03:30 AM EDT, 08/07/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our price target by $2 to $58, 13.3x our 2026 FFO estimate, a slight discount to O's three-year average multiple of 14.0x given slower same-store (SS) growth and increasing competition. We lower our 2025 FFO estimate by $0.06 to $4.22 and 2026's by $0.05 to $4.37. Management increased acquisition guidance to $5B (up $1B) and noted it turned down a record amount of deals, commenting on the increased impact of new private market buyers. Major players are entering the net-lease space (BlackRock, Starwood, JPMorgan) which we ultimately see decreasing O's acquisition pipeline and driving down cap rates for attractive properties. Management is confident its long-term track record and mature underwriting will provide a competitive advantage in negotiating deals, but we remain concerned about the prospect of $10B-$20B in new capital chasing after the same property pipeline. O increased the size of its tenant watch list to aggressively estimate retailers most vulnerable to tariffs disrupting cost structures.