Cantor Fitzgerald Defends Realty Income (O) On Tenant Fears
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Cantor Fitzgerald is out in defense of Realty Income (NYSE: O), as the stock is down on financial fears related to one of the company's largest tenants, Buffet's, which missed an interest payment on its senior notes. The firm noted the stock is down 9% today and 16.4% for the week. Buffet's accounts for 7.9% of revenue, or $0.06 FFO.
The firm said, "We feel the recent share price weakness will prove to be an excellent buying opportunity for this "best in class" REIT." They also said the financial troubles being experienced at Buffet's is not new news. They said if Buffet's filed Chapter 11, a majority of the Realty Income leases with Buffet's would be affirmed, and continue to pay rent.
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