Overview
- Realty Income remains the largest net-lease REIT with a roughly $60 billion market cap and more than 15,500 properties across the U.S. and Europe.
- Its net-lease and sale-leaseback approach shifts most property costs to tenants, securing long leases and steady rent escalations.
- The company offers about a 5% dividend yield backed by 31 consecutive annual increases and monthly payments, with 133 raises since its IPO.
- Occupancy reached 98.9% in 2025, AFFO per share was $4.28, and 2026 guidance calls for $4.38 to $4.42, covering the $3.24 forward dividend.
- The shares are up about 15% year to date as the REIT broadens into industrial, gaming, and data center assets and expands into Mexico.