Realty Income Corp (NYSE: O), a real estate investment trust (REIT), noted $3.30 Billion revenue for last year, most of which almost $2.73 Billion came from its highest performing source at the moment, Retail. Meanwhile, the greatest contribution to the revenue figure was made by the U.S., bringing Realty Income Corporation $3.00 Billion last year.
On June 29, 2023, yesterday, the company mentioned in its press release (PR) “in April and May 2023, it invested around $2.6 Billion in properties and properties under development or expansion, with an initial weighted average cash lease yield of nearly 6.8%.”
In the first quarter of this year, the company invested nearly $1.7 Billion in 339 properties and properties under development or expansion, both in the U.S. and Europe.
Its capital raising as per its PR, “under its at-the-market (ATM) program, were 39.4 Million shares of the company’s common stock subject to forward sale agreements as of June 26, 2023. O had 25.3 Million shares available for future issuance under its ATM program.”
Additionally, on the liquidity front, Realty Income Corp noted that “it had a cash and cash equivalents balance of approximately $278.8 Million, including funds denominated in Sterling and Euro,” as of June 26, 2023.
O Stock Price Analysis
O stock price closed at $60.22 with a 0.12% gain in yesterday’s trading session. The opening price of the stock was $59.88, high was $60.24, while low was $59.61. As the bulls have shown their potential, O stock price reached its 20-day moving average. The RSI of stock seems like it is trying to take a surge but needs massive bulls support.
However from the above price chart, the pre-market price of O stock showed little price decline which is at $60.10. This little price decline shows the O stock price experienced bears dominance in its pre-market session.
Moving forward, its 1-year price target set by analysts is $69.48, which shows more than 15% growth from the recent closing price of O stock. Meanwhile, the maximum estimate set by the analysts is at $74.00, while the minimum estimate is at $65.00.
Since the past 1-month, the O stock price has followed a bullish trend, but heading towards the weekend, the stock price is showing little price decline in the pre-market session. If the downside trend is continuously followed on June 30, 2023, Friday’s trading session, then the O stock price may note a reverse price movement.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/30/realty-income-nyseo-stock-indicating-bullish-outlook/