O Chart
About

Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. We serve our clients as a full-service real estate capital provider. As of December 31, 2025, we 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. We are known as (The Monthly Dividend Company) and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our listing on the NYSE in 1994, we have had 133 dividend increases and are a member of the S&P 500 Dividend Aristocrats index for having increased our dividend for over 31 consecutive years. The firm was founded and incorporated in 1969 in Maryland, USA.

Fundamentals
Scroll to Statements
Sector Real Estate Industry REIT - Retail Market Cap 60.55B
Enterprise Value 90.23B Income 1.06B Sales 5.76B
Book/sh 42.23 Cash/sh 0.47 Dividend Yield 4.99%
Payout 275.47% Employees 544 IPO
P/E 55.78 Forward P/E 36.86 PEG
P/S 10.51 P/B 1.53 P/C
EV/EBITDA 17.65 EV/Sales 15.66 Quick Ratio 0.77
Current Ratio 1.25 Debt/Eq 73.50 LT Debt/Eq
EPS (ttm) 1.16 EPS next Y 1.76 EPS Growth 41.20%
Revenue Growth 11.00% Earnings 2026-05-04 ROA 2.27%
ROE 2.70% ROIC Gross Margin 92.56%
Oper. Margin 46.98% Profit Margin 18.37% Shs Outstand 932.44M
Shs Float 930.28M Short Float 4.23% Short Ratio 4.32
Short Interest 52W High 67.94 52W Low 50.71
Beta 0.77 Avg Volume 6.70M Volume 5.30M
Target Price $66.80 Recom Hold Prev Close $64.88
Price $64.71 Change -0.26%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$66.80
Mean price target
2. Current target
$64.71
Latest analyst target
3. DCF / Fair value
$51.66
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$64.71
Low
$60.00
High
$75.00
Mean
$66.80

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-11 main Scotiabank Sector Outperform → Sector Outperform $69
2026-03-11 main Mizuho Neutral → Neutral $68
2026-03-09 main UBS Buy → Buy $72
2026-02-27 main Cantor Fitzgerald Neutral → Neutral $68
2026-02-26 main Evercore ISI Group In-Line → In-Line $65
2026-02-25 main RBC Capital Outperform → Outperform $70
2026-02-02 up Scotiabank Sector Perform → Sector Outperform $67
2025-12-24 main Morgan Stanley Equal-Weight → Equal-Weight $65
2025-12-18 down JP Morgan Neutral → Underweight $61
2025-12-17 main Mizuho Neutral → Neutral $60
2025-12-03 main Barclays Equal-Weight → Equal-Weight $64
2025-11-25 main Wells Fargo Equal-Weight → Equal-Weight $60
2025-11-06 main Cantor Fitzgerald Neutral → Neutral $60
2025-11-04 main RBC Capital Outperform → Outperform $61
2025-10-20 main Barclays Equal-Weight → Equal-Weight $63
2025-10-01 init Evercore ISI Group — → In-Line $62
2025-10-01 init Cantor Fitzgerald — → Neutral $64
2025-09-11 main Mizuho Neutral → Neutral $63
2025-08-28 main Scotiabank Sector Perform → Sector Perform $60
2025-08-20 main Barclays Equal-Weight → Equal-Weight $59
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 7698 Stock Award(Grant) at price 0.00 per share. BUSHORE MICHELLE General Counsel 2026-02-26 00:00:00 D
1 29630 Stock Award(Grant) at price 0.00 per share. WHYTE GREGORY J Chief Operating Officer 2026-02-17 00:00:00 D
2 7128 Stock Award(Grant) at price 0.00 per share. KEHLE SHANNON Officer 2026-02-17 00:00:00 D
3 7110 Stock Award(Grant) at price 0.00 per share. PONG JONATHAN CFA Chief Financial Officer 2026-02-17 00:00:00 D
4 40727 Stock Award(Grant) at price 0.00 per share. HAGAN MARK E. Chief Investment Officer 2026-02-17 00:00:00 D
5 31866 Stock Award(Grant) at price 0.00 per share. BUSHORE MICHELLE General Counsel 2026-02-17 00:00:00 D
6 137639 Stock Award(Grant) at price 0.00 per share. ROY SUMIT Chief Executive Officer 2026-02-17 00:00:00 D
7 41360 Stock Award(Grant) at price 0.00 per share. ABRAHAM NEIL M Officer 2026-02-17 00:00:00 D
8 10753 Stock Award(Grant) at price 0.00 per share. REDINGTON NEALE W Officer 2026-02-17 00:00:00 D
9 3399 Stock Award(Grant) at price 0.00 per share. HOURIHAN KIMBERLY Director 2025-10-14 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-25.10M-27.99M-5.00M2.47M
TaxRateForCalcs0.070.070.060.05
NormalizedEBITDA5.13B4.72B3.71B2.93B
TotalUnusualItems-339.24M-394.25M-89.29M50.26M
TotalUnusualItemsExcludingGoodwill-339.24M-394.25M-89.29M50.26M
NetIncomeFromContinuingOperationNetMinorityInterest1.06B860.77M872.31M869.41M
ReconciledDepreciation2.52B2.40B1.90B1.67B
ReconciledCostOfRevenue428.80M377.68M316.96M226.33M
EBITDA4.79B4.33B3.62B2.98B
EBIT2.26B1.93B1.72B1.31B
NetInterestIncome-1.14B-1.02B-730.42M-465.22M
InterestExpense1.11B998.07M779.04M445.45M
InterestIncome3.28M73.46M76.61M13.85M
NormalizedIncome1.37B1.23B956.60M821.63M
NetIncomeFromContinuingAndDiscontinuedOperation1.06B860.77M872.31M869.41M
TotalExpenses3.16B2.95B2.36B2.04B
DilutedAverageShares911.01M865.84M694.82M613.47M
BasicAverageShares907.17M692.30M692.30M611.77M
DilutedEPS1.170.981.261.42
BasicEPS1.170.981.261.42
DilutedNIAvailtoComStockholders1.06B847.89M872.31M869.41M
NetIncomeCommonStockholders1.06B847.89M872.31M869.41M
OtherunderPreferredStockDividend0.005.12M0.000.00
PreferredStockDividends7.76M
NetIncome1.06B860.77M872.31M869.41M
MinorityInterests-11.19M-6.57M-4.61M-3.01M
NetIncomeIncludingNoncontrollingInterests1.07B867.34M876.91M872.42M
NetIncomeContinuousOperations1.07B867.34M876.91M872.42M
TaxProvision85.35M66.60M52.02M45.18M
PretaxIncome1.16B933.94M928.93M917.60M
OtherIncomeExpense-296.49M-362.85M-62.96M74.32M
OtherNonOperatingIncomeExpenses29.42M23.61M23.79M30.51M
SpecialIncomeCharges-495.55M-522.12M-101.55M-39.39M
OtherSpecialCharges-367.00K97.18M
WriteOff471.33M425.83M87.08M25.86M
ImpairmentOfCapitalAssets87.08M25.86M38.97M
RestructuringAndMergernAcquisition24.21M96.29M14.46M13.90M
EarningsFromEquityInterest13.33M7.79M2.55M-6.45M
GainOnSaleOfSecurity156.31M127.88M12.25M89.65M
NetNonOperatingInterestIncomeExpense-1.14B-1.02B-730.42M-465.22M
TotalOtherFinanceCost35.70M29.34M730.42M465.22M
InterestExpenseNonOperating1.11B998.07M779.04M445.45M
InterestIncomeNonOperating3.28M73.46M76.61M13.85M
OperatingIncome2.59B2.32B1.72B1.31B
OperatingExpense2.73B2.57B2.04B1.81B
DepreciationAmortizationDepletionIncomeStatement2.52B2.40B1.90B1.67B
DepreciationAndAmortizationInIncomeStatement2.52B2.40B1.90B1.67B
SellingGeneralAndAdministration202.55M176.90M144.54M138.46M
GeneralAndAdministrativeExpense202.55M176.90M144.54M138.46M
OtherGandA202.55M176.90M144.54M138.46M
GrossProfit5.32B4.89B3.76B3.12B
CostOfRevenue428.80M377.68M316.96M226.33M
TotalRevenue5.75B5.27B4.08B3.34B
OperatingRevenue5.44B5.04B3.96B3.30B
Line Item2025-12-312024-12-312023-12-312022-12-31
OrdinarySharesNumber933.98M891.51M752.46M660.30M
ShareIssued933.98M891.51M752.46M660.30M
NetDebt28.36B25.78B21.29B17.94B
TotalDebt29.35B26.76B21.99B18.60B
TangibleBookValue28.79B27.59B24.19B19.81B
InvestedCapital68.23B65.07B54.46B46.82B
WorkingCapital1.51B1.62B1.01B-1.73B
NetTangibleAssets28.79B27.59B24.19B19.81B
CapitalLeaseObligations551.11M530.15M469.56M489.56M
CommonStockEquity39.44B38.84B32.94B28.71B
TotalCapitalization66.21B63.94B53.70B44.09B
TotalEquityGrossMinorityInterest40.12B39.05B33.11B28.84B
MinorityInterest685.27M210.95M165.50M130.14M
StockholdersEquity39.44B38.84B32.94B28.71B
GainsLossesNotAffectingRetainedEarnings105.02M38.23M73.89M46.83M
OtherEquityAdjustments105.02M38.23M73.89M46.83M
RetainedEarnings-10.53B-8.65B-6.76B-5.49B
CapitalStock49.86B47.45B39.63B34.16B
CommonStock49.86B47.45B39.63B34.16B
TotalLiabilitiesNetMinorityInterest32.67B29.78B24.67B20.83B
TotalNonCurrentLiabilitiesNetMinorityInterest29.08B27.38B22.78B17.33B
OtherNonCurrentLiabilities1.55B1.68B1.44B1.40B
DerivativeProductLiabilities205.69M81.52M119.62M64.72M
LongTermDebtAndCapitalLeaseObligation27.32B25.63B21.23B15.87B
LongTermCapitalLeaseObligation551.11M530.15M469.56M489.56M
LongTermDebt26.77B25.10B20.76B15.38B
CurrentLiabilities3.59B2.40B1.89B3.50B
CurrentDeferredLiabilities460.97M352.33M312.19M269.64M
CurrentDeferredRevenue460.97M352.33M312.19M269.64M
CurrentDebtAndCapitalLeaseObligation2.02B1.13B764.39M2.73B
CurrentDebt2.02B1.13B764.39M2.73B
LineOfCredit2.02B1.13B764.39M2.73B
PayablesAndAccruedExpenses1.11B915.94M814.13M500.12M
CurrentAccruedExpenses411.58M386.91M352.12M186.92M
InterestPayable306.26M266.19M227.39M135.07M
Payables698.87M529.03M462.01M313.20M
OtherPayable155.21M86.83M62.02M55.92M
DividendsPayable255.17M238.04M195.22M165.71M
TotalTaxPayable288.48M204.15M204.76M91.57M
IncomeTaxPayable120.23M84.88M61.07M22.63M
TotalAssets72.80B68.84B57.78B49.67B
TotalNonCurrentAssets67.69B64.82B54.88B47.90B
OtherNonCurrentAssets107.74M83.49M104.81M70.42M
NonCurrentDeferredAssets25.25M7.33M12.26M17.20M
FinancialAssets8.02M47.16M21.17M83.10M
InvestmentsAndAdvances2.06B1.24B1.18B5.95M
OtherInvestments6.21M6.14M6.06M5.95M
InvestmentinFinancialAssets800.47M0.00
AvailableForSaleSecurities800.47M
LongTermEquityInvestment1.26B1.23B1.17B0.00
InvestmentProperties53.41B50.91B43.51B37.75B
GoodwillAndOtherIntangibleAssets10.65B11.26B8.75B8.90B
OtherIntangibleAssets5.72B6.32B5.02B5.17B
Goodwill4.93B4.93B3.73B3.73B
NetPPE1.42B1.27B1.30B1.07B
GrossPPE1.42B1.27B1.30B1.07B
OtherProperties1.42B1.27B1.30B1.07B
CurrentAssets5.11B4.02B2.90B1.77B
AssetsHeldForSaleCurrent91.78M94.98M31.47M29.54M
RestrictedCash86.35M36.55M6.45M43.29M
PrepaidAssets76.21M63.50M33.25M28.13M
Inventory31.47M29.54M
FinishedGoods31.47M29.54M
Receivables4.42B3.38B2.59B1.50B
OtherReceivables1.57B1.61B1.57B933.12M
TaxesReceivable75.00M48.08M100.67M24.73M
AccruedInterestReceivable33.80M16.07M6.14M0.00
NotesReceivable0.004.46M
LoansReceivable1.68B828.50M205.34M0.00
AccountsReceivable1.05B877.67M710.54M543.24M
CashCashEquivalentsAndShortTermInvestments434.84M444.96M232.92M171.10M
CashAndCashEquivalents434.84M444.96M232.92M171.10M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow3.99B3.57B2.96B2.56B
RepurchaseOfCapitalStock0.00-172.51M0.000.00
RepaymentOfDebt-21.79B-38.37B-79.42B-27.75B
IssuanceOfDebt23.58B39.54B82.61B30.69B
IssuanceOfCapitalStock2.36B1.74B5.44B4.56B
InterestPaidSupplementalData1.07B970.01M692.00M501.72M
IncomeTaxPaidSupplementalData49.78M32.28M12.28M45.03M
EndCashPosition520.76M495.51M292.18M226.88M
BeginningCashPosition495.51M292.18M226.88M332.37M
EffectOfExchangeRateChanges15.87M-5.90M24.02M-20.51M
ChangesInCash9.38M209.24M41.27M-84.98M
FinancingCashFlow1.68B-21.16M6.44B5.74B
CashFlowFromContinuingFinancingActivities1.68B-21.16M6.44B5.74B
NetOtherFinancingCharges446.92M-67.80M-77.27M48.54M
CashDividendsPaid-2.92B-2.70B-2.11B-1.81B
PreferredStockDividendPaid0.00-7.76M0.000.00
CommonStockDividendPaid-2.92B-2.69B-2.11B-1.81B
NetPreferredStockIssuance0.00-172.51M0.000.00
PreferredStockPayments0.00-172.51M0.000.00
NetCommonStockIssuance2.36B1.74B5.44B4.56B
CommonStockPayments0.00
CommonStockIssuance2.36B1.74B5.44B4.56B
NetIssuancePaymentsOfDebt1.79B1.18B3.19B2.95B
NetShortTermDebtIssuance723.00M358.40M-2.06B1.10B
ShortTermDebtPayments-19.56B-36.53B-79.40B-27.43B
ShortTermDebtIssuance20.28B36.89B77.34B28.54B
NetLongTermDebtIssuance1.06B817.42M5.25B1.84B
LongTermDebtPayments-2.23B-1.84B-22.02M-312.23M
LongTermDebtIssuance3.30B2.66B5.27B2.15B
InvestingCashFlow-5.66B-3.34B-9.35B-8.39B
CashFlowFromContinuingInvestingActivities-5.66B-3.34B-9.35B-8.39B
NetOtherInvestingChanges-1.58B-571.79M-174.54M49.27M
NetInvestmentPropertiesPurchaseAndSale-4.04B-2.79B-8.00B-8.55B
SaleOfInvestmentProperties744.01M589.45M117.35M436.12M
PurchaseOfInvestmentProperties-4.78B-3.38B-8.12B-8.98B
NetBusinessPurchaseAndSale-52.27M23.30M-1.18B109.49M
SaleOfBusiness0.0093.68M3.93M109.49M
PurchaseOfBusiness-52.27M-70.38M-1.18B0.00
OperatingCashFlow3.99B3.57B2.96B2.56B
CashFlowFromContinuingOperatingActivities3.99B3.57B2.96B2.56B
DividendReceivedCFO39.86M21.04M5.81M1.60M
ChangeInWorkingCapital77.85M30.69M174.01M-34.81M
ChangeInPayablesAndAccruedExpense193.64M2.61M285.29M-5.29M
ChangeInPayable193.64M2.61M285.29M-5.29M
ChangeInAccountPayable193.64M2.61M285.29M-5.29M
ChangeInReceivables-115.79M28.08M-111.29M-29.52M
ChangesInAccountReceivables-115.79M28.08M-111.29M-29.52M
OtherNonCashItems-83.62M-83.85M-116.01M-118.01M
StockBasedCompensation30.77M57.49M26.23M21.62M
AssetImpairmentCharge471.33M425.83M87.08M25.86M
DeferredTax603.00K3.55M0.000.00
DeferredIncomeTax603.00K3.55M0.000.00
DepreciationAmortizationDepletion2.52B2.40B1.90B1.67B
DepreciationAndAmortization2.52B2.40B1.90B1.67B
OperatingGainsLosses-136.02M-144.46M9.56M124.79M
EarningsLossesFromEquityInvestments-13.33M-7.79M-2.55M6.45M
GainLossOnInvestmentSecurities-177.64M-117.28M-25.67M-102.24M
NetForeignCurrencyExchangeGainLoss54.95M-19.39M37.78M220.95M
NetIncomeFromContinuingOperations1.07B867.34M876.91M872.42M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for O
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status