About the Company
Realty Income Corporation is an American real estate investment trust (REIT). It was organised in Maryland in 1969. The company’s headquarters are in San Diego, California, United States. In 1994, Realty Income went public through an initial public offering, and its shares began trading on the New York Stock Exchange (NYSE) under the ticker symbol of O. O shares are also included as a component on the S&P 500 stock market index.
The company offers free-standing, single-tenant commercial properties. Realty Income Corporation holds over 6,500 properties in 49 states across the US, such as Nebraska, Oklahoma, Arizona, Oregon, California, South Dakota, Pennsylvania, Michigan, Wyoming, Utah, Colorado, Washington, Florida, New Jersey and New York, among others. The company leases-out a majority of its properties to retail tenants whose businesses have a non-discretionary and/or a low point component. As a result, most of its properties in the US are occupied by some well-known retail businesses, such as Wal-Mart, AMC Theatres, FedEx, 7-Eleven, CVS Pharmacy, Home Depot, Walgreens, and Dollar General. O also offers properties for industrial, commercial and agricultural uses. It also has 4 properties in Puerto Rico and 31 in the United Kingdom.
Over the years, Realty Income acquired several companies and expanded its property portfolio. The company’s first acquisition took place in 1970 when it bought-off a Taco Bell restaurant. In 2013, it acquired American Realty Capital Trust in a transaction of $3.2 billion. Subsequently, in 2013, Forbes recognised Realty Income Corporation as one of America’s 100 Most Trustworthy Companies. In 2015, it was added to the S&P 500 index as well as S&P High Yield Dividend Aristocrats® index. Forbes included Realty Income Corporation in its rankings of America’s Largest Public Companies in 2018. O’s first venture outside the US took place in 2019 when it completed a sale-leaseback transaction for 12 properties of Sainsbury’s, one of the United Kingdom’s largest retail chains. In 2020, Realty Income joined the S&P 500 Dividend Aristocrats® index. As of 2021, O ranked 1261st on Forbes’ list of Global 2000 2020.;
Organisation | Realty Income Corporation |
Industry | REIT—Retail |
HeadQuarters | San Diego, CA |