202610월
O Oct 2026 · Reduce
We assign a Reduce rating to Realty Income Corporation with a fair value estimate of $44.94 per share, implying 16.98% downside from the October 2, 2026 share price of $54.13 (a 20.45% price premium over fair value). Although its net-lease portfolio generates resilient operating cash flow of $3,994,754,000, persistent benchmark yields (10-year Treasury at 5.24%) and elevated total debt of $32,853,271,000 compress acquisition spreads over its 7.8345% WACC, limiting accretive per-share growth.Latest published research · analyzed 2026-10-03 · current · sources aging