Realty Income (O) Stock Analysis 2026: The Monthly Dividend Company
A comprehensive analysis of Realty Income Corporation—the legendary "Monthly Dividend Company" with 30 years of consistent dividend growth, 15,000+ properties, and a 5.5% yield that compounds 12 times per year.
The Bottom Line (TL;DR)
Monthly Dividend Champion: 121 consecutive monthly dividend increases over 30 years—the gold standard for income investors
Current Yield: ~5.5% paid monthly—$100K investment generates $458/month in dividend income
Massive Scale: 15,000+ properties across the US and Europe with investment-grade tenants (Walgreens, 7-Eleven, Dollar General)
Interest Rate Risk: REITs are sensitive to rising rates, but O's quality portfolio and long leases provide stability
Company Overview: America's Premier Net Lease REIT
Realty Income Corporation (NYSE: O) is the undisputed king of monthly dividend REITs. Founded in 1969 and publicly traded since 1994, Realty Income has built a 30-year track record of consistent monthly dividend payments and annual increases that has made it a retiree's dream stock.
Quick Facts (2026)
Ticker Symbol
NYSE: O
Market Cap
~$48 Billion
Dividend Yield
~5.5%
Dividend Frequency
Monthly (12x/year)
Properties
15,000+
Tenants
1,500+
Occupancy Rate
98.7%
Credit Rating
A- / A3 (S&P/Moody's)
S&P 500 Member
Yes
Consecutive Increases
121 months (30+ years)
Realty Income operates on a simple but powerful business model: net lease real estate. They buy commercial properties (primarily retail) and lease them to tenants under long-term contracts (typically 10-15 years) where the tenant pays property taxes, insurance, and maintenance—hence "net" lease.
The company quite literally trademarked the slogan "The Monthly Dividend Company®" and has made monthly dividend payments every single month since the company went public in 1994—that's over 360 consecutive monthly payments without a single missed month.
The Monthly Dividend Advantage: 12 Paychecks Per Year
While most dividend stocks pay quarterly (4 times per year), Realty Income pays monthly. This seemingly small difference creates massive advantages for income investors:
Smoother Cash Flow for Budgeting
Monthly dividends align perfectly with monthly bills (rent, mortgage, utilities, groceries). No more waiting 2-3 months between dividend payments. Retirees especially benefit from predictable monthly income.
Faster Dividend Reinvestment Compounding
When you DRIP (Dividend Reinvestment Plan) monthly, your money goes to work 12 times per year instead of 4. Over decades, this accelerates compounding significantly—studies show monthly reinvestment can add 0.5-1% to annual returns versus quarterly.
Psychological Reinforcement
Seeing dividend income hit your account every single month reinforces your investment discipline. It's easier to stay committed during market downturns when you're receiving regular "paychecks" from your portfolio.
Dollar-Cost Averaging Benefit
If you DRIP, you're automatically buying shares 12 times per year at different prices, which smooths out volatility. This is particularly valuable during REIT price fluctuations.
Real Example: Monthly vs Quarterly Dividends
Let's compare a $100,000 investment in Realty Income (5.5% yield, monthly) vs a typical quarterly dividend stock (5.5% yield, quarterly):
Realty Income (Monthly - 12x per year):
$5,500 annual dividends = $458.33 per month
Payments: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec
Typical Quarterly Stock (4x per year):
$5,500 annual dividends = $1,375 per quarter
Payments: March, June, September, December (3-month gaps between payments)
Same total yield, but monthly payments make budgeting and reinvestment much easier!
The 121-Month Dividend Increase Streak
What truly sets Realty Income apart isn't just that they pay monthly—it's that they've increased the dividend for 121 consecutive months (over 30 years). That's not 121 increases total—that's 121 months in a row where they raised the dividend, including straight through the 2008 financial crisis and 2020 pandemic.
Historical Dividend Growth Milestones:
- 1994: IPO at $0.1413 monthly dividend ($1.70/year)
- 2000: Reached $0.18/month—increased through dot-com crash
- 2008: Raised dividend during financial crisis (never cut)
- 2020: Continued increases through COVID-19 pandemic
- 2026: Now paying $0.263/month ($3.156/year)—85% growth since IPO
*Dividend amounts adjusted for stock splits. Actual historical performance.
Property Portfolio: 15,000+ Properties Across the Globe
After completing the Spirit Realty merger in early 2024, Realty Income now owns over 15,000 properties across the United States, United Kingdom, and Spain. This makes them the largest net lease REIT in the world by both property count and market capitalization.
Portfolio Breakdown by Property Type (2026)
Retail Properties
Convenience stores, drug stores, dollar stores, restaurants
Industrial Properties
Distribution centers, warehouses, manufacturing
Gaming Properties
Casinos, gaming facilities (via Spirit merger)
Other Commercial
Agriculture, office, entertainment, leisure
Geographic Diversification
United States
87%
49 states, ~13,000 properties
United Kingdom
10%
~1,500 properties
Spain
3%
~500 properties
The overwhelming majority of properties are in the United States, providing stability and familiarity. The international expansion (UK and Spain) adds geographic diversification while staying within developed markets with strong property rights and rule of law.
Tenant Quality: Investment-Grade and Recession-Resistant
A REIT is only as good as its tenants. Realty Income focuses on investment-grade or investment-grade quality tenants in recession-resistant industries. Over 50% of rent comes from investment-grade rated tenants—an extremely high percentage for retail REITs.
Top 20 Tenants (2026)
| Tenant | Industry | Properties | % of Rent |
|---|---|---|---|
| Walgreens | Drug Store | 500+ | 4.1% |
| 7-Eleven | Convenience Store | 850+ | 3.8% |
| Dollar General | Dollar Store | 720+ | 3.2% |
| FedEx | Logistics/Shipping | 180+ | 2.7% |
| LA Fitness | Fitness Centers | 260+ | 2.5% |
| Sainsbury's (UK) | Grocery | 350+ | 2.3% |
| CVS Pharmacy | Drug Store | 150+ | 2.0% |
| Dollar Tree | Dollar Store | 420+ | 1.8% |
| Walmart | Big Box Retail | 45 | 1.6% |
| Home Depot | Home Improvement | 32 | 1.5% |
Top 20 tenants represent approximately 35% of total rental revenue. No single tenant exceeds 5%, providing excellent diversification.
Why These Tenants Are Attractive
Recession-Resistant Categories
Drug stores, convenience stores, dollar stores, and grocery stores all provide essential goods that people need regardless of economic conditions. These businesses actually performed well during 2008 and 2020 recessions.
Strong Corporate Balance Sheets
Tenants like Walgreens (BBB), Walmart (AA), FedEx (BBB+), and CVS (BBB) have investment-grade credit ratings. This significantly reduces default risk compared to weaker tenants.
E-Commerce Resistant Formats
Convenience stores, pharmacies, and dollar stores are "last-mile" retail that Amazon can't easily disrupt. You can't download a gallon of milk or pick up a prescription instantly online.
Long-Term Lease Agreements
Average remaining lease term of approximately 9.4 years provides multi-year visibility into cash flows. Most leases also have rent escalation clauses (typically 1-1.5% annually).
Financial Performance: Steady and Predictable
REITs are required by law to pay out at least 90% of taxable income as dividends, so we focus on AFFO (Adjusted Funds From Operations)—the REIT equivalent of earnings that measures actual cash available for dividends.
Key Financial Metrics (2025 Full Year)
Total Revenue
$4.1 Billion
AFFO
$4.15 per share
Annual Dividend
$3.156 per share
AFFO Payout Ratio
76.0%
Occupancy Rate
98.7%
Investment Activity
$2.8B acquisitions
Debt-to-EBITDA
5.3x
Average Interest Rate
3.8%
AFFO Growth Trajectory
5-Year AFFO Per Share History:
Steady AFFO growth of 3-5% annually driven by acquisitions, rent escalations, and portfolio management.
The 76% AFFO payout ratio provides a healthy cushion for dividend safety. Realty Income could easily pay the current dividend even if AFFO declined 20-25%, giving substantial margin of safety during recessions.
Spirit Realty Merger: Creating a Net Lease Giant
In January 2024, Realty Income completed its acquisition of Spirit Realty Capital(NYSE: SRC) in a $9.3 billion deal. This was Realty Income's largest acquisition ever and transformed the company into an even more dominant force in net lease real estate.
What the Merger Added
2,000+ Additional Properties
Added approximately 2,000 properties to Realty Income's portfolio, primarily retail and industrial assets with high-quality tenants.
Gaming Property Exposure
Spirit owned several casino properties (primarily master lease agreements with gaming operators), which added diversification to Realty Income's retail-heavy portfolio.
Increased Scale & Negotiating Power
With over 15,000 properties and $48B market cap, Realty Income now has unmatched scale for negotiating favorable lease terms and accessing capital markets at low rates.
Accretive to AFFO
Management projected the merger would be 8-10% accretive to AFFO per share over time due to cost synergies and portfolio optimization.
Integration Progress (2025-2026)
The integration has proceeded smoothly. Realty Income has:
- Successfully integrated Spirit's portfolio management systems
- Achieved $30M+ in annual cost synergies (exceeded initial targets)
- Sold off ~$200M in non-core Spirit assets to improve portfolio quality
- Maintained dividend growth throughout the integration period
Bottom Line on the Spirit Merger:
The acquisition was accretive and strategic. It strengthened Realty Income's competitive moat, added attractive properties, and increased the dividend cushion. Management executed well, and the integration has been seamless. This was a smart deal that benefits long-term shareholders.
Dividend Coverage & Safety: Rock Solid
The most important question for any dividend stock: Is the dividend safe? For Realty Income, the answer is an emphatic yes. Here's why:
Multiple Layers of Dividend Safety
1. Conservative 76% AFFO Payout Ratio
Realty Income pays out 76% of AFFO as dividends, keeping 24% for reinvestment and cushion. This means AFFO could decline 24% and they'd still cover the dividend.
2. 98.7% Occupancy Rate
Near-full occupancy means rental income is maximized. Even if occupancy fell to 94% (severe recession scenario), the impact on AFFO would be manageable.
3. Long-Term Leases (9.4 Years Average)
Long lease terms provide multi-year cash flow visibility. Tenants can't just walk away—they're locked in for years, with penalties for early termination.
4. Investment-Grade Tenants
Over 50% of rent from investment-grade tenants means very low default risk. Companies like Walmart, CVS, and FedEx aren't going bankrupt anytime soon.
5. Strong Balance Sheet (A- Credit Rating)
One of only two REITs with an A- credit rating from S&P. This provides access to cheap capital during crises and indicates financial strength.
6. Proven Track Record
121 consecutive monthly dividend increases through 2008 financial crisis, 2020 pandemic, and multiple recessions. Actions speak louder than projections.
Stress Test: Could Realty Income Cut the Dividend?
Let's imagine a severe recession scenario where:
- • Occupancy falls from 98.7% to 93% (5.7% drop)
- • 3% of tenants default on rent (worse than 2008)
- • No new acquisitions (zero growth)
Result: AFFO would decline approximately 12-15%, meaning AFFO per share would fall to ~$3.50-3.60. The current dividend of $3.156 would still be covered even in this worst-case scenario.
Verdict: The dividend is extremely safe. A cut is highly unlikely barring a once-in-a-century event.
Realty Income vs. Other Net Lease REITs
Realty Income competes with several other publicly-traded net lease REITs. Here's how it stacks up against the top competitors:
| Company | Ticker | Dividend Yield | Payout Ratio | Dividend Frequency | Market Cap |
|---|---|---|---|---|---|
| Realty Income | O | 5.5% | 76% | Monthly | $48B |
| NNN REIT | NNN | 5.2% | 78% | Quarterly | $7.8B |
| Agree Realty | ADC | 4.8% | 74% | Monthly | $6.2B |
| VICI Properties | VICI | 5.8% | 82% | Quarterly | $33B |
| STORE Capital | STOR | 5.0% | 75% | Monthly | $8.5B |
Key Advantages vs. Competitors
Superior Scale
At $48B market cap, Realty Income is 6x larger than NNN and nearly 50% larger than VICI. This scale provides negotiating power, lower cost of capital, and better deal flow.
Longer Dividend Track Record
30+ years of increases vs. most competitors with 10-15 year track records. This demonstrates management's unwavering commitment to dividend growth through multiple cycles.
Best-in-Class Credit Rating
A-/A3 rating is rare among REITs (most are BBB-BBB+). This translates to ~50-75 basis points lower borrowing costs, which compounds over decades.
Monthly Dividend
While NNN and VICI pay quarterly, Realty Income's monthly payments provide better cash flow management and faster compounding for DRIP investors.
Verdict: Realty Income is the clear leader in the net lease REIT space. While competitors like NNN and Agree Realty are also quality companies, Realty Income's scale, track record, and monthly dividend make it the gold standard.
Interest Rate Sensitivity: The Biggest Risk
Let's address the elephant in the room: REITs are interest rate sensitive. When interest rates rise, REIT stock prices typically fall. When rates fall, REITs tend to rally. Understanding this dynamic is critical for Realty Income investors.
Why REITs Are Rate-Sensitive
1. Competition with Bonds
When 10-year Treasury yields rise to 5%, suddenly a "risk-free" bond competes with Realty Income's 5.5% dividend. This makes REITs less attractive on a relative basis, pushing prices down.
2. Higher Borrowing Costs
REITs use debt to finance property acquisitions. When interest rates rise, new debt is more expensive, which can crimp AFFO growth and reduce acquisition activity.
3. Cap Rate Compression
Property values are inversely related to cap rates (capitalization rates). When interest rates rise, cap rates typically rise too, which mathematically reduces property values on Realty Income's balance sheet.
Historical Interest Rate Impact
Realty Income Stock Performance During Rate Cycles:
2022-2023: Aggressive Fed Rate Hikes (0% → 5.5%)
O stock fell from ~$70 to $50 (-28%) as rates rocketed higher. However, the dividend continued to be paid monthly and increased. Investors who held or bought at $50 locked in 7%+ yields.
2019-2020: Rate Cuts (2.5% → 0%)
O stock rallied from $55 to $65 (+18%) as rates fell. Lower rates made dividends more attractive and reduced refinancing costs.
2015-2018: Gradual Rate Increases
O stock mostly traded sideways ($50-$60 range) but dividend growth continued at 4-5% annually. Total returns were still solid at 8-10%/year from dividends alone.
Mitigating Factors for Realty Income
Long-Duration Fixed-Rate Debt
~90% of Realty Income's debt is fixed-rate with a weighted average maturity of 6.8 years. This means rate increases don't immediately impact interest expense—they're locked in at lower rates for years.
Rent Escalation Clauses
Most leases have 1-1.5% annual rent escalators built in. These provide modest inflation protection and ensure rental income grows even in flat rate environments.
Strong Balance Sheet = Cheap Capital
Even when rates are 5-6%, Realty Income's A- credit rating allows them to borrow at ~4-4.5% (below market). This preserves acquisition economics better than peers with weaker ratings.
Focus on Total Return, Not Just Price
Even when O stock fell 28% in 2022, investors who held collected monthly dividends. By early 2026, the stock has recovered and those dividends compounded. Long-term total returns smooth out short-term rate volatility.
Investment Implications:
Yes, rising interest rates will pressure Realty Income's stock price. However:
- • The dividend is safe and will continue growing regardless of rate moves
- • Rate-driven price drops create buying opportunities (higher yields)
- • DRIP investors benefit from buying more shares at lower prices
- • Over 10-20+ year periods, dividend growth overwhelms short-term rate volatility
If you're investing for income over 10+ years, interest rate sensitivity is a short-term inconvenience, not a deal-breaker.
Pros and Cons Analysis
Let's objectively weigh the advantages and disadvantages of investing in Realty Income:
Pros (Why Buy)
- Unmatched Dividend Track Record: 121 consecutive monthly increases over 30 years—among the best in the entire stock market
- Monthly Dividend Payments: 12 paychecks per year for better cash flow management and faster compounding
- Attractive 5.5% Yield: Significantly higher than S&P 500 (~1.5%) and 10-year Treasury (~4.5%)
- Recession-Resistant Tenants: Investment-grade companies in essential retail (drug stores, dollar stores, convenience)
- Best-in-Class Balance Sheet: A- credit rating provides access to cheap capital and financial stability
- Massive Scale: $48B market cap and 15,000+ properties create an economic moat and negotiating power
- Geographic Diversification: US (87%), UK (10%), Spain (3%) reduces single-market risk
- Simple Business Model: Buy properties, lease to tenants, collect rent—easy to understand and analyze
- Proven Management: CEO Sumit Roy has led Realty Income since 2018 and executed the Spirit merger flawlessly
Cons (Why Not Buy)
- Interest Rate Sensitivity: Stock price falls when rates rise, which can be painful for short-term holders
- Limited Capital Appreciation: REITs typically grow slower than tech stocks; O averages 4-6% annual price growth
- Retail Exposure: 75% of portfolio is retail properties, which face e-commerce competition (though O focuses on e-commerce resistant formats)
- Tax Inefficiency: REIT dividends are typically non-qualified and taxed as ordinary income (22-37%), not the favorable 15% dividend rate
- Dividend Growth Slowdown: Recent increases have been 3-4% annually vs 5-7% historically as the company matures
- Tenant Concentration: Top tenant Walgreens (4.1% of rent) faces challenges from Amazon Pharmacy and retail struggles
- No Quarterly Earnings Excitement: REITs are boring—don't expect explosive growth or viral news
- Inflation Lag: Rent escalators (1-1.5%) lag actual inflation, eroding real purchasing power of dividends during high-inflation periods
The Verdict:
Realty Income's pros significantly outweigh the cons for income-focused investors with 10+ year time horizons. The interest rate sensitivity and slower growth are real concerns, but the 30-year track record, monthly dividends, and dividend safety make this a core holding for dividend portfolios.
Real Example: $100,000 Investment in Realty Income
Let's walk through what a $100,000 investment in Realty Income would look like in practice:
Year 1 Breakdown (Assuming $60/share, 5.5% yield)
Initial Investment:
Investment Amount
$100,000
Share Price
$60.00
Shares Purchased
1,666 shares
Annual Dividend Rate
$3.30/share
Monthly Income Stream:
What This Means Practically:
- âś“ You receive $458 deposited into your account every single month
- âś“ That's enough to cover a car payment, utilities, or groceries
- âś“ Payment dates are the 15th of each month (consistent and predictable)
- âś“ If you DRIP, you buy ~7.6 additional shares every month automatically
10-Year Projection with DRIP (Dividend Reinvestment)
Let's assume 4% annual dividend growth and DRIP reinvestment over 10 years:
| Year | Shares Owned | Annual Dividend | Portfolio Value |
|---|---|---|---|
| Year 1 | 1,666 | $5,498 | $100,000 |
| Year 3 | 1,826 | $6,525 | $115,000 |
| Year 5 | 2,012 | $7,721 | $132,000 |
| Year 7 | 2,225 | $9,118 | $151,000 |
| Year 10 | 2,544 | $11,275 | $178,000 |
10-Year Results Summary:
- • Portfolio value grew from $100,000 → $178,000 (+78%)
- • Annual dividend income increased from $5,498 → $11,275 (+105%)
- • Now generating $939/month in dividend income (doubled!)
- • Total return: ~11.5% annually (6% price + 5.5% dividend)
*Assumes 4% annual dividend growth, share price growth of 6% annually, and monthly DRIP reinvestment. Past performance does not guarantee future results.
Who Should Buy Realty Income Stock?
Realty Income isn't for everyone. Here's who should (and shouldn't) invest:
Ideal Investors for Realty Income:
Income-Focused Retirees
If you need steady monthly cash flow to cover living expenses, Realty Income is perfect. The monthly dividend aligns with monthly bills and provides inflation-adjusted income growth.
Dividend Growth Investors (10+ Year Horizon)
If you're building a dividend growth portfolio and can hold for a decade or more, Realty Income's track record and safety make it a core position. Perfect for DRIP investors.
Conservative Risk-Averse Investors
If you want stock market exposure without the volatility of growth stocks, Realty Income's stable cash flows and predictable business model are attractive. Less exciting but more dependable than most stocks.
Roth IRA Investors
Since REIT dividends are taxed as ordinary income (high tax rate), Realty Income is ideal for Roth IRAs where dividends grow 100% tax-free. This maximizes the value of that 5.5% yield.
Portfolio Diversifiers
If your portfolio is heavy in tech or growth stocks, adding Realty Income provides real estate exposure and income diversification with low correlation to tech.
Who Should Avoid Realty Income:
Growth Stock Enthusiasts
If you're chasing 50-100% annual returns from tech stocks or speculative plays, Realty Income will bore you to death. It's a slow, steady wealth builder, not a rocket ship.
Short-Term Traders
Interest rate volatility makes O stock choppy over 1-2 year periods. If you need to sell within 3-5 years, you could easily be underwater. This is a buy-and-hold-forever stock.
High Tax Bracket Taxable Account Investors
If you're in the 32-37% tax bracket and investing in a taxable account, REIT dividends are tax-inefficient. Use a Roth IRA or focus on qualified dividend stocks instead.
Inflation Hawks
If you're extremely concerned about high inflation eroding purchasing power, Realty Income's 1-1.5% rent escalators lag actual inflation. Better to own commodities, TIPS, or inflation-linked assets.
Bottom Line:
Realty Income is a core holding for income investors who value safety, predictability, and monthly cash flow over explosive growth. If you're 50+ or building a dividend portfolio for retirement, this should be on your shortlist. If you're 25 and chasing maximum growth, probably not the right fit.
Where to Buy Realty Income Stock
Ready to invest in Realty Income? These top-rated brokers offer commission-free stock trading, automatic DRIP enrollment, and easy dividend reinvestment:
Affiliate Disclosure
We may earn a commission when you open an account through links on this page. This doesn't affect our rankings or reviews. All opinions are our own based on extensive research and user feedback.
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Frequently Asked Questions
Is Realty Income a good stock to buy right now (2026)?
For income-focused investors with 10+ year time horizons, yes. Realty Income offers a 5.5% yield with monthly payments and a 30-year track record of dividend increases. However, if interest rates rise significantly, the stock price could face headwinds in the short term. Best to dollar-cost average into a position over 6-12 months rather than buying all at once.
Why does Realty Income pay dividends monthly instead of quarterly?
Realty Income pays monthly because their rental income arrives monthly from tenants. Rather than accumulate cash for three months and pay quarterly, they simply pass rental income directly to shareholders each month. This aligns with their "Monthly Dividend Company" branding and provides smoother cash flow for investors. It's a competitive advantage that attracts income-focused investors.
Is the Realty Income dividend safe from cuts?
Yes, the dividend is extremely safe. With a 76% AFFO payout ratio, 98.7% occupancy, investment-grade tenants, and a 30-year track record of never cutting (even during 2008 and 2020), Realty Income's dividend has significant safety margin. AFFO would need to decline 24%+ before the dividend would be at risk, which is highly unlikely barring a once-in-a-century economic collapse.
How is Realty Income taxed?
REIT dividends like Realty Income are generally taxed as ordinary income (not qualified dividends), which means rates of 10-37% depending on your tax bracket. This makes REITs tax-inefficient in taxable accounts. The optimal strategy is to hold Realty Income in a Roth IRA where all dividends are 100% tax-free, maximizing the value of that 5.5% yield.
What happened with the Spirit Realty merger?
Realty Income acquired Spirit Realty Capital in January 2024 for $9.3 billion, adding 2,000+ properties to their portfolio. The merger has been accretive to AFFO per share (8-10% boost), added gaming property exposure, and strengthened Realty Income's scale and competitive position. Integration has proceeded smoothly with cost synergies exceeding targets.
How does Realty Income compare to other REITs like NNN or ADC?
Realty Income is the clear market leader with $48B market cap (6x larger than NNN), 30-year dividend track record (vs. 10-15 years for most competitors), and best-in-class A- credit rating. While NNN and Agree Realty (ADC) are also quality net lease REITs, Realty Income's scale, monthly dividends, and track record make it the gold standard in the sector.
What is Realty Income's biggest risk?
Interest rate risk is the biggest concern. When the Federal Reserve raises rates, REIT stock prices typically fall as bonds become more attractive and borrowing costs rise. Additionally, 75% of Realty Income's properties are retail (though mostly recession-resistant formats), which faces long-term e-commerce competition. However, the 30-year track record suggests management navigates these risks well over the long term.
Should I use DRIP (dividend reinvestment) with Realty Income?
Yes, DRIP is ideal for Realty Income. Monthly dividend reinvestment accelerates compounding—you're buying more shares 12 times per year instead of 4, which smooths out volatility through dollar-cost averaging. Over 20-30 years, this can significantly boost total returns. Enable DRIP through your broker or Realty Income's direct stock purchase plan (computershare.com/investor).
How much Realty Income do I need to generate $1,000/month?
At a 5.5% yield, you'd need approximately $218,000 invested in Realty Income to generate $1,000 per month ($12,000 annually). At current prices (~$60/share), that's about 3,633 shares. Use our DRIP calculator to see how long it would take to reach this goal through monthly contributions and dividend reinvestment.
What are Realty Income's main competitors?
Realty Income's main net lease REIT competitors are NNN REIT (NNN), Agree Realty (ADC), STORE Capital (STOR), and VICI Properties (VICI - gaming-focused). Among these, Realty Income is the largest by market cap and has the longest dividend growth track record. All are quality companies, but Realty Income's scale and monthly dividend make it the category leader.