Realty Income

O · NYSE

$56.34+$0.83 (+1.50%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $55.51

O analyst rating

HoldConsensus of 16 analysts over the last 12 months. 25% rate it a buy.

Strong buy0
Buy4
Hold11
Underperform1
Sell0

12-month price target · 24 analysts

Average $67.84 (+20.4% upside)

Low: $59.59
Now: $56.34
High: $75.60

Upgrades and downgrades

The latest rating actions, newest first

O analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 20, 2026	Maintains	Equal-Weight	$65.00 → $61.00	38%
Wells Fargo	Oct 19, 2026	Maintains	Equal-Weight	$64.00 → $59.00	48%
Mizuho	Oct 19, 2026	Maintains	Neutral	$61.00 → $59.00	44%
Truist Securities	Oct 2, 2026	Initiates	Hold	$60.00	54%
Scotiabank	Sep 24, 2026	Downgrade	Sector Outperform → Sector Perform	$67.00 → $59.00	47%
Evercore ISI Group	Sep 21, 2026	Maintains	In-Line	$68.00 → $65.00	27%
Mizuho	Sep 17, 2026	Maintains	Neutral	$66.00 → $61.00	44%
Barclays	Sep 4, 2026	Maintains	Equal-Weight	$67.00 → $65.00	38%
Wells Fargo	Sep 1, 2026	Maintains	Equal-Weight	$65.00 → $64.00	51%
RBC Capital	Aug 7, 2026	Maintains	Outperform	$71.00 → $70.00	38%

The case for and against

Updated Aug 30, 2026

Bull case

Realty Income is a financially strong company that stands out in the net lease REIT sector thanks to its diverse, high-quality portfolio and strong management team. The company's focus on acquisitions, with a recent expansion into non-retail properties, as well as its strong track record of maintaining high occupancy rates and increasing dividends make it an attractive investment option with potential catalysts for growth such as the potential for spread expansion and portfolio discounts. Additionally, O's ability to source attractive European opportunities and its success in raising private capital set it apart from its competitors. With a low cost of capital and a focus on creating value for shareholders through dividend growth, Realty Income has the potential for long-term success and could see its premium valuation restored over time.

Bear case

Realty Income is facing potential headwinds including increasing WACC, decrease in AFFO, and a decrease in assumed AFFO multiple, all of which could lead to a downside scenario of $61 per share. Despite recent growth opportunities, there are concerns about the company's ability to maintain accretive acquisitions and potential risks such as tenant bankruptcies that could result in dividend cuts.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.