OUR STORY BEGINS
William (Bill) and Joan Clark founded Realty Income after acquiring a Northridge, California, Taco Bell property directly from Taco Bell founder Glen Bell in 1969. Their vision was to create a platform that provided shareholders monthly dividends that increase over time. Bill and Joan took a unique approach, purchasing commercial real estate and leasing each property to well-qualified companies with a strong financial profile in exchange for capital. This provided the operator access to growth capital while generating a steady stream of monthly revenue for Realty Income, supporting increasing monthly dividends.
GOING PUBLIC
In 1994, Realty Income began trading on the New York Stock Exchange under the ticker symbol “O.” This landmark event set the stage for even more substantial growth, which included portfolio expansion to *#number-of-properties-rounded#*(1) properties and annual revenue growth from $49 million to *#annual-revenue-latest-full-year#* (2).
(1) Including properties acquired in the Spirit merger in January 2024. (2) Excludes tenant reimbursement.
A TRACK RECORD OF SUCCESS
Realty Income has been paying dependable monthly dividends throughout its *#operating-history-years#*-year operating history. During this time, the company has reached many significant milestones:
Expanded into three new European countries and completed a record year of investment volume with approximately $9.5 billion closed, including the first investments in indoor vertical farming and data center verticals.
Increased AFFO per share by 9.2%, achieved property-level occupancy of 99.0% (the highest in over 20 years), & purchased the Wynn Encore Boston Harbor Resort & Casino for $1.7 billion, representing the first investment in the gaming industry.
Closed $17B VEREIT Merger, completed first acquisition in Continental Europe, and issued debut green bond.
Added to the S&P 500 Dividend Aristocrats® Index.
50th anniversary of business, 25th anniversary of NYSE listing and first international acquisition into the UK.
Credit rating upgraded to “A-” by Standard & Poor’s.
Credit rating upgraded to “A3” by Moody’s.
Surpassed $1 billion in annual rental revenue.
Added to S&P 500® and S&P High Yield Dividend Aristocrats® Index.
Surpassed $3 billion in dividends paid.
Closed $3.2 billion acquisition of American Realty Capital Trust.
Completed $1 billion in acquisitions for the first time.
Added to the Standard & Poor’s MidCap Index.
Received investment-grade credit ratings from Moody’s, S&P and Fitch.
William (Bill) & Joan Clark found Realty Income with the acquisition of a Taco Bell property in Northridge, CA
AS WE CONTINUE TO EVOLVE, WE GROW
Our ability to embrace changing market conditions allows for ambitious but achievable goals, including pioneering several areas within the industry. We are committed to becoming an ESG leader by setting the industry standard for environmental stewardship in partnership with our clients. That same commitment extends to our own headquarters, where we have invested in renewable energy and work to reduce water consumption and waste production. For more, read our Sustainability Report.
AMBITION MATCHED BY DEDICATION
As we strive toward being a top-five REIT, we continue to generate consistent attractive total shareholder returns while exploring adjacent asset types and new geographies. We are also leveraging machine learning and predictive analytics to inform key investment decisions. This innovative, technology-driven approach allows us to seize exciting new opportunities while maintaining a conservative business strategy.
As we grow, we continue our commitment as the Monthly Dividend Company® — providing dependable monthly dividends that increase over time. By staying true to our core values and embracing a spirit of innovation, we aim to continue to drive future profitable growth.