BMO Capital initiated coverage of Realty Income with a Market Perform rating and $57 price target. The analyst believes Realty Income is “well positioned to acquire accretive investments given its multiple capital sources,” adding that “its asset management platform continues to deliver above peer average operating results.” However, BMO feels that Realty Income’s size “limits its ability to drive outsized performance vs. peers given the volume of acquisitions needed to drive AFFOps growth.”
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