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Realty Income (O) Received its Third Buy in a Row

After Credit Suisse and Jefferies gave Realty Income (NYSE: O) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Ronald Kamdem maintained a Buy rating on Realty Income today and set a price target of $76.00. The company’s shares closed last Tuesday at $69.52.

According to TipRanks.com, Kamdem is a 1-star analyst with an average return of -8.2% and a 50.0% success rate. Kamdem covers the Financial sector, focusing on stocks such as National Storage Affiliates, National Retail Properties, and Hudson Pacific Properties.

Realty Income has an analyst consensus of Moderate Buy, with a price target consensus of $75.27, implying an 8.9% upside from current levels. In a report issued on July 8, Raymond James also maintained a Buy rating on the stock with a $82.00 price target.

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Based on Realty Income’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $807 million and net profit of $199 million. In comparison, last year the company earned revenue of $442 million and had a net profit of $95.94 million.

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Realty Income Corp. is a real estate company, which engages in generating dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. It operates through Rental segment. The company was founded by William E. Clark, Jr. and Evelyn Joan Clark in 1969 and is headquartered in San Diego, CA.

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