While a steady performer, Realty Income will have difficulty repeating its past success.
Realty Income reported fourth-quarter and full-year 2016 results in line with our expectations for the steadily performing company. We are maintaining our $51 per share fair value estimate and no-moat rating. Economic occupancy levels were marginally down year over year, to 98.9% from 99.2%, while same-store rents increased 1.2% for the year, mainly on modest contractual increases. The company's appetite remained strong for acquisitions, investing $1.86 billion for the year and $786 million for ...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.
We have operations in 27 countries.
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