Morningstar

Morningstar, Inc.

Equity Bottom-Up

First-quarter results for Realty Income came in slightly ahead of our expectations due to the company executing more external growth at higher-than-anticipated cap rates in the quarter. While our bottom-line estimates for 2019 might come up, we don't anticipate making any material changes to our $59 fair value estimate for the no-moat rated company, given that we don't think that it can sustain economic profits from external growth over the long term. Occupancy dipped 30 basis points…

United States

Realty Income Corporation owns and manages a portfolio of commercial properties located across the United States. The Company focuses on acquiring single-tenant retail locations, leased to regional and national chains, and under long-term net lease agreements.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00