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According to Kristen Gerencher in a January 2000 news report for CBS MarketWatch, "single-letter symbols have long been the A to Z of marquee-value branding among companies that want to create an image of exclusivity."

When Realty Income became a public company in 1994 it joined a distinguished group of 24 other U.S. companies who hold single-letter symbols. CEO Tom A. Lewis, the Vice Chairman and Vice President of Capital Markets at the time the company went public, had suggested that Realty Income secure a single-letter ticker symbol for its listing on the New York Stock Exchange.

The distinction of the single-letter symbol had impressed Mr. Lewis in his days as a financial advisor for Sutro & Co., a New York Stock Exchange Securities firm. He recalls discussing the merits of an investment in U.S. Steel with a co-worker and wanted to learn more about the company. When he asked what the ticker symbol was he was surprised to learn that it was "X." "Just X?" queried Mr. Lewis of his co-worker.

Not only was the symbol impossible to forget, but it imparted an air of exclusivity to U.S. Steel since, at the time, it was one of only a handful of companies to have a single-letter ticker symbol. Some people believe that part of the allure of the single-letter ticker symbols is that they are only available on the New York Stock Exchange, known for a certain cachet, and a trading floor that requires its members to have three letters or less.

U. S. Steel was awarded ticker symbol "X" by The New York Stock Exchange around 1921. Woolworth joined the ranks of the lone letters when they obtained "Z" in 1925. Sears took "S" in 1928 and AT&T took "T" for telephone in 1930. Others include: A for Agilent, B for Barnes Group, C for Citigroup, D for Dominion Resources, E for ENI S.p.A., F for Ford, G for Gillette, H for Harcourt General, J for Jackpot Enterprises, K for Kellogg, L for Liberty Financial, N for Inco, P for Phillips Petroleum, Q for Qwest, R for Ryder System, U for U.S. Airways, W for Westvaco, Y for Allegheny Corp. and Z for Venator Group...and of course "O" for Realty Income.
 

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