Realty Income (O) Maintains Buy Rating Following Dual-Tranche Notes Issuance

Realty Income Corporation (NYSE:O) ranks among the best real estate stocks to invest in. Following the announcement of a dual-tranche senior notes issuance, Stifel reiterated a Buy rating for Realty Income Corporation (NYSE:O) with a price target of $68 on September 26. The company priced a $800 million senior unsecured note issuance in two equivalent tranches: $400 million of 3.95% senior unsecured notes maturing in 2029 and $400 million of 4.50% senior unsecured notes maturing in 2033.

Stifel analyst Simon Yarmak estimates that the 2029 notes have an effective yield to maturity of 4.143%, while the 2033 notes offer an effective yield to maturity of 4.685%.

Realty Income Corporation (NYSE:O) is a real estate investment trust that invests in free-standing, single-tenant commercial properties in the United States, Spain, and the United Kingdom under NNN leases.

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Disclosure: None. This article is originally published at Insider Monkey.