Morningstar Rating
Stock XNYS Rating as of
$54.26 +0.23(0.43%)
View Full ChartAs of Delayed Price Pre-Open:$54.31 +0.05
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Company Report
Company Report
Realty Income Earnings: Invests Over $300 Million in Europe at Average 8.2% Cap Rate
Kevin Brown
Realty Income reported first-quarter results that were slightly better than we anticipated, leading us to reaffirm our $76 fair value estimate for the no-moat company. Economic occupancy declined 10 basis points sequentially to 98.8%, though that is slightly better than our 98.6% estimate. Re-leasing spreads were 4.3%, better than our estimate of new rent being 2.5% higher compared with prior lease terms. However, same-store net operating income was only up 0.8%, below our estimate of 2.3% growth. Still, Realty Income reported adjusted funds from operations of $1.03 per share, a penny better than our $1.02 estimate and $0.05 better than the $0.98 the company reported in the first quarter of 2023.
Price vs Fair Value
Price vs Fair Value
O is trading at a 33% premium.
Price
$54.26
Fair Value
$84.00
Uncertainty
Low
- 1-Star Price
- $35.00
- 5-Star Price
- $62.30
- Economic Moat
- Nqgd
- Capital Allocation
- Mjklhjbyd
Bulls Say, Bears Say
Bulls Say, Bears Say
Bulls
Realty Income provides a reliable, albeit slow-growing, monthly dividend built on a steadily performing underlying portfolio through various market conditions.
Bears
It will take an increasingly greater volume of attractive risk-adjusted acquisitions to create meaningful shareholder value growth, possibly pushing Realty Income to take more risk as competition expands for its traditionally targeted assets.
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News
News
- Realty Income Raises 2024 Earnings and Investment Guidance
- Realty Income Announces Common Stock Dividend Increase of 2.1% and Declares Preferred Stock Quarterly Dividend
- 646th Consecutive Common Stock Monthly Dividend Declared by Realty Income
- REALTY INCOME ANNOUNCES FIRST QUARTER 2024 EARNINGS RELEASE DATE
- 124th Common Stock Monthly Dividend Increase Declared by Realty Income
- Spirit Realty's stock rallies on $9 billion buyout by Realty Income Corp.
- Blackstone sells Bellagio stake to Realty Income Corp. in post-COVID rebound
- Do you need investment income? Here are 20 REIT stocks with dividends expected to be well supported through 2025.
Trading Information
Trading Information
- Previous Close Price
- $54.03
- Day Range
$53.56–54.37
- 52-Week Range
$45.04–64.18
- Bid/Ask
- $54.21/$54.32
- Market Cap
- $47.25 Bil
- Volume/Avg
- 757/5.8 Mil
Key Statistics
Key Statistics
- Price/Earnings (Normalized)
- 39.43
- Price/Sales
- 9.09
- Dividend Yield (Trailing)
- 5.67%
- Dividend Yield (Forward)
- 5.68%
- Total Yield
- 5.67%
Company Profile
Company Profile
Realty Income owns roughly 13,400 properties, most of which are freestanding, single-tenant, triple-net-leased retail properties. Its properties are located in 49 states and Puerto Rico and are leased to 250 tenants from 47 industries. Recent acquisitions have added industrial, gaming, office, manufacturing, and distribution properties, which make up roughly 17% of revenue.
- Sector
- Real Estate
- Industry
- REIT - Retail
- Stock Style Box
- Mid Core
- Total Number of Employees
- 418
- Website
- https://www.realtyincome.com
Competitors
Competitors
- Regency Centers Corp REG
- Federal Realty Investment Trust FRT
- Kimco Realty Corp KIM
Valuation
Valuation
| Metric | O | REG | FRT |
|---|---|---|---|
Price/Earnings (Normalized) | 39.43 | 30.47 | 38.18 |
Price/Book Value | 1.21 | 1.67 | 3.07 |
Price/Sales | 9.09 | 8.07 | 7.24 |
Price/Cash Flow | 13.69 | 14.53 | 14.94 |
Price/Earnings
O
REG
FRT
Financial Strength
Financial Strength
| Metric | O | REG | FRT |
|---|---|---|---|
Quick Ratio | 1.49 | 1.24 | 1.01 |
Current Ratio | 1.55 | 1.35 | 1.01 |
Interest Coverage | 1.96 | 3.32 | 2.40 |
Quick Ratio
O
REG
FRT
Profitability
Profitability
| Metric | O | REG | FRT |
|---|---|---|---|
Return on Assets (Normalized) | 1.94% | 3.36% | 3.13% |
Return on Equity (Normalized) | 3.39% | 6.10% | 9.43% |
Return on Invested Capital (Normalized) | 3.39% | 4.59% | 5.04% |
Return on Assets
O
REG
FRT
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REIT - Retail Industry Comparables
REIT - Retail Industry Comparables
| 1-Day Chart | Name | Price | Morningstar Rating for Stocks | Capital Allocation | Economic Moat | Market Cap |
|---|---|---|---|---|---|---|
| Simon Property Group Inc SPG | Ztcfhbpd | Xmq | $50.1 Bil | |||
| Kimco Realty Corp KIM | Hczfwvsnd | Pwt | $12.8 Bil | |||
| Unibail-Rodamco-Westfield Act. SIIC ET STES FONC.EUROP. UNBLF | — | Mhn | $12.3 Bil | |||
| Unibail-Rodamco-Westfield ADR UNIRF | — | Vscl | $12.3 Bil | |||
| Regency Centers Corp REG | Lzjgghpm | Dcgx | $11.4 Bil | |||
| Link Real Estate Investment Trust LKREF | — | Mlty | $11.2 Bil | |||
| Scentre Group STGPF | — | Tgwcj | $11.1 Bil | |||
| Federal Realty Investment Trust FRT | Rntjsdxm | Hdjt | $8.5 Bil | |||
| Macerich Co MAC | Mkgjkqjqy | Cfpl | $3.3 Bil |
