As previously reported, Scotiabank analyst Greg McGinniss upgraded Realty Income to Outperform from Sector Perform with a price target of $69, up from $68. The firm believes stricter lending requirements across the CRE market translates into a "competitive advantage" for Realty Income given that it has ready access to unsecured debt/equity funding to help capture market share for new acquisitions. Realty Income’s lower cost of capital compared to peers, A-rated balance sheet, and scale position it to take advantage of the net lease transaction market, the firm contends.
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Published first on TheFly
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