(O) Realty Income - Overview
Stock: Commercial Real Estate, Net Lease, Monthly Dividends, Retail Properties
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.10% |
| Yield on Cost 5y | 7.06% |
| Yield CAGR 5y | 4.55% |
| Payout Consistency | 99.2% |
| Payout Ratio | 127.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 17.7% |
| Relative Tail Risk | 1.57% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.07 |
| Alpha | 16.56 |
| Character TTM | |
|---|---|
| Beta | 0.191 |
| Beta Downside | 0.167 |
| Drawdowns 3y | |
|---|---|
| Max DD | 28.75% |
| CAGR/Max DD | 0.13 |
Description: O Realty Income January 27, 2026
Realty Income Corp. (NYSE: O) is an S&P 500 “monthly-dividend” REIT that acquires and manages net-lease properties for a diversified tenant base. Founded in 1969, the firm now holds more than 15,500 assets across all 50 U.S. states, the United Kingdom and seven additional European countries, and has delivered 666 uninterrupted monthly dividend payments, qualifying it for the Dividend Aristocrats index after 30+ years of dividend growth.
Key recent metrics (FY 2025): FFO of $1.23 billion (up 7% YoY), portfolio occupancy of 96.8%, and a trailing-12-month dividend yield of 4.9% on a $2.84 per share monthly payout. Net debt-to-FFO stands at 5.1×, with 70% of maturities extending beyond 2028, indicating a relatively stable balance sheet despite a rising interest-rate environment.
The REIT’s performance is driven by three macro-level factors: (1) inflation-linked rent escalations embedded in triple-net leases, (2) the health of the retail and industrial tenant sectors-particularly e-commerce and essential-services retailers that dominate the portfolio, and (3) the prevailing U.S. Treasury yield curve, which influences both cost of capital and investor demand for high-yielding, dividend-focused assets.
For a deeper quantitative dive, you might explore ValueRay’s REIT valuation dashboard.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 962.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.40 > 1.0 |
| NWC/Revenue: 32.05% < 20% (prev 38.46%; Δ -6.41% < -1%) |
| CFO/TA 0.05 > 3% & CFO 3.76b > Net Income 962.1m |
| Net Debt (28.48b) to EBITDA (4.35b): 6.55 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (915.2m) vs 12m ago 4.95% < -2% |
| Gross Margin: 92.56% > 18% (prev 0.93%; Δ 9163 % > 0.5%) |
| Asset Turnover: 8.02% > 50% (prev 7.31%; Δ 0.70% > 0%) |
| Interest Coverage Ratio: 1.70 > 6 (EBITDA TTM 4.35b / Interest Expense TTM 1.09b) |
Altman Z'' 1.16
| A: 0.03 (Total Current Assets 5.09b - Total Current Liabilities 3.29b) / Total Assets 71.28b |
| B: -0.14 (Retained Earnings -10.08b / Total Assets 71.28b) |
| C: 0.03 (EBIT TTM 1.86b / Avg Total Assets 69.87b) |
| D: 1.22 (Book Value of Equity 39.05b / Total Liabilities 32.02b) |
| Altman-Z'' Score: 1.16 = BB |
Beneish M -2.75
| DSRI: 1.29 (Receivables 4.39b/3.03b, Revenue 5.60b/5.01b) |
| GMI: 1.00 (GM 92.56% / 92.75%) |
| AQI: 0.98 (AQ_t 0.91 / AQ_t-1 0.93) |
| SGI: 1.12 (Revenue 5.60b / 5.01b) |
| TATA: -0.04 (NI 962.1m - CFO 3.76b) / TA 71.28b) |
| Beneish M-Score: -2.75 (Cap -4..+1) = A |
What is the price of O shares?
Over the past week, the price has changed by +3.38%, over one month by +10.61%, over three months by +13.82% and over the past year by +23.17%.
Is O a buy, sell or hold?
- StrongBuy: 5
- Buy: 1
- Hold: 17
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the O price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 64.3 | 1.7% |
| Analysts Target Price | 64.3 | 1.7% |
| ValueRay Target Price | 69.4 | 9.7% |
O Fundamental Data Overview February 03, 2026
P/E Forward = 37.037
P/S = 10.0006
P/B = 1.403
P/EG = 5.7492
Revenue TTM = 5.60b USD
EBIT TTM = 1.86b USD
EBITDA TTM = 4.35b USD
Long Term Debt = 26.46b USD (from longTermDebt, last quarter)
Short Term Debt = 1.92b USD (from shortTermDebt, last quarter)
Debt = 28.90b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 28.48b USD (from netDebt column, last quarter)
Enterprise Value = 84.63b USD (56.15b + Debt 28.90b - CCE 417.2m)
Interest Coverage Ratio = 1.70 (Ebit TTM 1.86b / Interest Expense TTM 1.09b)
EV/FCF = 22.49x (Enterprise Value 84.63b / FCF TTM 3.76b)
FCF Yield = 4.45% (FCF TTM 3.76b / Enterprise Value 84.63b)
FCF Margin = 67.18% (FCF TTM 3.76b / Revenue TTM 5.60b)
Net Margin = 17.18% (Net Income TTM 962.1m / Revenue TTM 5.60b)
Gross Margin = 92.56% ((Revenue TTM 5.60b - Cost of Revenue TTM 417.0m) / Revenue TTM)
Gross Margin QoQ = 92.75% (prev 92.38%)
Tobins Q-Ratio = 1.19 (Enterprise Value 84.63b / Total Assets 71.28b)
Interest Expense / Debt = 0.99% (Interest Expense 286.7m / Debt 28.90b)
Taxrate = 6.98% (23.8m / 341.5m)
NOPAT = 1.73b (EBIT 1.86b * (1 - 6.98%))
Current Ratio = 1.55 (Total Current Assets 5.09b / Total Current Liabilities 3.29b)
Debt / Equity = 0.74 (Debt 28.90b / totalStockholderEquity, last quarter 39.05b)
Debt / EBITDA = 6.55 (Net Debt 28.48b / EBITDA 4.35b)
Debt / FCF = 7.57 (Net Debt 28.48b / FCF TTM 3.76b)
Total Stockholder Equity = 39.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.38% (Net Income 962.1m / Total Assets 71.28b)
RoE = 2.47% (Net Income TTM 962.1m / Total Stockholder Equity 39.02b)
RoCE = 2.83% (EBIT 1.86b / Capital Employed (Equity 39.02b + L.T.Debt 26.46b))
RoIC = 2.60% (NOPAT 1.73b / Invested Capital 66.51b)
WACC = 4.68% (E(56.15b)/V(85.05b) * Re(6.62%) + D(28.90b)/V(85.05b) * Rd(0.99%) * (1-Tc(0.07)))
Discount Rate = 6.62% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 12.21%
[DCF Debug] Terminal Value 88.02% ; FCFF base≈3.59b ; Y1≈4.24b ; Y5≈6.50b
Fair Price DCF = 176.1 (EV 190.12b - Net Debt 28.48b = Equity 161.64b / Shares 918.1m; r=5.90% [WACC]; 5y FCF grow 19.06% → 2.90% )
EPS Correlation: -63.45 | EPS CAGR: -48.83% | SUE: -4.0 | # QB: 0
Revenue Correlation: 97.89 | Revenue CAGR: 22.76% | SUE: 2.06 | # QB: 12
EPS next Quarter (2026-03-31): EPS=0.41 | Chg30d=-0.000 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.60 | Chg30d=+0.011 | Revisions Net=+1 | Growth EPS=+32.7% | Growth Revenue=+5.8%