Realty Income Corporation
Realty Income Corporation, known as 'The Monthly Dividend Company®', is a member of the S&P 500 Dividend Aristocrats® index and has declared 647 consecutive monthly dividends. With a portfolio of over 15,450 properties across various industries and regions, the company focuses on acquiring freestanding, single-unit properties leased to industry-leading operators under long-term net lease agreements.
Company Overview
Realty Income Corporation, known as 'The Monthly Dividend Company®,' operates with a focus on acquiring freestanding, single-unit properties leased to industry-leading operators under long-term net lease agreements. The company has declared 647 consecutive monthly dividends and has increased its dividend for the last 25 consecutive years. Realty Income is a member of the S&P 500 Dividend Aristocrats® index. Its portfolio includes over 15,450 properties located across all 50 U.S. states, the U.K., and six other countries in Europe.
Green Financing Framework
In 2021, Realty Income launched a Green Financing Framework aimed at raising capital for the acquisition and development of green-certified buildings. This initiative aligns with the company’s sustainability efforts, which also include promoting environmental responsibility at the properties they own and fostering a culture of environmental responsibility at their headquarters. This framework is a testament to Realty Income's commitment to integrating sustainability into its business operations.
Portfolio and Industries
Realty Income's extensive portfolio includes properties across 89 separate industries with a gross real estate book value of $56 billion. The top five industries in the portfolio consist of grocery stores, convenience stores, dollar stores, home improvement, and drug stores. The company's largest clients include major industry players like Dollar General, Walgreens, Dollar Tree, and 7-Eleven. The property types managed by Realty Income include retail, industrial, and gaming, contributing to a portfolio occupancy rate of 98.6%.
Sustainability Initiatives
Realty Income is dedicated to environmental sustainability, evident in several key metrics. The company’s energy consumption in 2022 was 1,284 MWh, and its total GHG emissions (Scope 1 & 2) were 351 MT CO2e. These efforts reflect the company’s initiative to integrate environmental responsibility across its operational framework, both at the properties they own and within their headquarters. Moreover, the Green Financing Framework launched in 2021 underscores Realty Income's commitment to sustainable development.
Geographical Presence
Realty Income boasts a diverse geographical presence, with properties in all 50 U.S. states, the United Kingdom, and six other countries in Europe. Key regions by portfolio annualized contractual rent include the United Kingdom, Texas, Florida, California, Illinois, Ohio, and Massachusetts. This widespread presence allows Realty Income to capture a broad market and reduce geographical risk, reinforcing its robust and stable business model.