Realty Income price target raised to $59 from $56 at Mizuho

Mizuho raised the firm’s price target on Realty Income to $59 from $56 and keeps a Buy rating on the shares. The analyst believes the triple net real estate investment trust subsector continues to offer one of the best risk-adjusted growth stories across REITs. Despite elevated and volatile interest rates and uncertainty surrounding timing around potential rate cuts, the subsector enjoys high visibility on 2024 growth – without the need to raise any additional capital to reach its acquisition and growth targets, the analyst tells investors in a research note.