Reading the tape
NYSE: O
Realty Income Corporation
Real Estate · REIT - Retail
Market Cap
$57.74B
52w High
$67.94
52w Low
$54.38
P/E
50.00
Volume
5.42M
Outstanding Shares
932.45M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 10.08%Revenue (TTM): 9.77%FCF (TTM): 16.86%P/FCF: 10th pct
What changed
The stock rose 10.08% over the last year. Revenue grew 9.77% over the trailing twelve months. Operating margin moved from 44.21% to 29.27%. Free cash flow grew 16.86% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 29.27%. A decisive move in revenue — currently up 9.77% — would be the clearest signal to resolve the ambiguity.
Company profile
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income.
CEOSumit Roy
SectorReal Estate
IndustryREIT - Retail
Employees468
IPO dateOct 18, 1994
Valuation
Forward P/E—
EV/EBITDA23.49
Enterprise value$83.42B
Price / Book1.46
Stock splits
Nov 15, 2021↑ Forward
Every 125 shares became 129
Jan 3, 2005↑ Forward
Every 1 shares became 2
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth12.19%
Gross margin68.62%▼3.27%vs FY2024
Operating margin29.27%▼35.73%vs FY2024
ROE2.68%▲21.12%vs FY2024
Analyst consensus
RatingHold
Target price$66.00▲6.59%
13
Buy
18
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 5, 2026
Q3 FY26 · EPS est $0.41 · Revenue est $1.41B
View
Dividends
$3.24/shareMonthlyDividend Achiever · 15yrAdequateO pays a dividend with a 5.22% dividend yield, 15 consecutive years of growth, growing at 3.49% annually, covered 1.4× by free cash flow.
Dividend Yield
5.22%
Annual Div / Share
$3.24
5yr CAGR
+3.49%
Doubles every ~20.2yr
FCF Coverage
1.4×
Adequate
Dividend Growth Rate
3yr CAGR
+2.6%
5yr CAGR
+3.49%
10yr CAGR
+3.71%
Dividend Safety
5/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$3.23+1.9%
2024$3.17+3.3%
2023$3.07+2.6%
2022$3.00+5.1%
2021$2.85+4.6%
2020$2.72+2.3%
2019$2.66+3.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$52/yr
$4/mo
In 5 yrs
$62/yr+19%
$5/mo
In 10 yrs
$74/yr+41%
$6/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$52/yr $4/mo | $62/yr+19% $5/mo | $74/yr+41% $6/mo |
Yield-on-cost grows from 5.22% → 7.36% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
O has raised its dividend for 15 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Risks to Watch
No strong risk signal stands out from the latest period pair.