Realty Income Corporation

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Realty Income Corporation
Public company
Traded asNYSEO
S&P 500 Index component
IndustryReal estate investment trust
Founded1969; 50 years ago (1969)
FounderWilliam E. Clark, Jr.
Evelyn J. Clark
HeadquartersSan Diego, California
Key people
Michael D. McKee, Chairman
Sumit Roy, CEO
Paul M. Meurer, CFO
ProductsFree-standing, single-tenant commercial properties
RevenueIncrease $1.215 billion (2017)
Increase $0.319 billion (2017)
Total assetsIncrease $14.058 billion (2017)
Total equityIncrease $7.390 billion (2017)
Number of employees
152 (2017)
Websitewww.realtyincome.com
Footnotes / references
[1]

Realty Income Corporation is a real estate investment trust that invests in free-standing, single-tenant commercial properties in the United States and Puerto Rico that are subject to NNN Leases. The company is organized in Maryland with its headquarters in San Diego, California.

The company is one of a few real estate investment trusts that pays dividends monthly, rather than quarterly.

Investments[edit]

As of December 31, 2017, the company owned 5,172 properties totaling 89.6 million rentable square feet, with an average property size of 12,060 square feet per retail property and 224,340 square feet per industrial property.[1]

The company's largest tenants are as follows:[1]

Rank Tenant % of Total Revenue
1 Walgreens 6.5%
2 FedEx 5.1%
3 LA Fitness 4.0%
4 Dollar General 3.9%
5 Dollar Tree 3.6%
6 AMC Theatres 3.6%
7 Walmart 3.0%
8 Circle K 2.5%
9 BJ's Wholesale Club 2.2%
10 Treasury Wine Estates 2.1%

History[edit]

Realty Income Corporation was founded in 1969 by William E. Clark and Evelyn J. Clark.[2] Its first acquisition was a Taco Bell restaurant in early 1970.[2]

The company used cash to purchase land needed for stores that required real estate to run, and then leased the property to the stores long term.[3]

In 1994, the company became a public company via an initial public offering.[1]

In 1997, William E. Clark, Jr., retired as CEO and was succeeded by Thomas A. Lewis.[4] In 2009, Clark retired as chairman.[5]

In 2013, the company acquired American Realty Capital Trust, founded by Nicholas Schorsch, in a $2.95 billion transaction.[6][7]

In 2015, the company was added to the S&P 500 Index[8] and the S&P High Yield Dividend Aristocrats index.[9]

In 2018 Sumit Roy became the company's CEO.[10]

References[edit]

  1. ^ a b c d "Realty Income Corporation 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b Frankel, Matthew (June 3, 2015). "Realty Income Corporation: How a Taco Bell Evolved Into a $10 Billion REIT". The Motley Fool.
  3. ^ WOLFF, ERIC (December 8, 2010). "REAL ESTATE: Local company ready to reap the bubble's remains". The San Diego Union-Tribune.
  4. ^ "Realty Income Names John P. Case to Succeed Tom A. Lewis As Chief Executive Officer" (Press release). PR Newswire. September 3, 2013.
  5. ^ "William E. Clark to Retire as Realty Income Chairman" (Press release). Business Wire. September 3, 2013.
  6. ^ "Realty Income To Acquire American Realty Capital Trust In $2.95 Billion Transaction" (Press release). PR Newswire. September 6, 2012.
  7. ^ "Realty Income Closes American Realty Capital Trust Acquisition" (Press release). Business Wire. January 22, 2013.
  8. ^ "Realty Income Set to Join S&P 500; Windstream, Douglas Emmett to Join the S&P MidCap 400; Gentherm, Echo Global Logistics to Join the S&P SmallCap 600" (Press release). PR Newswire. March 27, 2015.
  9. ^ https://www.reit.com/news/reit-magazine/march-april-2016/realty-income-reaping-triple-net-lease-rewards
  10. ^ https://www.journalnow.com/business/the-briefcase-walmart-campus-off-kester-mill-road-sells-for/article_e5e7b8a5-6d3b-5da2-ad85-c95c87660c2b.html

External links[edit]