Company Overview

Company Fast Facts

General Information

  • Founded in 1969 to provide investors with monthly dividends that increase over time
  • Dividends are supported by the revenue generated from our net-leased real estate assets
  • Publicly traded on the New York Stock Exchange since 1994 (ticker symbol “O”)
  • Member of the S&P 500 index
  • Headquartered in San Diego, California

Since our 1994 listing on the NYSE, we have increased:

  • Properties in our portfolio from 630 to 4,980 in 49 states and Puerto Rico
  • Real estate assets (at cost) from $451 million to $14.2 billion
  • Commercial tenants in our portfolio from 23 to 250
  • Total number of industries in our portfolio from 5 to 47
  • Annual revenue from $49 million to $1.057 billion (as of 12/31/2016)
  • Adjusted funds from operations (AFFO) from $39.2 million to $736.4 million (as of 12/31/2016)
  • Annualized cash dividends from $0.90 per share to $2.538 per share

To learn more Company Fast Facts, please see our printable fact sheet.

Historical Financial Performance (1994-2016)

(Dollars in millions except per share data)
For the Years Ended December 31, 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Total Revenue (1) $1,060 $980 $895 $760 $484 $422 $346 $329 $331 $296 $241 $198 $178 $150 $138 $121 $116 $105 $85 $68 $57 $52 $49
Net income available to common stockholders $288 $257 $228 $204 $115 $133 $107 $107 $108 $116 $99 $90 $90 $77 $69 $58 $45 $41 $41 $35 $32 $26 $15
Funds from operations ("FFO")(2) $735 $652 $563 $462 $269 $249 $194 $191 $186 $190 $156 $130 $121 $105 $95 $78 $67 $66 $63 $52 $48 $40 $39
Adjusted funds from operations ("AFFO") (2) $736 $647 $562 $463 $274 $253 $197 $193 $192 $193 $159 $131 $126 $107 $96 $79 $68 $66 $62 $52 $47 $40 $39
Dividends paid to common stockholders $611 $533 $479 $409 $236 $219 $183 $178 $170 $158 $130 $109 $97 $84 $78 $65 $58 $56 $52 $44 $43 $37 $39
At Year End






















Real estate at cost, before accumulated depreciation (3) $13,864 $12,297 $11,154 $9,899 $5,921 $4,972 $4,113 $3,439 $3,409 $3,239 $2,744 $2,096 $1,691 $1,533 $1,286 $1,178 $1,074 $1,017 $890 $700 $565 $515 $451
Number of properties 4,944 4,538 4,327 3,896 3,013 2,634 2,496 2,339 2,348 2,270 1,955 1,646 1,533 1,404 1,197 1,124 1,068 1,076 970 826 740 685 630
Gross leasable square feet (millions) 83 76 71 63 38 27 21 19 19 19 17 13 12 11 10 10 9 9 8 6 5 5 4
Properties acquired (4) 505 286 506 974 423 164 186 16 108 357 378 156 194 302 111 117 22 110 149 96 62 58 4
Cost of properties acquired (4) $1,859 $1,259 $1,402 $4,670 $1,165 $1,016 $714 $58 $190 $534 $770 $487 $215 $372 $139 $156 $99 $181 $193 $142 $56 $65 $3
Properties sold 77 38 46 75 44 26 28 25 29 10 13 23 43 35 35 35 21 3 5 10 7 3 5
Net proceeds from sale of properties $91 $66 $107 $134 $51 $24 $27 $20 $28 $7 $11 $23 $35 $23 $20 $40 $45 $9 $3 $4 $4 $1 $4
Number of commercial tenants(5) 248 240 234 205 150 136 122 118 119 115 103 101 93 85 79 78 72 72 65 40 24 22 23
Number of industries 47 47 47 47 44 38 32 30 30 30 29 29 30 28 26 25 24 24 22 14 8 7 5
Number of states 49 49 49 49 49 49 49 49 49 49 48 48 48 48 48 48 46 45 45 43 42 42 41
Portfolio occupancy rate 98.3% 98.4% 98.4% 98.2% 97.2% 96.7% 96.6% 96.8% 97.0% 97.9% 98.7% 98.5% 97.9% 98.1% 97.7% 98.2% 97.7% 98.4% 99.5% 99.2% 99.1% 99.3% 99.4%
Remaining weighted average lease term (years) 9.8 10.0 10.2 10.8 11.0 11.3 11.4 11.2 11.9 13.0 12.9 12.4 12.0 11.8 10.9 10.4 9.8 10.7 10.2 9.8 9.5 9.2 9.5
Per Common Share Data (6)






















Net income (diluted) $1.13 $1.09 $1.04 $1.06 $0.86 $1.05 $1.01 $1.03 $1.06 $1.16 $1.11 $1.12 $1.15 $1.08 $1.01 $0.99 $0.84 $0.76 $0.78 $0.74 $0.70 $0.63 $0.39
Funds from operations ("FFO")(2) $2.88 $2.77 $2.58 $2.41 $2.02 $1.98 $1.83 $1.84 $1.83 $1.89 $1.73 $1.62 $1.53 $1.47 $1.40 $1.33 $1.26 $1.23 $1.18 $1.11 $1.04 $1.00 $0.98
Adjusted funds from operations ("AFFO")(2) $2.88 $2.74 $2.57 $2.41 $2.06 $2.01 $1.86 $1.86 $1.90 $1.92 $1.77 $1.63 $1.61 $1.50 $1.41 $1.34 $1.27 $1.24 $1.17 $1.10 $1.03 $0.98 $0.98
Dividends paid $2.392 $2.271 $2.192 $2.147 $1.772 $1.737 $1.722 $1.707 $1.662 $1.560 $1.437 $1.346 $1.241 $1.181 $1.151 $1.121 $1.091 $1.043 $0.983 $0.946 $0.931 $0.913 $0.300
Annualized dividend amount(7) $2.43 $2.29 $2.20 $2.19 $1.82 $1.75 $1.73 $1.72 $1.70 $1.64 $1.52 $1.40 $1.32 $1.20 $1.17 $1.14 $1.11 $1.08 $1.02 $0.96 $0.95 $0.93 $0.90
Common shares outstanding (millions) 260 250 225 207 133 133 118 104 104 101 101 84 79 76 70 66 53 54 54 51 46 46 39
Investment Results






















Closing price on December 31, $57.48 $51.63 $47.71 $37.33 $40.21 $34.96 $34.20 $25.91 $23.15 $27.02 $27.70 $21.62 $25.29 $20.00 $17.50 $14.70 $12.44 $10.31 $12.44 $12.72 $11.94 $11.25 $8.56
Dividend yield(8)(9) 4.6% 4.4% 5.9% 5.3% 5.1% 5.1% 6.6% 7.4% 6.1% 5.6% 6.7% 5.3% 6.2% 6.7% 7.8% 9.0% 10.6% 8.4% 7.7% 7.9% 8.3% 10.7% 9.9%
Total return to stockholders(10) 16.0% 13.0% 33.7% (1.8%) 20.1% 7.3% 38.6% 19.3% (8.2%) 3.2% 34.8% (9.2%) 32.7% 21.0% 26.9% 27.2% 31.2% (8.7%) 5.5% 14.5% 15.4% 42.0% 28.5%

Footnotes

Download year list

Vision and Values

Realty Income was founded by William and Joan Clark in 1969 to generate monthly income for investors. From the first Taco Bell property acquisition in 1969 to today, we have continued to operate the company according to two key objectives:

1. Grow and maintain a reliable real estate portfolio to pay dividends to shareholders

  • Our real estate investment strategy is focused on owning properties net leased to tenants with a service, non-discretionary, and/or low price point component to their business
  • We target properties located in significant markets or strategic locations to ensure the viability of the real estate location for the tenant’s business
  • Our acquisitions department uncovers opportunities consistent with this strategy
  • Our research department uses its underwriting expertise to assess the tenants’ long-term business prospects
  • We seek to maintain tenant, industry and geographic diversification through our acquisitions, portfolio management and asset management strategies

2. Secure access to low-cost capital to support real estate acquisitions that increase earnings

  • We have maintained access to the public equity markets since our 1994 listing on the New York Stock Exchange
  • We have achieved and maintained investment grade credit ratings since 1996
  • Our relationships with investment and commercial banks provide continued access to capital to fund our growth
  • Our conservative balance sheet preserves a low cost of capital and offers financial stability throughout various economic cycles

LEGAL DISCLAIMER:
Past performance is not a reliable indicator of future performance. The price of Realty Income shares may go down as well as up and you may not get back all or any of your original investment.