Mizuho lowered the firm’s price target on Realty Income to $56 from $60 and keeps a Buy rating on the shares. The analyst believes the triple net real estate investment trust sector is one of the best risk-adjusted growth stories across all of REITs. The subsector has benefited from an improved cost of capital since last October, while interest rates have settled and cap rates have ticked up, the analyst tells investors in a research note. The firm updated models to reflect the Q4 earnings results and subsequent financing transaction activity.
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