Realty Income (O) Stock Overview
An S&P 500 company, is real estate partner to the world's leading companies. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 1/6 |
| Past Performance | 3/6 |
| Financial Health | 2/6 |
| Dividends | 6/6 |
O Community Fair Values
Create NarrativeSee what 772 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Top Community Narratives
Realty Income Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$61.91 |
| 52 Week High | US$67.94 |
| 52 Week Low | US$55.86 |
| Beta | 0.73 |
| 1 Month Change | -0.99% |
| 3 Month Change | -3.93% |
| 1 Year Change | 6.82% |
| 3 Year Change | 1.11% |
| 5 Year Change | -9.26% |
| Change since IPO | 673.88% |
Recent News & Updates
Seeking Alpha • 16h
Realty Income Vs. EastGroup: A Case Study In Overcoming Cost Of Capital
Summary EastGroup Properties and Realty Income faced similar cost of capital challenges post-2022 but adopted sharply contrasting strategies. O maintained aggressive acquisition targets, pivoting to private funds and new asset classes to sustain volume despite diminished spreads and flat FFO/share growth. EGP exercised discipline, pausing acquisitions when spreads disappeared, focusing on development and organic growth to drive superior FFO/share performance. Given current REIT discounts to NAV, EGP’s patient, accretion-focused approach is likely to outperform O’s volume-driven strategy. Read the full article on Seeking Alpha
Narrative Update • Jun 03
O: Private Capital JVs And Expanded 2026 Investments Will Support Re Rating Potential
Analysts trimmed the blended price target on Realty Income by about $0.15 to roughly $68.15. This reflects a mix of slightly higher growth assumptions, a modestly higher discount rate, and recent Street research that pairs cautious rate and macro views with generally constructive opinions on the net lease REIT group.Recent updates
Seeking Alpha • 16h
Realty Income Vs. EastGroup: A Case Study In Overcoming Cost Of Capital
Summary EastGroup Properties and Realty Income faced similar cost of capital challenges post-2022 but adopted sharply contrasting strategies. O maintained aggressive acquisition targets, pivoting to private funds and new asset classes to sustain volume despite diminished spreads and flat FFO/share growth. EGP exercised discipline, pausing acquisitions when spreads disappeared, focusing on development and organic growth to drive superior FFO/share performance. Given current REIT discounts to NAV, EGP’s patient, accretion-focused approach is likely to outperform O’s volume-driven strategy. Read the full article on Seeking AlphaNarrative Update • Jun 03
O: Private Capital JVs And Expanded 2026 Investments Will Support Re Rating Potential
Analysts trimmed the blended price target on Realty Income by about $0.15 to roughly $68.15. This reflects a mix of slightly higher growth assumptions, a modestly higher discount rate, and recent Street research that pairs cautious rate and macro views with generally constructive opinions on the net lease REIT group.Narrative Update • Apr 22
O: Private Capital JVs And 2026 Acquisition Plans Will Guide Measured Outlook
Analysts have increased their average price target for Realty Income by $0.50. This reflects updated models that factor in revised growth expectations, a slightly higher discount rate, and a modestly stronger profit margin outlook supported by recent price target increases across several research firms.Narrative Update • Apr 08
O: Private Capital JVs And 2026 Acquisition Plans Will Shape Balanced Outlook
Narrative Update The analyst price target for Realty Income has shifted slightly to $67.80. Analysts attribute this change to refreshed models that incorporate updated acquisition volume assumptions, evolving private capital initiatives, and recent Q4 and Q1 preview research across multiple firms.Narrative Update • Mar 25
O: Private Capital JVs And 2026 Acquisition Pipeline Will Drive Forward Outlook
Narrative Update on Realty Income The updated analyst price target for Realty Income shifts from $66.35 to $67.85, reflecting analysts’ refreshed models that incorporate higher P/E assumptions, adjusted discount rates, and ongoing revisions to REIT targets across recent research. Analyst Commentary Recent Street research on Realty Income shows a cluster of higher price targets, but also a split between those who see more room for upside and those who view the current valuation as closer to fair value.Narrative Update • Mar 09
O: Dividend Income And GIC Partnership Will Shape A Balanced Forward Outlook
The analyst fair value estimate for Realty Income has increased by about $2 to $66.35, as analysts incorporate updated price targets in the $65 to $72 range and note expectations for stronger revenue growth, slightly better margins, and an improved cost of capital supported by new joint ventures and private capital initiatives. Analyst Commentary Recent Street research on Realty Income has centered on refreshed price targets, updated acquisition expectations for 2026, and the role of joint ventures and private capital in supporting future growth.
Narrative Update • Mar 06
Adjusted DDM stable growth lower end
Adjusted the lower end of DDM stable growth to be 2%.Narrative Update • Mar 05
FY2025
Updated with most recent annual statement. Also, updated the way I approach the valuation of this company in general.Narrative Update • Feb 23
O: Dividend Income And GIC Logistics Venture Will Support A Balanced Outlook
Narrative Update on Realty Income The analyst price target for Realty Income has moved by $1, to $60. Analysts attribute this to slightly lower required returns, somewhat higher assumed revenue growth, and a modestly lower future P/E multiple, supported by recent upgrades and generally healthy REIT operating commentary.Narrative Update • Feb 09
O: Dividend Income And Logistics Expansion Will Shape A Balanced Forward Outlook
Analysts have nudged their fair value estimate for Realty Income to $64.31 from $63.77, supported by recent upgrades and higher price targets that reflect steady assumptions for revenue growth, profit margins, and future P/E expectations. Analyst Commentary Bullish and cautious voices are both active around Realty Income, and together they help frame how the new fair value estimate lines up with current expectations on execution, growth, and valuation.Narrative Update • Jan 26
O: Dividend Income, Logistics Expansion And Balanced Outlook Will Shape Return Potential
Narrative Update: Realty Income The analyst price target for Realty Income has been adjusted slightly higher to align with a blended US$60 level, as analysts factor in recent target revisions from US$59 to US$60 and US$64 to US$60, along with modest updates to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent Street commentary around Realty Income clusters around a US$60 price target, with modest adjustments reflecting updated views on earnings quality, risk, and growth assumptions.Narrative Update • Jan 10
O: Higher Dividend And Mixed Outlook Will Shape Future Return Profile
Analysts have adjusted their outlook on Realty Income with mixed Street price target changes around $60, reflecting updated net lease models, recent Q3 earnings commentary, and modest tweaks to assumptions such as the discount rate, revenue growth, and future P/E multiples. Analyst Commentary Recent Street research on Realty Income highlights a fairly tight cluster of price targets around the low $60 range, with analysts updating their models ahead of and around Q3 2025 earnings.Narrative Update • Dec 24
O: Higher Dividend And Stable Net Lease Cash Flows Will Support Future Returns
The analyst price target for Realty Income has nudged higher to about $63.35 from roughly $63.38, as analysts balance modestly stronger revenue growth expectations against a slightly higher discount rate and mixed recent target moves clustered around the $60 to $63 range. Analyst Commentary Recent research updates show a mix of optimism and caution around Realty Income, with price targets converging near the low 60 dollar range and ratings generally anchored around market-perform views.Narrative Update • Dec 10
O: Defensive Cash Flows And Dividend Increases Will Support Steady Future Returns
Analysts have nudged their blended price target for Realty Income slightly higher, to about $63.38 from $63.29, citing updated net lease models, solid Q3 operating conditions across most REITs, and expectations of steadier long term earnings growth supported by diversified tenants, attractive dividend yields, and long lease terms. Analyst Commentary Recent Street updates present a mixed but generally constructive view on Realty Income, with modestly higher price targets clustered around the low 60 dollar range.Narrative Update • Nov 26
O: Defensive Qualities And Dividend Growth Will Support Future Returns
Analysts have slightly lowered their fair value estimate for Realty Income from $63.45 to $63.29. This adjustment reflects an updated outlook that takes into account mixed earnings results and sector resilience despite recent macroeconomic concerns.Narrative Update • Nov 05
O: Dividend Increase And Improved Net Lease Model Will Drive Upside
The analyst consensus price target for Realty Income has risen modestly to $63.45, up from $63.26. Analysts point to improved net lease models, anticipated earnings growth, and sector stability as key factors behind the upgrade.Narrative Update • Oct 22
Analysts Revise Realty Income Price Targets Amid Dividend Hike and Modest Valuation Changes
The analyst price target for Realty Income has increased modestly by $0.48 to $63.26. Analysts are factoring in updated net lease models, improved revenue growth expectations, and continued sector stability for triple net REITs. Analyst Commentary Recent research notes reveal that analysts have generally raised their price targets for Realty Income, reflecting improved sentiment around the company’s near-term prospects.Narrative Update • Oct 08
Necessity-based Investments And European Expansion Will Drive Resilience
Analysts have modestly increased their price target for Realty Income, raising it by $0.23 to $62.79. They cite expectations for steady earnings growth supported by the company's strong tenant diversification and resilient lease structures.New Narrative • Jul 21
A reliable dividend payer with a slower dividend growth
Dividend Discount Model (Stable Growth)Seeking Alpha • Apr 28
Realty Income Q1 Preview: 7% Equity Bond In Disguise
Summary Since my last writing, Realty Income Corporation’s latest dividend declaration and FQ1 earnings revisions have made it a strong candidate as an equity bond. The cash dividend yield is 5.7%, but the AFFO yield is more than 7%. Dividend yields underestimate O’s attractiveness as an equity bond for long-term investors, and AFFO yield is a better metric. An above-average AFFO and a healthy growth potential create a favorable return/risk profile. An equity bond could be timely, given the ongoing turbulence in both the equity and bond markets. Read the full article on Seeking AlphaSeeking Alpha • Apr 22
Realty Income: A Fortress Of Cash Flow In A Shaky World
Summary Realty Income owns 15,621 properties across 89 industries and 7 countries, minimizing concentration risk and enhancing diversification. 91% of retail rent comes from service-based, low-price-point, non-discretionary tenants, ensuring stability during economic downturns. 82.3% of leases include rent escalation clauses; the average lease term is 9.3 years with 98.7% occupancy. FY24 AFFO/share was $4.19 with a 74.6% payout ratio; FY25 guidance targets $4.22–$4.28 in AFFO/share. Maintains $3.7B in liquidity, 96% fixed-rate debt, and a 4.7x debt service coverage ratio, supporting strong financial flexibility. Read the full article on Seeking AlphaSeeking Alpha • Apr 14
Very Bad News For Realty Income
Summary Realty Income is facing tenant issues. Those issues just got a lot worse as a result of the new tariffs. I break down why and share my latest rating. Read the full article on Seeking AlphaSeeking Alpha • Mar 29
Realty Income: Back In The Buy Zone With >5% In Dividend Yields
Summary O continues to deliver on its richer spreads and healthier balance sheet, thanks to the excellent investments at weighted average cash yield of over 7% and higher rental recapture rates. These developments have allowed the REIT to sustain the robust AFFO per share growth and accelerating dividend per share increases against its 10Y averages. While O may appear to offer a mixed FY2025 guidance, most of the bottom-line headwinds are merely attributed to non recurring expenses, otherwise culminating in a +9.8% YoY increase. For now, the ongoing market rotation has already triggered the REIT's richer dividend yields, with a further pullback to $50s likely, attributed to the higher for longer borrowing costs. O's overly discounted valuations are also likely to trigger rich double digits upside potential, resulting in our reiterated Strong Buy rating. Read the full article on Seeking AlphaSeeking Alpha • Mar 21
Realty Income: How To Earn High Annualized Yields On This Monthly Dividend REIT Through Options
Summary I opened a position in Realty Income (O) for its monthly income, raising dividends, and stable implied volatility, enabling a consistent covered call strategy. By purchasing 200 shares at $57 and selling covered calls, I achieve an annualized yield of 16.94%, outperforming the broader market's 8-10%. Realty Income's expansion into Europe, strong deal pipeline, and solid fundamentals make it a bullish investment, with a $4 billion investment pipeline. Effective risk management in my covered call strategy involves monitoring delta, gamma, and theta, especially at the 21-day mark before expiration. Read the full article on Seeking AlphaSeeking Alpha • Mar 12
Realty Income: Long-Term Dividend Investors Can't Really Go Wrong Buying Here
Summary Realty Income's attractive valuation, strong fundamentals, and well-covered dividend make it a compelling buy for income-oriented investors despite recent underperformance. The REIT's solid 2024 performance, including 4.0% AFFO growth and significant revenue increase, underscores its resilience in various economic environments. Management's focus on divesting underperforming tenants, investing in recession-resistant businesses, and share buybacks are expected to drive future price appreciation. Potential risks include economic recession and volatility due to a riskier tenant profile, but long-term dividend investors should find current levels appealing. Read the full article on Seeking AlphaSeeking Alpha • Mar 04
Realty Income: Never Not A Good Time To Add More Shares
Summary Realty Income remains a solid buy for dividend investors, with a resilient portfolio and consistent dividend growth over 30 years. Despite a disappointing 2025 AFFO guidance, O's expansion into data centers and European markets presents significant long-term growth opportunities. O's strong debt management and high occupancy rates bolster investor confidence, despite a cautious investment approach in the current market climate. Valuation models suggest a target price of $61.5, making O an attractive investment even at a premium to its intrinsic value. Read the full article on Seeking AlphaSeeking Alpha • Feb 21
3 Reasons I Bought More Realty Income Before Earnings And So Should You
Summary Realty Income is a Buffett-style "fat pitch," trading at a 30% to 36% discount with a 47% to 60% upside potential in 2025. Realty Income's management, led by CEO Sumit Roy, leverages private equity expertise to drive long-term growth of 5% to 6% annually, potentially for decades. With a 5.8% yield and 5.2% growth, Realty Income offers a 12.4% CAGR over 30 years, rivaling Nasdaq returns but with lower volatility and A-rated monthly dividends. Despite potential short-term risks, Realty Income's current valuation makes it a "shut up and buy" opportunity, especially with a yield above 5%. Historically, when real estate yields 5%-plus, it's near correction bottoms. It represents one of the lowest-risk, A-rated, high-yield, low-volatility, defensive dividend aristocrat investments you can buy — and the only one that pays monthly dividends. Read the full article on Seeking AlphaSeeking Alpha • Feb 13
Realty Income: Valuation Is The Market's 'Gift Of The Decade'
Summary Realty Income's negative sentiment is attributed to recency bias. The REIT's performance should be measured by AFFO per share growth, which has increased by 28.5% over the past five years. Realty Income offers attractive risk-adjusted returns due to low beta and solid returns. Current valuations indicate Realty Income is very undervalued, presenting a compelling opportunity for income investors before interest rate cuts. Read the full article on Seeking AlphaSeeking Alpha • Feb 05
Realty Income: This Chart Shows It's Time To Buy
Summary O’s stock price has suffered large corrections due to the market’s fear of a higher-for-longer rate scenario. This correction is both overblown and also contradicts historical data. Historical data is against the popular belief that rising rates are bad for REITs. O's current dividend yield spread relative to the REIT sector is at a multi-year peak, highlighting an extreme valuation discount difficult to justify given its resilient business model. Read the full article on Seeking AlphaSeeking Alpha • Jan 26
Realty Income: A Powerful Combination Of Catalysts
Summary Realty Income's share price is lower than before, but fundamentals remain robust, suggesting the pullback is likely short-term volatility. The company's financial performance is stable, and recent strategic moves by management appear sound, reinforcing the stock's attractiveness. According to the dividend discount model, there is a 21% potential upside. Read the full article on Seeking AlphaSeeking Alpha • Jan 14
2 Dividend Growth Income Machines: Realty Income Vs. NNN
Summary Today, we look at two giants in the Triple Net REIT space. Both provide strong income to shareholders. We love income; we aim to maximize it. Read the full article on Seeking AlphaSeeking Alpha • Jan 07
Realty Income: 3 Reasons To Be Greedy When Others Are Fearful
Summary Realty Income's dividend yield is nearly 6%, the second-highest level in at least a decade. Such an abnormal yield is the result of consistent dividend raises and pressure on stock prices from the prevailing negative market sentiment. The fear is overblown. Despite some temporary headwinds, I see several key positives. FFO growth outlook is healthy. The balance sheet can support its sustained diversification and expansion (e.g., into industrial and other properties). Read the full article on Seeking AlphaSeeking Alpha • Dec 23
Realty Income: Shares Are Too Cheap
Summary Realty Income remains a “buy” despite recent underperformance, driven by its diverse portfolio, strong cash flow, and strategic acquisitions, including Spirit. The company’s financials show robust growth, with revenue, operating cash flow, and FFO all increasing significantly year-over-year. Realty Income is undervalued compared to similar firms and its historical valuations, presenting a compelling investment opportunity. The launch of a private capital fund targeting net lease properties could enhance returns and elevate the company’s trading multiple. Read the full article on Seeking AlphaSeeking Alpha • Dec 17
Realty Income: Buy The Dip
Summary I believe Realty Income remains attractive due to its diverse portfolio, strong operational performance, and stable cash flows despite recent underperformance. The Q3 FY2024 showed impressive revenue growth, high occupancy rates, and strategic investments, reflecting its ability to maintain predictable profits. Realty Income's valuation suggests significant upside potential, with a fair value estimate of $66.53 to $87.57 per share, supported by its dividend growth history. Risks include interest rate fluctuations, tenant economic downturns, and challenges in new segments like data centers and gaming, but the stock is still a solid buy-and-hold. Read the full article on Seeking AlphaSeeking Alpha • Dec 09
Realty Income: Turning Bullish For Once
Summary Realty Income Corporation has struck a pivotal point. The systematic environment has improved for commercial REITs and retail vehicles in particular. Realty Income's revenue growth has persisted amid its continuous scale. Prospects for lower financing costs have emerged. Despite its shaky NAVPS, we believe the REIT is technically underpriced and fundamentally undervalued. Read the full article on Seeking AlphaShareholder Returns
| O | US Retail REITs | US Market | |
|---|---|---|---|
| 7D | 3.6% | 4.9% | -4.1% |
| 1Y | 6.8% | 20.5% | 20.6% |
Return vs Industry: O underperformed the US Retail REITs industry which returned 20.5% over the past year.
Return vs Market: O underperformed the US Market which returned 20.6% over the past year.
Price Volatility
| O volatility | |
|---|---|
| O Average Weekly Movement | 2.5% |
| Retail REITs Industry Average Movement | 2.6% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: O has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: O's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1969 | 544 | Sumit Roy | www.realtyincome.com |
Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. They serve their clients as a full-service real estate capital provider. As of March 31, 2026, They have a portfolio of over 15,500 properties in all 50 states of the United States (U.S.), the United Kingdom (U.K.), and eight other countries in Europe.
Realty Income Corporation Fundamentals Summary
| O fundamental statistics | |
|---|---|
| Market cap | US$58.08b |
| Earnings (TTM) | US$1.12b |
| Revenue (TTM) | US$5.93b |
51.5x
P/E Ratio9.7x
P/S RatioIs O overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| O income statement (TTM) | |
|---|---|
| Revenue | US$5.93b |
| Cost of Revenue | US$438.96m |
| Gross Profit | US$5.49b |
| Other Expenses | US$4.37b |
| Earnings | US$1.12b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.20 |
| Gross Margin | 92.60% |
| Net Profit Margin | 18.90% |
| Debt/Equity Ratio | 72.1% |
How did O perform over the long term?
See historical performance and comparisonDividends
5.2%
Current Dividend Yield76%
Payout RatioDoes O pay a reliable dividends?
See O dividend history and benchmarks| Realty Income dividend dates | |
|---|---|
| Ex Dividend Date | May 29 2026 |
| Dividend Pay Date | Jun 15 2026 |
| Days until Ex dividend | 14 days |
| Days until Dividend pay date | 3 days |
Does O pay a reliable dividends?
See O dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/11 21:21 |
| End of Day Share Price | 2026/06/11 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Realty Income Corporation is covered by 44 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Wesley Golladay | Baird |
| Richard Hightower | Barclays |
| Nathan Crossett | Berenberg |