Realty Income Corporation [O] Stock trading around $55.25 per share: What’s Next?

Realty Income Corporation [NYSE: O] stock went on a downward path that fall over -1.69% on Tuesday, amounting to a one-week price decrease of less than -2.16%. The company report on August 25, 2023 at 7:52 AM that REALTY INCOME ANNOUNCES $950 MILLION INVESTMENT IN BELLAGIO LAS VEGAS AT $5.1 BILLION VALUATION.

Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, and Blackstone Real Estate Income Trust, Inc. (“BREIT”) jointly announced today that Realty Income has signed a definitive agreement to invest approximately $950 million to acquire common and preferred equity interests from BREIT in a new joint venture that owns a 95% interest in the real estate assets of The Bellagio Las Vegas. Upon closing, Realty Income will invest approximately $300 million of common equity in the joint venture, subject to certain adjustments, to acquire a 21.9% indirect interest in the property, BREIT will retain a 73.1% indirect interest, and MGM Resorts International (“MGM”) will retain a 5.0% interest in the property. Realty Income will also invest $650 million to acquire a yield-bearing preferred equity interest in the joint venture.

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The Bellagio, situated at the center of the Las Vegas Strip in Las Vegas, Nevada, is subject to an existing triple net lease with approximately 26 years of remaining term and is operated and maintained by MGM. The AAA Five Diamond Resort features approximately 4,000 guestrooms and suites across two towers, 157,000 square feet of gaming space and 200,000 gross square feet of state-of-the-art meeting and event facilities. Located on a 77-acre campus, the resort also includes the iconic Fountains of Bellagio and multiple Michelin Star restaurants.

Over the last 12 months, O stock dropped by -19.28%. The one-year Realty Income Corporation stock forecast points to a potential upside of 18.85. The average equity rating for O stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.05 billion, with 708.79 million shares outstanding and 708.06 million shares in the current float. Compared to the average trading volume of 5.03M shares, O stock reached a trading volume of 5243112 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Realty Income Corporation [O]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for O shares is $68.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on O stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Realty Income Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 30, 2023.

The Average True Range (ATR) for Realty Income Corporation is set at 0.81, with the Price to Sales ratio for O stock in the period of the last 12 months amounting to 10.58. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.36.

O Stock Performance Analysis:

Realty Income Corporation [O] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.16. With this latest performance, O shares dropped by -6.70% in over the last four-week period, additionally sinking by -14.07% over the last 6 months – not to mention a drop of -19.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for O stock in for the last two-week period is set at 30.69, with the RSI for the last a single of trading hit 27.28, and the three-weeks RSI is set at 33.69 for Realty Income Corporation [O]. The present Moving Average for the last 50 days of trading for this stock 59.34, while it was recorded at 56.10 for the last single week of trading, and 62.23 for the last 200 days.

O Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for O. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Realty Income Corporation go to 22.62%.

Realty Income Corporation [O] Institutonal Ownership Details

The top three institutional holders of O stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in O stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in O stock with ownership which is approximately 5.7381%.

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