From 24/7 Wall St. · Alex Sirois · · 1m 20s
Realty Income Slips 3 Months, Wall Street Hopes for 30% Gain
Realty Income shares drop for three months as Wall Street analysts predict near 30% gains for the dividend powerhouse.
In brief
Realty Income shares drop for three months as Wall Street analysts predict near 30% gains for the dividend powerhouse. Realty Income shares fell 3 months below Wall Street consensus, but two analysts target $72, implying near 30% gains. Originally reported by 24/7 Wall St..
Realty Income Shares Drop
Realty Income trades at $56.63, below Wall Street consensus target of $68.16, leaving a 20% gap.
Two Wall Street Analysts Target $72
Bank of America’s Jeffrey Spector and UBS’s Michael Goldsmith both set a target of $72.00, implying near 30% upside.
Treasury Yield Pushed to 5.01%
The 10-year Treasury yield rose to 5.01%, its highest reading of the past year, up 0.36 percentage points in a month.
Q2 Earnings Missed Consensus
Realty Income’s Q2 GAAP EPS of $0.37 missed the $0.4227 consensus by 12.47%, weighed by a $54.2 million real estate impairment.
Analysts Favor Conservative Targets
Twenty-four analysts cover Realty Income: 3 Strong Buys, 5 Buys, 15 Holds, 0 Sells, and 1 Strong Sell.
Data Center JV Boosts Growth
Realty Income announced a $6 billion hyperscale data center joint venture with Cloud Capital, expanding investment volume to $10 billion.
Wall Street Sees 30% Upside Potential
Realty Income’s shares are up 4.02% year to date versus the S&P 500’s 13.43%, with a 27% gap to the $72 target.
Here's the gist
Realty Income shares fell 3 months below Wall Street consensus, but two analysts target $72, implying near 30% gains.
