1 Wall Street Analyst Thinks Realty Income Stock Is Going to $59. Is It a Buy?
analyst Vikram Malhotra revisited his rating on Realty Income (NYSE: O) last week, maintaining a buy rating on the stock and boosting the retail real estate investment trust (REIT)'s price target from $56 to $59 per share.
Many investors have steered away from REIT stocks in recent months. That makes sense on the surface as high dividend yields have competition from similarly high yields offered by online savings accounts, certificates of deposit, and bonds. Some REIT stocks have also suffered over concerns with commercial real estate. But the best times to buy stocks can be when sentiment is negative and stocks are down.
Some investors have already realized there are compelling reasons to buy Realty Income stock. Shares have recovered from 2024 lows over the last month. But Mizuho analysts think there's more room to rise from Realty's recent share price of about $55. Part of the reason for that is the subsector in which Realty Income operates.
Source Fool.com
