Realty Income’s Triple-Net Leases Provide Stability, but Growth Depends on Acquisitions
Realty Income's fourth-quarter results were generally in line, though a disposition at a high cap rate caused a slight miss to the bottom line. There was nothing in the quarter that leads us to believe that we will materially change our $60 fair value estimate or our no-moat rating. Physical occupancy ticked down 20 basis points to 98.6%, though it is still up 20 basis point year over year. Contractual rental rates increased 1.1%, basically in line with what the company has achieved over the pas...Realty Income is a real estate investment trust. The company invests in commercial real estate. The company owns a portfolio of properties located in various states, Puerto Rico and United Kingdom.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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