Realty Income Corporation (O) Expands Global Reach with $1.7B GIC Partnership Amid Analyst Upgrades

Realty Income Corporation (NYSE:O) is one of Goldman Sachs’ top REIT stock picks. On January 12, Realty Income Corporation (NYSE:O) inked a strategic partnership with Singapore’s sovereign wealth fund GIC. The partnership is part of the company’s private capital initiative, which aims to diversify funding sources beyond public markets while expanding investment opportunities.

The deal encompasses multiple real estate investment initiatives with commitments of over $1.7 billion. In addition, the two are to focus on a joint venture to develop logistics properties in the US through build-to-suit, with a capital commitment of over $1.5 billion. The joint venture targets high-quality properties pre-leased to tenants under long-term net leases.

Realty Income is also pursuing growth opportunities in Mexico, backed by a $200 million commitment to purchase US dollar-denominated industrial properties upon completion.

“We are proud of the unique global platform we have curated since 1969 which affords us the opportunity to partner with like-minded, long-term investors to deploy and manage capital at scale,” said Sumit Roy, President and CEO of Realty Income.

On January 30, Scotiabank analyst Nicholas Yulico upgraded Realty Income Corporation to Outperform from Sector Perform, assigning a price target of $67. This follows an earlier upgrade on January 20, when Deutsche Bank analyst Omotayo Okusanya raised Realty Income to Buy from Hold with a $69 price target, reflecting growing optimism around the REIT’s performance and outlook.

Realty Income Corporation (NYSE:O) is a Real Estate Investment Trust (REIT) that acquires, owns, and manages a diversified portfolio of freestanding, single-tenant commercial properties. It focuses on net-leased retail and industrial properties in the U.S. and Europe, aiming to provide stockholders with dependable monthly income that grows over time.

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