Realty Income Corporation (O) is structured as a real estate investment trust (REIT). Valued at 47.99 billion by market cap, the company acquires and manages freestanding commercial properties that generate rental income through long-term net lease agreements. Its portfolio consists of about 15,450 commercial properties leased to over 1,500 clients operating in more than 89 different industries across all 50 states in the U.S., U.K., and six other European nations.
Realty Income has underperformed the broader market considerably over the past year. The REIT has declined 8.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 29.3%. In 2024 alone, the REIT has lost 4%, compared to SPX's 11.4% gains on a YTD basis.
