O Chart
About

Realty Income Corporation an S&P 500 company is real estate partner to the world's leading companies. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of September 30, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and seven 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 founding, we have declared 667 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats index for having increased our dividend for over 30 consecutive years.

Fundamentals
Scroll to Statements
Sector Real Estate Industry REIT - Retail Market Cap 61.07B
Enterprise Value 90.02B Income 962.12M Sales 5.61B
Book/sh 42.45 Cash/sh 0.46 Dividend Yield 4.87%
Payout 299.53% Employees 468 IPO —
P/E 62.17 Forward P/E 38.12 PEG —
P/S 10.88 P/B 1.57 P/C —
EV/EBITDA 17.82 EV/Sales 16.03 Quick Ratio 0.83
Current Ratio 1.36 Debt/Eq 73.98 LT Debt/Eq —
EPS (ttm) 1.07 EPS next Y 1.74 EPS Growth 15.20%
Revenue Growth 10.30% Earnings 2026-05-04 ROA 2.27%
ROE 2.49% ROIC — Gross Margin 92.57%
Oper. Margin 44.51% Profit Margin 17.14% Shs Outstand 918.11M
Shs Float 917.74M Short Float 4.85% Short Ratio 5.20
Short Interest — 52W High 66.92 52W Low 50.71
Beta 0.80 Avg Volume 6.53M Volume 5.98M
Target Price $64.65 Recom Buy Prev Close $66.68
Price $66.52 Change -0.24%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$64.65
Mean price target
2. Current target
$66.52
Latest analyst target
3. DCF / Fair value
$40.06
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$66.52
Low
$60.00
High
$75.00
Mean
$64.65

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
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
2025-08-15 main UBS Buy → Buy $66
2025-07-15 down Wolfe Research Outperform → Peer Perform —
2025-05-13 main UBS Buy → Buy $62
2025-05-12 main Scotiabank Sector Perform → Sector Perform $58
2025-05-07 reit Wedbush Neutral → Neutral $61
2025-05-06 main Stifel Buy → Buy $68
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 29630 — — Stock Award(Grant) at price 0.00 per share. WHYTE GREGORY J Chief Operating Officer — 2026-02-17 00:00:00 D
1 137639 — — Stock Award(Grant) at price 0.00 per share. ROY SUMIT Chief Executive Officer — 2026-02-17 00:00:00 D
2 41360 — — Stock Award(Grant) at price 0.00 per share. ABRAHAM NEIL M Officer — 2026-02-17 00:00:00 D
3 10753 — — Stock Award(Grant) at price 0.00 per share. REDINGTON NEALE W 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 7128 — — Stock Award(Grant) at price 0.00 per share. KEHLE SHANNON Officer — 2026-02-17 00:00:00 D
7 7110 — — Stock Award(Grant) at price 0.00 per share. PONG JONATHAN CFA Chief Financial Officer — 2026-02-17 00:00:00 D
8 3399 — — Stock Award(Grant) at price 0.00 per share. HOURIHAN KIMBERLY Director — 2025-10-14 00:00:00 D
9 11000 664730 — Sale at price 60.43 per share. PREUSSE MARY HOGAN Director — 2025-09-30 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-28.11M-4.60M2.47M-19.93M
TaxRateForCalcs0.070.060.050.08
NormalizedEBITDA4.72B3.69B2.93B2.10B
TotalUnusualItems-394.25M-82.10M50.26M-247.05M
TotalUnusualItemsExcludingGoodwill-394.25M-82.10M50.26M-247.05M
NetIncomeFromContinuingOperationNetMinorityInterest860.77M872.31M869.41M359.46M
ReconciledDepreciation2.40B1.90B1.67B897.84M
ReconciledCostOfRevenue377.68M316.96M226.33M133.60M
EBITDA4.33B3.60B2.98B1.85B
EBIT1.93B1.71B1.31B952.04M
NetInterestIncome-1.02B-737.61M-465.22M-323.64M
InterestExpense998.10M779.04M445.45M319.09M
InterestIncome3.31M73.46M76.61M13.85M
NormalizedIncome1.23B949.82M821.63M586.58M
NetIncomeFromContinuingAndDiscontinuedOperation860.77M872.31M869.41M359.46M
TotalExpenses2.95B2.36B2.04B1.13B
DilutedAverageShares865.84M694.82M613.47M591.26M
BasicAverageShares692.30M692.30M611.77M591.26M
DilutedEPS0.981.261.420.87
BasicEPS0.981.261.420.87
DilutedNIAvailtoComStockholders847.89M872.31M869.41M359.46M
NetIncomeCommonStockholders847.89M872.31M869.41M359.46M
OtherunderPreferredStockDividend5.12M0.000.00
PreferredStockDividends7.76M
NetIncome860.77M872.31M869.41M359.46M
MinorityInterests-6.57M-4.61M-3.01M-1.29M
NetIncomeIncludingNoncontrollingInterests867.34M876.91M872.42M360.75M
NetIncomeContinuousOperations867.34M876.91M872.42M360.75M
TaxProvision66.60M52.02M45.18M31.66M
PretaxIncome933.94M928.93M917.60M392.40M
OtherIncomeExpense-362.85M-55.77M74.32M-236.00M
OtherNonOperatingIncomeExpenses23.61M23.79M30.51M9.95M
SpecialIncomeCharges-522.12M-101.55M-39.39M-303.56M
OtherSpecialCharges-367.00K97.18M
WriteOff425.83M87.08M25.86M38.97M
ImpairmentOfCapitalAssets87.08M25.86M38.97M
RestructuringAndMergernAcquisition96.29M14.46M13.90M167.41M
EarningsFromEquityInterest7.79M2.55M-6.45M1.11M
GainOnSaleOfSecurity127.88M19.44M89.65M56.51M
NetNonOperatingInterestIncomeExpense-1.02B-737.61M-465.22M-323.64M
TotalOtherFinanceCost29.34M32.03M465.22M323.64M
InterestExpenseNonOperating998.10M779.04M445.45M319.09M
InterestIncomeNonOperating3.31M73.46M76.61M13.85M
OperatingIncome2.32B1.72B1.31B952.04M
OperatingExpense2.57B2.04B1.81B994.82M
DepreciationAmortizationDepletionIncomeStatement2.40B1.90B1.67B897.84M
DepreciationAndAmortizationInIncomeStatement2.40B1.90B1.67B897.84M
SellingGeneralAndAdministration176.90M144.54M138.46M96.98M
GeneralAndAdministrativeExpense176.90M144.54M138.46M96.98M
OtherGandA176.90M144.54M138.46M96.98M
GrossProfit4.89B3.76B3.12B1.95B
CostOfRevenue377.68M316.96M226.33M133.60M
TotalRevenue5.27B4.08B3.34B2.08B
OperatingRevenue5.04B3.96B3.30B2.06B
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber891.51M752.46M660.30M591.26M
ShareIssued891.51M752.46M660.30M591.26M
NetDebt25.78B21.29B17.94B15.18B
TotalDebt26.76B21.99B18.60B15.95B
TangibleBookValue27.59B24.19B19.81B16.10B
InvestedCapital65.07B54.46B46.82B40.50B
WorkingCapital1.62B1.01B-1.73B-1.06B
NetTangibleAssets27.59B24.19B19.81B16.10B
CapitalLeaseObligations530.15M469.56M489.56M505.74M
CommonStockEquity38.84B32.94B28.71B25.05B
TotalCapitalization63.94B53.70B44.09B38.94B
TotalEquityGrossMinorityInterest39.05B33.11B28.84B25.13B
MinorityInterest210.95M165.50M130.14M76.83M
StockholdersEquity38.84B32.94B28.71B25.05B
GainsLossesNotAffectingRetainedEarnings38.23M73.89M46.83M4.93M
OtherEquityAdjustments38.23M73.89M46.83M4.93M
RetainedEarnings-8.65B-6.76B-5.49B-4.53B
CapitalStock47.45B39.63B34.16B29.58B
CommonStock47.45B39.63B34.16B29.58B
TotalLiabilitiesNetMinorityInterest29.78B24.67B20.83B18.01B
TotalNonCurrentLiabilitiesNetMinorityInterest27.38B22.78B17.33B15.79B
OtherNonCurrentLiabilities1.68B1.44B1.40B1.32B
DerivativeProductLiabilities81.52M119.62M64.72M70.62M
LongTermDebtAndCapitalLeaseObligation25.63B21.23B15.87B14.40B
LongTermCapitalLeaseObligation530.15M469.56M489.56M505.74M
LongTermDebt25.10B20.76B15.38B13.89B
CurrentLiabilities2.40B1.89B3.50B2.22B
CurrentDeferredLiabilities352.33M312.19M269.64M242.12M
CurrentDeferredRevenue352.33M312.19M269.64M242.12M
CurrentDebtAndCapitalLeaseObligation1.13B764.39M2.73B1.55B
CurrentDebt1.13B764.39M2.73B1.55B
LineOfCredit1.13B764.39M2.73B1.55B
PayablesAndAccruedExpenses915.94M814.13M500.12M427.43M
CurrentAccruedExpenses473.74M414.14M242.84M213.89M
InterestPayable266.19M227.39M135.07M112.10M
Payables442.20M399.99M257.28M213.54M
DividendsPayable238.04M195.22M165.71M146.92M
TotalTaxPayable204.15M204.76M91.57M66.62M
IncomeTaxPayable84.88M61.07M22.63M19.15M
TotalAssets68.84B57.78B49.67B43.14B
TotalNonCurrentAssets64.82B54.88B47.90B41.98B
OtherNonCurrentAssets83.49M104.81M70.42M34.76M
NonCurrentDeferredAssets7.33M12.26M17.20M4.35M
FinancialAssets47.16M21.17M83.10M29.59M
InvestmentsAndAdvances1.24B1.18B5.95M148.46M
OtherInvestments6.14M6.06M5.95M7.49M
LongTermEquityInvestment1.23B1.17B0.00140.97M
InvestmentProperties50.91B43.51B37.75B31.96B
GoodwillAndOtherIntangibleAssets11.26B8.75B8.90B8.95B
OtherIntangibleAssets6.32B5.02B5.17B5.28B
Goodwill4.93B3.73B3.73B3.68B
NetPPE1.27B1.30B1.07B849.85M
GrossPPE1.27B1.30B1.07B849.85M
OtherProperties1.27B1.30B1.07B849.85M
CurrentAssets4.02B2.90B1.77B1.16B
AssetsHeldForSaleCurrent94.98M31.47M29.54M30.47M
RestrictedCash36.55M6.45M43.29M97.10M
PrepaidAssets63.50M33.25M28.13M18.06M
Inventory31.47M29.54M
FinishedGoods31.47M29.54M
Receivables3.38B2.59B1.50B755.14M
OtherReceivables1.61B1.57B933.12M323.92M
TaxesReceivable48.08M100.67M24.73M
AccruedInterestReceivable16.07M6.14M0.00
NotesReceivable0.004.46M
LoansReceivable828.50M205.34M0.00
AccountsReceivable877.67M710.54M543.24M426.77M
CashCashEquivalentsAndShortTermInvestments444.96M232.92M171.10M258.58M
CashAndCashEquivalents444.96M232.92M171.10M258.58M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow3.57B2.96B2.56B1.32B
RepurchaseOfCapitalStock-172.51M0.000.000.00
RepaymentOfDebt-38.37B-79.42B-27.75B-9.27B
IssuanceOfDebt39.54B82.61B30.69B10.12B
IssuanceOfCapitalStock1.74B5.44B4.56B4.44B
InterestPaidSupplementalData970.01M692.00M501.72M355.48M
IncomeTaxPaidSupplementalData32.28M12.28M45.03M19.68M
EndCashPosition495.51M292.18M226.88M332.37M
BeginningCashPosition292.18M226.88M332.37M850.68M
EffectOfExchangeRateChanges-5.90M24.02M-20.51M20.08M
ChangesInCash209.24M41.27M-84.98M-538.39M
FinancingCashFlow-21.16M6.44B5.74B4.58B
CashFlowFromContinuingFinancingActivities-21.16M6.44B5.74B4.58B
NetOtherFinancingCharges-67.80M-77.27M48.54M462.74M
CashDividendsPaid-2.70B-2.11B-1.81B-1.17B
PreferredStockDividendPaid-7.76M0.000.00
CommonStockDividendPaid-2.69B-2.11B-1.81B-1.17B
NetPreferredStockIssuance-172.51M0.000.00
PreferredStockPayments-172.51M0.000.00
NetCommonStockIssuance1.74B5.44B4.56B4.44B
CommonStockPayments0.00
CommonStockIssuance1.74B5.44B4.56B4.44B
NetIssuancePaymentsOfDebt1.18B3.19B2.95B840.69M
NetShortTermDebtIssuance358.40M-2.06B1.10B1.57B
ShortTermDebtPayments-36.53B-79.40B-27.43B-7.51B
ShortTermDebtIssuance36.89B77.34B28.54B9.08B
NetLongTermDebtIssuance817.42M5.25B1.84B-733.19M
LongTermDebtPayments-1.84B-22.02M-312.23M-1.77B
LongTermDebtIssuance2.66B5.27B2.15B1.03B
InvestingCashFlow-3.34B-9.35B-8.39B-6.44B
CashFlowFromContinuingInvestingActivities-3.34B-9.35B-8.39B-6.44B
NetOtherInvestingChanges-571.79M-174.54M49.27M-28.39M
NetInvestmentPropertiesPurchaseAndSale-2.79B-8.00B-8.55B-6.08B
SaleOfInvestmentProperties589.45M117.35M436.12M250.54M
PurchaseOfInvestmentProperties-3.38B-8.12B-8.98B-6.33B
NetBusinessPurchaseAndSale23.30M-1.18B109.49M-327.69M
SaleOfBusiness93.68M3.93M109.49M38.34M
PurchaseOfBusiness-70.38M-1.18B0.00-366.03M
OperatingCashFlow3.57B2.96B2.56B1.32B
CashFlowFromContinuingOperatingActivities3.57B2.96B2.56B1.32B
DividendReceivedCFO21.04M5.81M1.60M365.00K
ChangeInWorkingCapital30.69M174.01M-34.81M-63.01M
ChangeInPayablesAndAccruedExpense2.61M285.29M-5.29M-24.71M
ChangeInPayable2.61M285.29M-5.29M-24.71M
ChangeInAccountPayable2.61M285.29M-5.29M-24.71M
ChangeInReceivables28.08M-111.29M-29.52M-38.29M
ChangesInAccountReceivables28.08M-111.29M-29.52M-38.29M
OtherNonCashItems-95.36M-108.82M-118.01M-24.89M
StockBasedCompensation57.49M26.23M21.62M41.77M
AssetImpairmentCharge425.83M87.08M25.86M38.97M
DeferredTax3.55M0.000.00
DeferredIncomeTax3.55M0.000.00
DepreciationAmortizationDepletion2.40B1.90B1.67B897.84M
DepreciationAndAmortization2.40B1.90B1.67B897.84M
OperatingGainsLosses-132.96M2.37M124.79M70.40M
EarningsLossesFromEquityInvestments-7.79M-2.55M6.45M-1.11M
GainLossOnInvestmentSecurities-105.77M-32.86M-102.24M-52.89M
NetForeignCurrencyExchangeGainLoss-19.39M37.78M220.95M27.22M
NetIncomeFromContinuingOperations867.34M876.91M872.42M360.75M
SEC Filings

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

Public Trades for O
Date User Asset Broker Type Position Size Entry Price Patterns