Realty Income (O)
Real Estate · NYSE · US
Fundamentals
Valuation and ratings
Realty Income trades at $65.75, which is 34% above the $43.13 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 68 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 51.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Realty Income
Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. They serve their clients as a full-service real estate capital provider. As of March 31, 2026, They have a portfolio of over 15,500 properties in all 50 states of the United States (U.S.), the United Kingdom (U.K.), and eight other countries in Europe. They are known as (The Monthly Dividend Company) and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since their founding, they have declared 673 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats index for having increased dividend for over 31 consecutive years. The firm was founded and incorporated in 1969 in Maryland and is based in San Diego, California.
O passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
11 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Parnassus Investments, PARNASSUS INVESTMENTS, LLC$865.23M · 2.5% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$113.20M · 0.1% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$32.17M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$20.02M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$19.95M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Realty Income (O) undervalued?
Against our discounted cash flow estimate of $43.13, O at $65.75 is 34% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own O?
11 of the institutions we track reported a position in O in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is O's P/E ratio?
O trades at 51.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for O, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.