Information Provided By:
Fly News Breaks for February 28, 2020
O
Feb 28, 2020 | 07:45 EDT
Stifel analyst Simon Yarmak believes Realty Income was "wise" to lock in "attractive" equity at a time when heightened fears of a further spread of the coronavirus is pressuring equity markets. The estimated net proceeds of about $768.5M can be used to partially pay down the outstanding balance on its credit facility, said Yarmak, who notes that the deal was priced at a net 4.65% cap rate. The analyst, who thinks Realty Income should outperform as there could be a "flight to quality" in the current environment of heightened volatility, keeps a Buy rating and $84 price target on the shares.
News For O From the Last 2 Days
O
May 23, 2022 | 06:33 EDT
Wolfe Research analyst Andrew Rosivach downgraded Realty Income to Peer Perform from Outperform with a $73 price target, citing valuation as well as sector wide headwinds that include a lack of repricing power in a high inflationary environment owing to long term leases and pressure on investment spreads as acquisition cap rates stick. The stock has significantly outperformed peers since mid-March, but its valuations does not seem to have priced in the headwinds noted, Rosivach tells investors.