2024-06-20 18:10:27 ET
Summary
- Recent acquisitions by Realty Income have boosted its portfolio and growth potential but have also added uncertainty to shareholder returns.
- The debt load has risen sharply and share base diluted significantly.
- While valuation seems attractive by usual metrics, a leverage-adjusted metric shows a far less attractive picture due to the drastic change in debt.
O stock's recent acquisitions
The thesis of this article is to argue how recent acquisition activity by Realty Income Corporation ( O ) is a double-edged sword. While boosting its portfolio and further growth potential, they also add quite a bit of uncertainty to shareholder returns, in my view....
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Realty Income: Acquisition Spree Is A Double-Edged Sword