Realty Income Corp.

Realty Income Corp.

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Market Cap$58.29B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Realty Income Corp.Realty Income Corp.45.65.18%3%10.40.1

Earnings Call Q2 2026

August 5, 2026 - AI Summary

Strong operating momentum + higher AFFO outlook (forecast raised) - Q2 AFFO per share: grew 3.8% to $1.09. - Year-to-date AFFO per share: $2.22, up 5.2% (noted as an acceleration vs the same period in 2025). - Full-year 2026 AFFO guidance increased: midpoint raised by $0.02 to $4.44–$4.45 (≈~4% growth at the midpoint).
Investment growth remains robust; guidance increased (opportunity set across geographies/asset types) - Global Q2 investments: ~$2.6B total ($2.1B pro rata), at an initial weighted avg cash yield of 7.3%. - US dominated Q2: ~$1.7B pro rata at 7.4% weighted avg yield; industrial ~ $800M (≈75% of US real estate). - Industrial fundamentals improving: net absorption accelerated, vacancy down, and development activity improved. - Europe: closed ~$400M at ~7.0% yield; management says activity is improving and they remain constructive. - Full-year acquisition volume guidance increased: from $9.5B to $10B total (implies about $9B on Realty Income’s balance sheet per CEO’s response).
Key capital vehicles driving future growth (data centers + US Core Plus fund) - US Core Plus fund: fully deployed remaining cornerstone commitments; total gross asset value ~$3B. - Fund acquisitions in Q2 generated ~6% weighted avg cash yield (intentionally lower on initial yield). - Same-store revenue growth: 2.9% YTD; emphasis that management fee stream helps drive day-1 accretion to Realty Income shareholders. - Hyperscale data center JV (surprising/important upside option): - Announced $6B programmatic hyperscale data center JV with Cloud Capital; Realty Income expects to invest up to $1.4B for 45% equity. - Includes 3 Northern Virginia assets (<400 MW total); one stabilized asset closed last week; expects to acquire 2 development assets upon stabilization. - Management frames data centers as an early/multiyear buildout driven by AI/cloud/digitization, with demand exceeding supply in key markets. - Tenant diversity plan: the new JV uses varied tenants (not just the earlier concentration).

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$67.28

Target Price by Analysts

7.5% upsideRealty Income Target Price DetailsTarget Price
$66.15

Current Fair Value

5.7% upside

Undervalued by 5.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$58.29 Billion
Enterprise Value$60.50 Billion
Dividend Yield$3.24 (5.18%)
Earnings per Share$1.17
Beta0.73
Outstanding Shares932,307,000

Return

Return on Equity3.34%ROE
Return on Assets1.73%
Return on Invested Capital2.60%

Valuation & Multiples

P/E Ratio45.63P/E Ratio
PEG44.89PEG
Price to Sales10.43Price to Sales
Price to Book Ratio1.42Price to Book Ratio
Enterprise Value to Revenue9.99
Enterprise Value to EBIT30.92
Enterprise Value to Net Income45
Total Debt to Enterprise0.05
Debt to Equity0.07Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
August 5, 2026
EPS Estimate
$0.40
Average shareholder expectation
Revenue Estimate
$1.40 B
Average shareholder expectation

Next Earnings Call

Expected Date
November 2, 2026
EPS Estimate
$0.41
Average shareholder expectation
Revenue Estimate
$1.43 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio3.0098 237.65%
Total Calls81,300 98.56%
Total Puts244,700 93.17%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %29.55% 48.89%
Total Invested$16.57B 61.87%
Investors Holding889 597.00%

ESG Score

No data

About Realty Income Corp.

194 employees
CEO: Sumit Roy

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from ov...