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Realty Income (O) stock

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NYSE: O NYSE Retail REITs Next results ~February 1, 2027

B Fundamentals grade

Realty Income is a US-listed company in the retail REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$73

Valuation models combined (2)

Base case. Range ~$66–$77. Weighted average of 2 models (funds-from-operations model, dividend discount (growing dividend)), the funds-from-operations model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Realty Income valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Realty Income files

Where Realty Income stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.05bn, up 10.9% on a year earlier, faster than 9.8% a quarter earlier. The diluted share count is up 4.5% on a year earlier, which dilutes existing holders. Our valuation models combined value is $66.26 a share, against a share price of $56.13.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 1, 2027 (estimated)

Realty Income's trailing-twelve-month revenue grew 10.8% year on year, with a free-cash-flow margin of 64.1%. Where it stands out: stock pay as % of revenue of 0.6% ranks 2 of 21 retail reits companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 9.1% while net income grew 40.9%: a 32pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 64.1% of revenue turned into free cash flow.

Things to watch

  • Share dilution. Diluted shares rose 4.1% in a year.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 9.8% over 90 days.
  • Earnings expected to fall. The consensus expects earnings per share to fall 4% next year.

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$0.43 against an average estimate of $0.43: missed by 1.4%
Revenue
$1.62bn, up 10.3% on a year earlier
Guidance given
AFFO per share $4.44 to $4.45 (2026); AFFO per share growth rate growth 4% (2026)
Next report
November 2, 2026; average EPS estimate $0.43

Realty Income's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.1%
  • 1 week+1.2%
  • 1 month+6.9%
  • This year+6.8%
  • 1 year+4.8%
  • 5 years+6.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.2B
Net margin
21.8%
EPS (TTM, diluted)
$1.45

Growth

Revenue growth
+10.8%
Change in growth rate
−0.1 pts
Share count change
+4.1%

Earnings

Last results
November 2, 2026
Next results (est.)
February 1, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Financing
  4. Announcement
  5. Announcement
  6. Results
  7. Guidance
  8. Agreement
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Realty Income valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Realty Income as an equity reit, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.55 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$77 ~$65–$94 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$1.5 ~$35–$72 Left out: out of range vs price (0.03x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$66 ~$55–$83 Included
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$73 ~$66–$77 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Realty Income with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

59 /100

Moderate moat

How hard Realty Income's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Durability 18 / 20

    Net margin has been a median 23.8%; its worst year was 17.2%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 9 of 9 years, at a median 69.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 150.4% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.51 +29% $5.8bn +6%
Next $1.55 −4% $6.1bn +6%

Next year's EPS estimate has moved −9.8% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.7% on 90 days ago. In the last 30 days, 0 analysts raised Realty Income's forecast and 1 cut it.

Consensus EPS forecast Realty Income, last 90 days
$1.50 $1.60 $1.70 $1.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.57 Current fiscal year, 60 days ago: $1.55 Current fiscal year, 30 days ago: $1.51 Current fiscal year, 7 days ago: $1.51 Current fiscal year, Now: $1.51 $1.51 Next fiscal year, 90 days ago: $1.72 Next fiscal year, 60 days ago: $1.71 Next fiscal year, 30 days ago: $1.59 Next fiscal year, 7 days ago: $1.55 Next fiscal year, Now: $1.55 $1.55

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.57$1.72
60 days ago $1.55$1.71
30 days ago $1.51$1.59
7 days ago $1.51$1.55
Now $1.51$1.55

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.43 $0.43 −1.4%
Jun 2026 $0.42 $0.37 −12.7%
Mar 2026 $0.42 $0.34 −17.5%
Dec 2025 $0.41 $0.33 −18.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Net income per share 2026 $1.59 to $1.60 Non-GAAP
    “Net income per share (2) $1.59 - $1.60 $1.60 - $1.63 $0.70” source
  • AFFO per share 2026 $4.44 to $4.45 Non-GAAP Raised
    “As a result, we are pleased to raise our 2026 AFFO per share guidance to $4.44 - $4.45, reflecting approximately 4% growth rate at the midpoint.” source
  • AFFO per share growth rate 2026 about 4% growth Non-GAAP Raised
    “As a result, we are pleased to raise our 2026 AFFO per share guidance to $4.44 - $4.45, reflecting approximately 4% growth rate at the midpoint.” source
  • Real estate depreciation per share 2026 about $2.66
    “Real estate depreciation per share $2.66 $2.65 $1.36” source
  • Other adjustments per share 2026 about $0.19
    “Other adjustments per share (3) $0.19 $0.16 $0.16” source
  • Same store rent growth 2026 1.1% growth to 1.3% growth
    “Same store rent growth 1.1% - 1.3% 1.0% - 1.3% 1.0%” source
Show 6 more items
  • Occupancy 2026 about 98.5%
    “Occupancy Approx 98.5% Approx 98.5% 98.8%” source
  • Cash G&A expenses (% of total Gross Asset Value) 2026 21 to 22
    “Cash G&A expenses (% of total Gross Asset Value) (4)(5) 21 - 22 bps 20 - 23 bps 11 bps” source
  • Property expenses (non-reimbursable) (% of total revenue) 2026 about 1.5%
    “Property expenses (non-reimbursable) (% of total revenue) (6) Approx 1.5% Approx 1.5% 1.4%” source
  • Income tax expenses 2026 $100m to $110m
    “Income tax expenses $100 - $110 million $100 - $110 million $52 million” source
  • Investment volume (at 100%) 2026 about $10bn
    “Investment volume (at 100%) $10.0 billion $9.5 billion $5.3 billion” source
  • Lease termination income 2026 $45m to $50m
    “Lease termination income $45 - $50 million $45 - $50 million $41 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

25 analysts, Nov 2026
Buy728%
Hold1768%
Sell14%

Monthly trend

  1. Nov 2026251725
  2. Oct 202661624
  3. Sep 2026351524

Counts of recommendations published by analysts covering Realty Income, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.6%
of tradable shares
Days to cover
4
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
80%
of shares
Held by insiders
0.1%
of shares
Employees
544
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +4.8%

$54.95 on October 31, 2025 to $57.58

ThenNowEffect
Revenue (last 12 months) $5.5bn $6.1bn +10.9%
Net margin 16.8% 20.9% +24.9%
P/E multiple 53.2x 42.1x −20.8%
Share count 886m 927m −4.3%

Biggest factor: p/e multiple.

Last 3 years +33.7%

$43.08 on November 3, 2023 to $57.58

ThenNowEffect
Revenue (last 12 months) $3.7bn $6.1bn +64.1%
Net margin 23.5% 20.9% −10.9%
P/E multiple 32.1x 42.1x +30.9%
Share count 647m 927m −30.2%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
O+24%−7%−5%−2%+12%+7%
Industry peers (median)+51%−14%+7%+15%−3%+11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
O58%58%42%42%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
O−11%−25%−30%−19%−10%−19%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 48% from February 21, 2020 to March 18, 2020. Getting back needed a 93% gain, reached on April 14, 2022, 757 days after the low.

Price behaviour

52-week range
$53.10 – $65.19
From 52-week high
−11.7%
vs 50-day average
+1.1%
vs 200-day average
−4.3%
Volatility (1 year)
17%
Beta vs S&P 500
-0.09

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 9 down
typical move ±1.2%
After a week
4 up, 7 down
typical move ±1.4%
After a month
4 up, 7 down
typical move ±3.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −0.9% −0.4% −0.5% −1.4%
May 6, 2026 −2.8% +1.1% −3.2% −3.9%
February 24, 2026 −1.0% +1.6% +0.2% −9.6%
November 3, 2025 −3.2% −1.0% −2.8% +0.7%
August 6, 2025 −0.2% +0.7% +1.2% +4.1%
May 5, 2025 −0.3% −1.4% −1.8% −1.4%
February 24, 2025 −1.5% −1.0% +1.3% −2.1%
November 4, 2024 −0.1% +1.0% −2.1% −4.2%
August 5, 2024 +1.9% −2.0% +1.7% +6.2%
May 6, 2024 −0.4% +1.1% −0.5% −1.7%
February 20, 2024 +0.7% −0.5% 0.0% +0.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Realty Income in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Realty Income
$4B $5B $6B $7B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $4.1B Revenue (TTM), FY24 Q1: $4.4B Revenue (TTM), FY24 Q2: $4.7B Revenue (TTM), FY24 Q3: $5B Revenue (TTM), FY24 Q4: $5.3B Revenue (TTM), FY25 Q1: $5.4B Revenue (TTM), FY25 Q2: $5.5B Revenue (TTM), FY25 Q3: $5.6B Revenue (TTM), FY25 Q4: $5.7B Revenue (TTM), FY26 Q1: $5.9B Revenue (TTM), FY26 Q2: $6.1B Revenue (TTM), FY26 Q3: $6.2B $6.2B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $4.1B
FY24 Q1 $4.4B
FY24 Q2 $4.7B
FY24 Q3 $5B
FY24 Q4 $5.3B
FY25 Q1 $5.4B
FY25 Q2 $5.5B
FY25 Q3 $5.6B
FY25 Q4 $5.7B
FY26 Q1 $5.9B
FY26 Q2 $6.1B
FY26 Q3 $6.2B
Revenue growth, TTM YoY Realty Income
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 22.0% Revenue growth, TTM YoY, FY24 Q1: 26.3% Revenue growth, TTM YoY, FY24 Q2: 27.8% Revenue growth, TTM YoY, FY24 Q3: 28.7% Revenue growth, TTM YoY, FY24 Q4: 29.2% Revenue growth, TTM YoY, FY25 Q1: 22.7% Revenue growth, TTM YoY, FY25 Q2: 15.8% Revenue growth, TTM YoY, FY25 Q3: 11.9% Revenue growth, TTM YoY, FY25 Q4: 9.1% Revenue growth, TTM YoY, FY26 Q1: 9.8% Revenue growth, TTM YoY, FY26 Q2: 10.9% Revenue growth, TTM YoY, FY26 Q3: 10.8% 10.8%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 22.0%
FY24 Q1 26.3%
FY24 Q2 27.8%
FY24 Q3 28.7%
FY24 Q4 29.2%
FY25 Q1 22.7%
FY25 Q2 15.8%
FY25 Q3 11.9%
FY25 Q4 9.1%
FY26 Q1 9.8%
FY26 Q2 10.9%
FY26 Q3 10.8%
FCF margin (TTM) Realty Income
62% 64% 66% 68% 70% 72% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 70.9% FCF margin (TTM), FY24 Q1: 66.9% FCF margin (TTM), FY24 Q2: 67.1% FCF margin (TTM), FY24 Q3: 65.0% FCF margin (TTM), FY24 Q4: 65.5% FCF margin (TTM), FY25 Q1: 63.9% FCF margin (TTM), FY25 Q2: 64.9% FCF margin (TTM), FY25 Q3: 65.1% FCF margin (TTM), FY25 Q4: 67.2% FCF margin (TTM), FY26 Q1: 66.7% FCF margin (TTM), FY26 Q2: 66.1% FCF margin (TTM), FY26 Q3: 64.1% 64.1%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 70.9%
FY24 Q1 66.9%
FY24 Q2 67.1%
FY24 Q3 65.0%
FY24 Q4 65.5%
FY25 Q1 63.9%
FY25 Q2 64.9%
FY25 Q3 65.1%
FY25 Q4 67.2%
FY26 Q1 66.7%
FY26 Q2 66.1%
FY26 Q3 64.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2008 Dec 2008 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 325 323 343 421 1,103 1,216 1,328 1,488 1,647 2,080 3,344 4,079 5,271 5,749 6,206
Net income 132 131 131 157 316 319 364 436 395 359 869 872 861 1,059 1,356
Diluted EPS — — $0.49 $0.51 $1.09 $1.07 $1.22 $1.38 $1.14 $0.87 $1.42 $1.26 $0.98 $1.17 $1.45
Growth (year on year)
Revenue — −0.8% +6.5% +22.6% +162.0% +10.2% +9.2% +12.1% +10.7% +26.3% +60.7% +22.0% +29.2% +9.1% +10.8%
Net income — −0.5% −0.3% +20.1% +101.0% +1.0% +14.1% +20.0% −9.4% −9.1% +141.9% +0.3% −1.3% +23.0% +40.9%
Diluted EPS — — — +4.0% +115.2% −2.7% +14.5% +13.0% −17.4% −23.7% +63.2% −11.3% −22.2% +19.4% +35.3%
Margins
Net margin 40.6% 40.7% 38.1% 37.3% 28.6% 26.2% 27.4% 29.3% 24.0% 17.3% 26.0% 21.4% 16.3% 18.4% 21.8%
Free-cash-flow margin — — — 70.0% 71.3% 70.8% 68.9% 70.2% 67.2% 62.6% 73.8% 70.9% 65.5% 67.2% 64.1%
Cash flow
Cash from operations 246 227 243 299 800 876 941 1,069 1,116 1,322 2,564 2,959 3,573 3,995 4,149
Capital spending — — — 4 13 15 25 24 9 19 96 69 121 132 172
Free cash flow — — — 295 786 861 915 1,045 1,107 1,303 2,468 2,890 3,452 3,863 3,977
Stock-based pay 5 5 6 8 12 14 27 14 17 42 22 26 57 31 36
Free cash flow after stock pay — — — 287 774 847 888 1,032 1,090 1,261 2,447 2,864 3,394 3,832 3,941
Balance sheet
Cash — — — — 9 7 10 54 824 259 171 233 445 435 369
Total debt — 0 0 1,750 3,975 — 303 410 300 2,043 1,556 1,586 148 555 1,537
Net debt (negative = net cash) — — — — 3,966 −7 292 356 −524 1,785 1,385 1,353 −297 120 1,168
Diluted shares 202m 207m 212m 252m 256m 274m 290m 316m 345m 415m 612m 693m 864m 908m 934m
Returned to shareholders
Dividends 170 178 183 219 611 689 762 852 964 1,169 1,813 2,112 2,692 2,921 3,027
Total returned 170 178 183 219 611 689 762 852 964 1,169 1,813 2,112 2,692 2,921 3,027

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Dividends (TTM)
$3B
Returned to shareholders
76%
of free cash flow
Diluted share count
+4.1%
year over year
Total shareholder yield
5.5%
dividends 5.5% + buybacks 0.0% of market value
Dividend payout ratio
223%
of net income paid out

Competitors: side by side with peers

Closest by revenue in retail reits
Last 12 months unless stated O SPG KIM REG BRX FRT Median
Revenue, last 12 months $6.2bn $6.9bn $2.2bn $1.6bn $1.4bn $1.4bn $516m
Revenue growth, last 12 months 10.8% 15.0% 3.5% 8.2% 5.7% 7.8% 8.5%
Revenue growth, 3-year average 16.8% 8.5% 7.4% 9.0% 4.8% 6.5% 8.2%
Revenue growth, latest quarter 10.3% 19.5% 1.9% 8.6% 5.5% 5.2% 7.1%
Operating margin — 47.4% 40.1% 72.0% — 47.7% 44.2%
Operating margin, 3-year average — 49.8% 35.7% — — 43.3% 35.7%
Net margin 21.8% 66.5% 34.1% 34.4% 30.0% 32.6% 26.8%
Cash from operations / revenue 66.9% 59.4% 56.3% 53.0% 48.4% 48.2% 48.6%
Free-cash-flow margin 64.1% 46.4% 56.3% 26.7% 18.5% 18.8% 20.3%
Free-cash-flow margin, 3-year average 64.7% 50.2% 38.8% 27.3% 17.8% 19.1% 20.1%
Stock pay / revenue 0.6% — 1.6% 1.2% 1.1% 1.1% 1.7%
Change in share count 4.1% −0.3% −0.6% 1.0% 0.2% 1.4% 2.6%

Median of all 24 companies we cover in retail reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

24 retail reits companies
Measure Company Peer median Rank
Revenue growth Growth 10.8% 8.7% 9 of 24
Change in growth rate Growth -0.1pp -0.3pp 10 of 24
Net margin Profitability 21.8% 29.8% 14 of 24
Stock pay as % of revenue Cash generation 0.6% 1.8% 2 of 21
Change in share count Balance sheet 4.1% 4.1% 12 of 22

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Product and Service Retail $4.3B ▲ 7.9%
Product and Service Industrial $864M ▲ 8.7%
Other $247M ▲ 3.6%

These categories overlap or exclude eliminations, so shares aren't shown.

From Realty Income's 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$46.2B
Institutions reporting
1,456
Shares held vs prior quarter
▲ 4.9%
Positions opened / closed
120 / 93

Top buyers and sellers, Q2 2026: 778 institutions bought and 564 sold ; the biggest buyer was UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC (+10.3M shares) and the biggest seller Jpmorgan Chase & Co (−7.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $7B 112.9M 15.1% ▲ 4.7%
Vanguard Portfolio Management LLC $5.1B 83.1M 11.1% ▲ 2.3%
State Street Corp $4.1B 65.9M 8.9% ▲ 3.4%
Vanguard Capital Management LLC $3.8B 60.8M 8.2% ▲ 1.2%
Geode Capital Management, LLC $2B 31.3M 4.2% ▲ 3.2%
Bank Of America Corp $1.2B 19.1M 2.6% ▲ 10.3%
Morgan Stanley $895M 14.4M 1.9% ▼ 5.3%
Dimensional Fund Advisors LP $835M 13.5M 1.8% ▲ 3.5%
Charles Schwab Investment Management Inc $810M 13.1M 1.8% ▲ 7.2%
Norges Bank $804M 13.0M 1.7% —
Raymond James Financial Inc $747M 12.1M 1.6% ▼ 0.2%
Goldman Sachs Group Inc $743M 12.0M 1.6% ▲ 178.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Realty Income's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $873,554 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $873,554 net selling
Insider Date Trade Shares Price Value
Mclaughlin Gregory Director September 10, 2026 Sell 3,475 $60.15 $209,022
Bushore Michelle See Remarks April 2, 2026 Sell 7,400 $62.42 $461,908
Mclaughlin Gregory Director April 1, 2026 Sell 3,275 $61.87 $202,624

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 18 trades and filings

In the last 12 months, 2 members of Congress disclosed 2 purchases and 2 sales of Realty Income shares.

  • Richard McCormick(R-GA 7):Sale (full), $1,001 - $15,000, traded July 30, 2026, filed August 14, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded December 19, 2025, filed January 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded November 12, 2025, filed December 15, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 5, 2026
  • May 6, 2026
  • February 24, 2026
  • November 3, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Realty Income was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Realty Income in brief

What does Realty Income do?
Realty Income is a US-listed company in the retail REITs industry. Its financial year ends in December.
What is Realty Income's stock ticker?
Realty Income trades under the ticker O on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Realty Income's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Realty Income reported revenue of $6.2B, 10.8% higher than a year earlier, according to its SEC filings.
What is Realty Income's free cash flow?
Realty Income's free-cash-flow margin is 64.1% of revenue over the trailing twelve months.
Who are Realty Income's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Realty Income's market cap?
On November 2, 2026, Realty Income's market capitalisation was about $53.8B, with a price-to-earnings ratio of 39.7 and net debt of $1.2B. Market figures come from third-party market data and may be delayed.
Does Realty Income pay a dividend?
Yes: Realty Income paid $3B in dividends over the trailing twelve months, a dividend yield of 5.53% and a payout ratio of 223.3%.
Who are Realty Income's competitors?
In our Retail REITs peer group, the companies closest to Realty Income are Simon Property Group, Kimco Realty, Regency Centers, Brixmor Property Group Inc. and Federal Realty Investment Trust. The side-by-side comparison below sets their revenue, margins and growth against Realty Income's.
Are insiders buying or selling Realty Income stock?
Over the last 12 months, Realty Income's directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Realty Income's next earnings date?
Around February 1, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Realty Income announces its own schedule.