REALTY INCOME CORP · REIT (real estate trust)

O

Moderate riskNext report: In 6 days (est.)

View price ↗

The short version

A profitable company with steady sales. Institutions are adding.

Going well

Raised its dividend (5.6% yield)
Profitable every year for 10 years
Brings in more cash than it spends

Watch out for

Share count growing 14.1% a year (dilution)

Money moves

No insider buying or selling in the last 30 days
Institutions added 4.9% to their holdings in the quarter ending June 2026 (770 bought, 560 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$57.15+0.5% that day

Company value: $54.1B; Share price times all shares
Price vs profit (P/E): 41.4x; You pay about $41 for each $1 of yearly profit
Price vs sales: 8.9x; Company value is 8.9 times a year of sales
Dividend yield: 5.6%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value
Debt vs value: 46%; Debt as a share of company value

From O's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.5B+9.7% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $6.1B, up 11% from the 12 months before. Over 5 years, sales grew about 28% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of O. Starting points are the company's recent numbers.

Sales growth+11% a yearRecently: +11% a yearProfit margin22%Last 12 months: 21.5%P/E at the end40xToday: 41.4x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$10.2B

Profit in 5 years$2.2B

Price these guesses point to$58.92+3.1% vs $57.15 todayAbout +0.6% a year, before dividends

What today's price needs: with a 22% margin and a 40x P/E, sales would have to grow about 10% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.2.7%
MissDebt under half of equityNot relying on borrowed money.0.63x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.18.4%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$4.0B
MissShare count not growingNot diluting owners. Falling means buybacks.+48.4% in 3 years

Revenue: $5.7B; +9.1% vs prior year
5-year growth: +28.4%/yr; revenue, per year
Total debt: $25.0B; 0.63x equity
Free cash flow: $4.0B; 69.5% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 5

Revenue: $1.5B; +9.7% YoY
EPS: $0.37; vs $0.22
Free cash flow: $1.1B
Share count: +3.4%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.6
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+4.9%

Institutions added 4.9% to their holdings. 770 bought, 560 sold.

Shares held by institutions745.1M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+10.1%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.6x · $25.1B debt

Shares outstandingLatest reported

946M

Why moderate risk

Share count growing 10.1% a year (dilution)
4 offering filings in 6 months (may sell new shares)

Earnings reports

Last 12

Next reportIn 6 days (est.)Estimated from the same quarter last year

Results filedAug 5
Results filedMay 6
Results filedFeb 24
Results filedNov 3, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New debtAug 14 · View filing ↗Offering Offering prospectusJun 30 · View filing ↗Offering Offering prospectusJun 29 · View filing ↗Offering Offering prospectusMay 8 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Planned insider saleSep 10 · Form 144 ↗

SoldGregory MclaughlinDirector

3,475 shares at $60.15 · $209K

-9% of holdings
Now owns 34,732 shares
Not a pre-planned sale
Held by Trust
Filed same day

Sep 10Form 4 ↗

Other company newsAug 25 · Form 8-K ↗New debtAug 14 · Form 8-K ↗Other company newsAug 12 · Form 8-K ↗Other company newsAug 11 · Form 8-K ↗Quarterly reportAug 6 · Form 10-Q ↗Earnings resultsAug 5 · Form 8-K ↗Major agreementJul 13 · Form 8-K ↗Other company newsJul 7 · Form 8-K ↗8-A12BJul 7 · Form 8-A12B ↗CERTJul 7 · Form CERT ↗Other company newsJun 30 · Form 8-K ↗Offering prospectusJun 30 · Form 424B5 ↗

Shares withheld for taxesNeale RedingtonSee Remarks

240 shares at $63.12 · $15K

-1% of holdings
Now owns 23,618 shares
Filed 3 days after trade

Jun 27Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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