---
title: Realty Income (O) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/o
ticker: O
as_of: 2026-10-17
sector: Real Estate
industry: REIT - Retail
---
# Realty Income (O)

Realty Income (O) closed at $56.08 on Oct 16, 2026, undervalued by 13% vs its model value of $64.75 (from its own five-year median price to Cash FFO).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $56.08 (Oct 16, 2026) |
| Model value (from its own five-year median price to Cash FFO) | $64.75 |
| Price vs model | undervalued by 13% vs model |
| Range of that model | $61.88 – $73.44 |
| Market value | $53.1B |
| P/E (fiscal 2025) | 47.9 |
| Net margin (fiscal 2025) | 18.4% |
| Free cash flow (fiscal 2025) | $3.9B |
| Dividend yield (trailing twelve months) | 5.79% |
| Beta | 0.70 |
| Cost of capital (WACC) | 7.19% |
| Business classification | Dividend Payer (Moderate growth (~19% recent), Moderate margins (18% net margin), Strong dividend yield, Highly cyclical earnings, Strong FCF yield (7.3%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest dividend yield | #14 | 5.79% | https://sweetvaluelab.com/lists/highest-dividend-yield |
| Near 52-week lows | #28 | +4.8% | https://sweetvaluelab.com/lists/near-52-week-lows |
| Dividend growth streaks | #42 | 30 years | https://sweetvaluelab.com/lists/dividend-growth-streaks |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 5.79% |
| Dividends per share, last 12 months | $3.25 |
| Dividends / FFO (fiscal 2025) | 81.5% |
| Raised | 30 years in a row |
| Growth over 5 years | 3.5% a year |
| Latest payment | $0.2715, ex-date Sep 30, 2026, paid Oct 15, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 30, 2021 | $2.73 |
| To Sep 30, 2022 | $2.95 |
| To Sep 29, 2023 | $3.04 |
| To Oct 1, 2024 | $3.11 |
| To Oct 1, 2025 | $3.21 |
| Trailing twelve months (to Sep 30, 2026) | $3.25 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/Cash FFO · own history | primary | $64.75 | $61.88 | $73.44 |
| P/E · peers | cross check | $26.80 | $23.63 | $38.50 |
| P/E · own history | cross check | $72.20 | $59.15 | $82.29 |
| PEG | sanity check | $26.25 | $26.25 | $26.25 |
| EV/EBITDA · peers | cross check | $58.07 | $47.81 | $62.62 |
| EV/Revenue · peers | cross check | $21.43 | $16.35 | $39.14 |
| Dividend discount | cross check | $65.87 | $45.08 | $109.33 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($209,021.9); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 10, 2026 | McLaughlin Gregory | Director | Open-market sell | 3,475 | $209,021.9 |
| Jun 27, 2026 | Redington Neale | See Remarks | Tax withholding | 240 | $15,148.8 |
| May 21, 2026 | McLaughlin Gregory | Director | Grant / award | 3,214 | $0 |
| May 21, 2026 | MCKEE MICHAEL D | Director | Grant / award | 3,214 | $0 |
| May 21, 2026 | LOPEZ GERARDO I | Director | Grant / award | 3,214 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Aug 25, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/726728/000110465926100789/tm2623824d1_8k.htm |
| Aug 14, 2026 | 8-K | 2.03 Creation of a Direct Financial Obligation; 3.02 Unregistered Sale of Equity; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/726728/000110465926097260/tm2622133d3_8k.htm |
| Aug 12, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/726728/000110465926094314/tm2622133d2_8k.htm |
| Aug 11, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/726728/000110465926094098/tm2622133d1_8k.htm |
| Aug 6, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/726728/000072672826000048/o-20260630.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Christopher Davis | 2026-06-30 | 92,720 | $5.7M |

1 tracked managers in all.

## About

Known as "The Monthly Dividend Company," Realty Income is an S&P 500 corporation committed to delivering reliable monthly income to its shareholders. Operating as a Real Estate Investment Trust (REIT), its monthly payouts are generated from the consistent cash flow of over 6,500 commercial properties, which are leased to various businesses under long-term contracts. With a remarkable 52-year operational history, the firm (NYSE: O) has announced 608 uninterrupted monthly dividends for its common stock and has increased its dividend payout 109 times since going public in 1994. It also holds a distinguished position within the S&P 500 Dividend Aristocrats index. For additional details, please visit the company's official website at www.realtyincome.com.

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Source: https://sweetvaluelab.com/stocks/o (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.