Realty Income Corporation, often referred to as "The Monthly Dividend Company," is a real estate investment trust (REIT) that specializes in acquiring and managing single-tenant retail properties. The company was founded in 1969 by William E. Clark and Evelyn J. Clark in Escondido, California, USA.
Realty Income's primary business model revolves around owning and leasing a diverse portfolio of commercial real estate properties across the United States. The company focuses on acquiring freestanding retail properties that are leased to tenants under long-term, net lease agreements. These agreements typically require the tenant to cover property-related expenses, such as taxes, insurance, and maintenance.
The company's strategy is to generate a steady stream of rental income by providing its tenants with reliable and predictable cash flows. Realty Income's tenants represent a wide range of industries, including convenience stores, drugstores, dollar stores, and quick-service restaurants, among others. This diversification helps mitigate risk and provides stability to the company's cash flow.
Realty Income is listed on the New York Stock Exchange under the ticker symbol "O." The company has a history of consistent dividend payments, which has earned it the reputation of being a reliable income generator for investors. It is known for its monthly dividend payments, hence its nickname "The Monthly Dividend Company." This is due to their impressive track record of dividend increases. Since its listing on the stock exchange in 1994, the company has increased its dividend for over 600 consecutive quarters. This consistent dividend growth has made Realty Income an attractive investment option for income-oriented investors.