2024-06-21 16:29:03 ET
Summary
- Realty Income is one of the most popular triple net lease REITs that operates mainly within the retail/service-oriented property sector.
- It has a fortress-like balance sheet, attractive, well-covered dividends, a great business model, and impressive investment activity in Europe.
- However, I believe it has some size-related headwinds that will cause its peers to outperform.
- Therefore, I intend to hold O, but there are more attractive buying opportunities - both within the same property sector and outside of it.
Investment thesis
Realty Income Corporation ( O ) is one of the most popular triple net lease REITs that operates mainly within a property sector favored by investors. It pays attractive, well-covered dividends, has a fortress-like A- rated balance sheet, a resilient business model, and impressive investment activity in Europe (marked by high cap rates)....
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Realty Income Is Worth Holding, But There Are Better Alternatives