused investors [17].