Realty Income Corporation (NYSE:O) is included among the 15 Blue Chip Dividend Stocks to Build a Passive Income Porfolio.
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On December 3, Barclays boosted its price target on Realty Income Corporation to $64 from $63 while keeping an Equal Weight rating. The firm updated its net lease forecasts following the company’s Q3 earnings and recent transaction announcements.
Realty Income Corporation has steadily transformed over the years. The company, which started off as a REIT focused on US retail properties under long-term net leases, has now grown into a more diversified platform. Its portfolio now consists of a wide range of investments, which has benefited its overall market opportunity.
Realty Income Corporation largely concentrated on retail and industrial properties in the US and the UK five years ago. Since then, it has entered seven additional European countries, added gaming assets, and data centers. In addition, the company also opened avenues in offering credit solutions such as real estate-backed loans and preferred equity.
These moves have brought diversification to its portfolio. Realty Income Corporation now owns over 15,500 properties leased to more than 1,600 clients across nine countries.
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