Realty Income Corporation (O), with a market cap of $52.1 billion, is a real estate partner to the world's leading companies. Established in 1969, the company is engaged in the acquisition and management of freestanding commercial properties that reap rental revenue under long-term net lease agreements.
Companies valued at $10 billion or more are generally classified as “large-cap stocks,” and O fits this criterion perfectly, exceeding the mark. As a leading real estate investment trust, O invests in diversified commercial real estate and has a portfolio of 15,450 properties in all 50 U.S. states, the U.K., and six other countries in Europe.
However, the REIT giant has fallen 12.6% from its 52-week high of $64.88, recorded on Oct. 21. Over the past three months, Realty Income shares have surged 2.5%, compared to the S&P 500 Index ($SPX), which declined 8.4% during the same period.
O shares have declined 9.4% over the past six months and surged 6.8% over the past 52 weeks. By contrast, SPX has surged marginally over the past six months and 8.9% over the past 52 weeks.
O has been trading above its 50-day moving average since mid-February but below its 200-day moving average since the last trading session.
Realty Income stock surged marginally following its Q4 earnings release on Feb. 24. The company reported an impressive 24.5% increase in its total revenue, which amounted to $1.3 billion. Moreover, its funds from operations and EPS came in at $921.9 million and $1.05, respectively.
Urban Edge Properties (UE), a key competitor, has outpaced O, declining 8.8%over the past six months and gaining 11.4% over the past year.
Wall Street analysts are moderately hopeful for O, with a consensus rating of "Moderate Buy" from 23 analysts. Its mean price target of $60.89 implies a potential upside of 7.4% from the current market prices.
