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Watch for Continued Gains in Shares of Realty Income (O)

By Shiri Gupta

Realty Income (NYSE:O) traded today at a new 52-week high of $72.03. This new high was reached on below average trading volume as 438,000 shares traded hands, while the average 30-day volume is approximately 2 million shares.

In the past 52 weeks, Realty Income share prices have been bracketed by a low of $48.80 and a high of $72.03 and are now at $72.03, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

Realty Income Corporation owns and manages a portfolio of commercial properties located across the United States. The Company focuses on acquiring single-tenant retail locations, leased to regional and national chains, and under long-term net lease agreements.

Realty Income (NYSE:O) defies analysts with a current price ($72.03) 22.3% above its average consensus price target of $55.96. The stock should find initial support at its 50-day moving average (MA) of $67.51 and further support at its 200-day MA of $60.61.

SmarTrend recommended that subscribers consider buying shares of Realty Income on January 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.37. Since that recommendation, shares of Realty Income have risen 8.4%. We continue to monitor O for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows realty income

Ticker(s): O