Overview
- Coverage reiterates Realty Income’s status as a $52 billion bellwether in the net‑lease REIT segment.
- A triple‑net lease shifts taxes, insurance, and maintenance to tenants, supporting predictable, inflation‑linked rent increases.
- Portfolio occupancy stands at 98.7% across roughly 15,500 properties, with grocery stores at 10.8% of rent and convenience stores at 9.7%.
- The stock’s income appeal is underscored by a streak of 112 consecutive quarterly dividend increases cited by the analysis.
- Earlier December reporting noted adjusted FFO guidance of $4.25–$4.27 for 2025, an estimated 76% payout ratio, and an implied dividend yield near 5.6%.