Janney Montgomery Scott analyst Robert Stevenson downgraded Spirit Realty Capital (SRC) to Neutral from Buy with a $40 price target with a $40 fair value estimate after the company agreed to merge with Realty Income (O) in a stock-for-stock transaction valuing it at $9.3B.
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Read More on SRC:
- Spirit Realty reports Q3 AFFO 93c, consensus 90c
- Realty Income price target lowered to $48 from $61 at Mizuho
- Spirit Realty downgraded to Market Perform from Outperform at JMP Securities
- Realty Income REIT (NYSE:O): Don’t Be in a Hurry to Buy the Dip
- Truist does not expect any superior bid for Spirit Realty