O
REALTY INCOME CORPEvidence as of 2026-09-03Overview · REALTY INCOME CORP
Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 12,200 real estate properties primarily owned under long-term net…
Management team
- Mr. Neale W. Redington CPA · Senior VP & Chief Accounting OfficerFind on LinkedIn
- Mr. Neil M. Abraham · President of Realty Income International, Executive VP & Chief Strategy OfficerFind on LinkedIn
- Ms. Michelle Bushore · Executive VP, Chief Legal Officer, General Counsel & SecretaryFind on LinkedIn
- Mr. Mark E. Hagan · Executive VP & Chief Investment OfficerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (+0.2 of a possible +2) with high confidence. Reported quarterly revenues climbed from 1,380,505,000 in fiscal Q1 2025 (fiscal quarter ended 2025-05-02) to 1,410,378,000 in fiscal Q2 2025 (fiscal quarter ended 2025-08-01), 1,470,552,000 in fiscal Q3 2025 (fiscal quarter ended 2025-10-30), 1,548,727,000 in fiscal Q1 2026 (fiscal quarter ended 2026-04-30) and then was 1,547,711,000 in fiscal Q2 2026 (fiscal quarter ended 2026-07-30).
Diluted EPS over the same sequence reads 0.28 (Q1 2025), 0.22 (Q2 2025), 0.35 (Q3 2025), 0.33 (Q1 2026) and 0.37 (Q2 2026). Reported quarterly net income dollars were 249,815,000 (Q1 2025), 196,919,000 (Q2 2025) and 315,771,000 (Q3 2025), implying net income margins of ~ 18.1% (Q1 2025), ~ 14.0% (Q2 2025) and ~ 21.5% (Q3 2025) versus the matching-quarter revenues. Liabilities rose from 30,515,509,000 as of 2025-03-31 to 34,507,398,000 as of 2026-06-30, while common shares outstanding increased from 891,516,161 (as of 2025-02-20) to 946,218,033 (as of 2026-07-30). Market signals show a trailing twelve‑month dividend yield of +5.27% and a price of 61.5 (market cap 58,192,409,030; EV 62,314,761,030), with price 1.3% above the 200‑day SMA and 2.5% below the 50‑day SMA as of 2026-09-02.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Reported quarterly revenues rose from $1,380,505,000 in fiscal Q1 2025 (2025-01-01 to 2025-03-31) to $1,410,378,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30), $1,470,552,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30), $1,548,727,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31) and then was $1,547,711,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0000726728-25-000096Diluted earnings per share (EPS) reported were $0.28 in fiscal Q1 2025, $0.22 in fiscal Q2 2025, $0.35 in fiscal Q3 2025, $0.33 in fiscal Q1 2026 and $0.37 in fiscal Q2 2026.
XBRL companyfacts · 0000726728-25-000096Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
On August 20, 2026, Realty Income entered into a Second Amendment to an Amended and Restated Term Loan Agreement that provides for a $500 million term loan due August 20, 2027.
8-K filed 2026-08-25On August 20, 2026, Realty Income entered into a First Amendment to an Amended and Restated multi-currency Term Loan Agreement that allows the company to incur up to an aggregate of $1.35 billion in total borrowings that mature on January 18, 2028.
8-K filed 2026-08-25Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Trailing twelve‑month dividend yield is +5.27%, which ranks in the 95th percentile of the 547‑security research universe as of 2026-09-02.
Moneyta signal set · 2026-09-02Price is 1.3% above the 200‑day simple moving average (price_vs_sma200 +1.3%) and 2.5% below the 50‑day SMA (price_vs_sma50 -2.5%), and the golden_cross indicator is true as of 2026-09-02.
Moneyta signal set · 2026-09-02Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, the security O was held in the ETF with symbol IVV at a weight of 0.09% of that fund.
ETF constituents · market dataMembership in the ETF IVV at 0.09% of fund provides factual exposure context showing that this security is a constituent of at least one major ETF as of 2026-09-02T13:45:47.228469+00:00.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple recent headlines emphasize Realty Income's long monthly-dividend streak and its continuation (the coverage cites the 674th consecutive monthly dividend).
News · finance.yahoo.com · 2026-09-02Coverage highlights a recent debt transaction described as an 'upsized convertible notes offering' alongside the dividend announcement.
News · kalkinemedia.com · 2026-09-02Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The observation dataset uses a price of 61.5 as of 2026-09-02.
Valuation inputs · SEC XBRL + stored EOD closeMarket capitalization is reported as 58,192,409,030 and enterprise value is reported as 62,314,761,030.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set jointly supports a favorable read: reported quarterly revenues show a clear upward trajectory across the sample (fundamentals-0) while diluted EPS also trended higher in the most recent quarters (fundamentals-1), indicating improving per‑share earnings alongside top‑line growth. Market signals reinforce income characteristics — a high trailing twelve‑month dividend yield in the 95th percentile (market-0) and relatively low recent volatility (market-3) — and multiple news items highlight the firm’s long monthly‑dividend streak (news-0), which contextualizes the yield data. The filings (filings-0, filings-1) show access to committed term‑loan capacity, which strengthens the evidentiary case that the company has financing flexibility to support operations or capital allocation choices. Evidence strength: revenue and EPS items are primary financial disclosures (strong), dividend yield and volatility are timely market signals (moderate‑strong), and the filing summaries are direct regulatory filings (strong).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.33
30 surviving claims rest on 14 distinct sources; the heaviest analyst carries 20% of them, and 98% of what the desk raised survived the debate.
The surviving set is internally consistent and durable through debate (98% survival), which supports treating these observations as reliable summaries of the disclosed records. However, a modest number of distinct sources (14) for 30 claims and a single analyst carrying 20% of the claims means the read is somewhat sensitive to errors or omissions in a few primary documents or one analyst's interpretation — useful for situational awareness but not a substitute for independent corroboration from other filings or datasets.
Peer context · computed, not argued
12-1 momentum ranks 4th of 4 in REIT—Retail (as of 2026-09-02).
90-day volatility ranks 2nd of 4 in REIT—Retail (as of 2026-09-02).
dividend yield ranks 1st of 4 in REIT—Retail (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
15 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.0 to the score
3 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.4 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.5 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on O Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.