Is It Too Late to Buy Realty Income?
After a slump caused by the shutdowns and stay-ins of the coronavirus pandemic, the retail sector is coming back. As it does, bellwether retail real estate investment trust (REIT) Realty Income (NYSE: O) is riding alongside it. The company's stock has generally appreciated over the past year or so, to the point where it's only a few dollars short of its five-year high.
That's a very lofty perch. Despite its many advantages as a company, Realty Income's stock is not cheap. Let's take a closer look at the state of the company to see if it's still worth buying at this relatively pricey level.
As clever businesses do, Realty Income took advantage of a down period to do some shopping. It struck a deal to acquire retail REIT peer Vereit in the coronavirus-plagued month of April 2021, in a transaction with an enterprise value of roughly $50 billion. The deal closed last November.
Source Fool.com
