REALTY INCOME CORP(O)Stock Analysis
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Rank #153 of 2,879 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
O Stock Analysis & AI Quality Score
AI stock analysis and institutional research for REALTY INCOME CORP (O), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores O at 74.6/100 on a 32-signal composite quality model, placing it at rank #153 of 2,879 stocks — the top 10% of the AI-ranked universe. O scores in the top quartile across free cash flow (94.6), profitability (82.5), revenue scale (80.1). Based on the latest XBRL financial filings (Q1 2026), REALTY INCOME CORP reports quarterly revenue of $1.5B, net income of $320.9M, free cash flow of $874.5M. Top institutional holders of O by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. O trades on the NYSE exchange and files with the SEC under CIK 726728. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate O daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for REALTY INCOME CORP directly from SEC EDGAR. REALTY INCOME CORP's 13F Pro composite quality score has ranged between 8 and 77 since 2021, currently 74.6 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving O's Business? Latest 10-Q Breakdown
AI-extracted from REALTY INCOME CORP's 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Biggest Revenue Drivers
Total revenue: $1.549B+12.3% YoY
Growth from acquisitions of 468 properties during 2025–2026 and same-store rental revenue increases, offset by dispositions and properties available for lease.
Slight decrease from lower interest income on certain sale-leaseback transactions.
Higher solar electricity tax credits received during the quarter.
Largest Expense Items
Increase driven by acquisitions of properties in 2025 and 2026, partially offset by property dispositions.
Higher average borrowings in 2026 and increased amortization of mortgage and note premiums, discounts, and deferred financing costs.
Increase primarily due to higher employee costs as the company continues to invest in its people and platform.
Real estate impairments decreased $7.3M while credit loss provisions increased $19.9M due to initial expected credit losses on newly acquired loans.
Margins: Operating margins remain stable; property expenses (excluding reimbursements) were 1.3% of revenue versus 1.5% YoY. General and administrative expenses increased to 4.1% of revenue from 3.4% YoY, reflecting ongoing investment in the platform and workforce.
Watch Items from the Filing
- Portfolio occupancy 98.9% as of Q1 2026 (172 of 15,571 properties available for lease); management notes typical occupancy of 96–99%, with potential for increases due to economic cycles.
- Top 20 clients represent 35.3% of annualized base rent; Dollar General, 7-Eleven, and Walgreens collectively ~9.6%; concentration is acknowledged but diversified across industries.
- Weighted average lease term 8.7 years; approximately 32% of rent from investment-grade clients or affiliates; lease renewal activity shows 103.4% rent recapture on re-leased units.
- Net Debt/Annualized Pro Forma Adjusted EBITDA increased to 5.2x (from implied lower leverage historically); debt issuance acceleration in Q1 2026 ($1.6B convertible and term loan) to fund acquisitions and strategic initiatives.
- Noncontrolling interests surged from $685M (Dec 31, 2025) to $2.1B (Mar 31, 2026) due to U.S. Core Plus Fund capital raise and $1.0B Apollo JV transaction; reflects co-investment and capital-raising strategy.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$1.5B
Net Income
Q1 2026
$320.9M
Free Cash Flow
Q1 2026
$874.5M
ROIC
Q1 2026
0.9%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+9.1% YoYNet Income
+23.0% YoYEPS (Diluted)
+19.4% YoYTotal Assets
+5.8% YoYOp. Cash Flow
+11.8% YoY| Metric | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $5.75B +9.1% | $5.27B +57.6% | $3.34B +60.7% | $2.08B +26.3% | $1.65B +10.7% | $1.49B |
| Net Income | $1.06B +23.0% | $860.8M -1.0% | $869.4M +141.9% | $359.5M -9.1% | $395.5M -9.4% | $436.5M |
| EPS (Diluted) | $1.17 +19.4% | $0.98 -31.0% | $1.42 +63.2% | $0.87 -23.7% | $1.14 -17.4% | $1.38 |
| Total Assets | $72.80B +5.8% | $68.84B +38.6% | $49.67B +15.2% | $43.14B +108.0% | $20.74B +11.8% | $18.55B |
| Operating Cash Flow | $3.99B +11.8% | $3.57B +39.4% | $2.56B +93.9% | $1.32B +18.5% | $1.12B +4.4% | $1.07B |
AI Insight: O Financial Trends
Revenue growth accelerated to 11% year-over-year in Q1 2026, but operating cash flow remains volatile with wide quarterly swings.
• Revenue grew consistently from $1,339M in Q2 2024 to $1,549M in Q1 2026, representing 16% growth over eight quarters.
• Operating cash flow fluctuated significantly, ranging from $788M in Q1 2025 to $1,203M in Q4 2025.
• Net income volatility persisted with Q2 2025 declining to $197M from $250M in Q1 2025, then recovering to $316M in Q3 2025.
⚠ Operating cash flow dropped 27% from $1,203M in Q4 2025 to $875M in Q1 2026, continuing the pattern of quarterly volatility.
⚠ Net income data missing for Q1 2026 prevents assessment of latest profitability trends.
AI Insight: O Ratio Trends
ROIC strengthened to 3.5% in Q1 2026 from 2.9% in Q2 2024, while operating margin expanded 180bp to 22.4% despite volatile quarterly performance.
• Operating margin improved from 20.6% in Q2 2024 to 22.4% in Q1 2026 despite quarterly volatility.
• ROIC expanded from 2.9% in Q2 2024 to 3.5% in Q1 2026, reaching cycle highs.
• ROE recovered from 2.0% trough in Q2 2025 to 3.0% in Q4 2025.
⚠ Operating margin swung from 15.8% in Q2 2025 to 23.2% in Q3 2025, indicating potential earnings volatility.
⚠ ROE and ROA data incomplete for recent quarters, limiting visibility into return trends.
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Available Research
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Top Institutional Holders of O
BlackRock, Inc.
$6.6B107,909,657 shVANGUARD PORTFOLIO MANAGEMENT LLC
$5.0B81,234,234 shSTATE STREET CORP
$3.9B63,763,245 shVANGUARD CAPITAL MANAGEMENT LLC
$3.7B60,123,420 shGEODE CAPITAL MANAGEMENT, LLC
$1.9B30,297,093 shBANK OF AMERICA CORP /DE/
$1.1B17,332,135 shMORGAN STANLEY
$932.6M15,242,786 shPARNASSUS INVESTMENTS, LLC
$865.2M14,142,311 shDIMENSIONAL FUND ADVISORS LP
$796.5M13,018,219 shCHARLES SCHWAB INVESTMENT MANAGEMENT INC
$745.7M12,188,656 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $6.6B | 107,909,657 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $5.0B | 81,234,234 |
| STATE STREET CORP | $3.9B | 63,763,245 |
| VANGUARD CAPITAL MANAGEMENT LLC | $3.7B | 60,123,420 |
| GEODE CAPITAL MANAGEMENT, LLC | $1.9B | 30,297,093 |
| BANK OF AMERICA CORP /DE/ | $1.1B | 17,332,135 |
| MORGAN STANLEY | $932.6M | 15,242,786 |
| PARNASSUS INVESTMENTS, LLC | $865.2M | 14,142,311 |
| DIMENSIONAL FUND ADVISORS LP | $796.5M | 13,018,219 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $745.7M | 12,188,656 |
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Popular Research
Is O a good stock to buy?
13F Pro's AI-powered analysis of REALTY INCOME CORP (O) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for O are available on the O stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own O?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling O. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of REALTY INCOME CORP's investment landscape.