REXR - Realty Income: 8 Year Return Drought
2024-06-27 18:00:00 ET
Summary
- Realty Income has delivered exceptionally poor returns since 2016.
- The culprit was the endless hype and overpaying for modest growth.
- The painful past has now set up a better future.
While we were not raging bulls with regard to Realty Income Corporation ( O ) back in March, we did think that it made for a better buy than NNN REIT Inc ( NNN ) at the time. David had outperformed Goliath over the last three years, but the odds were in the O's favor for the next round. Both the businesses were projected to grow FFO through 2026, but O was in the lead in terms of pace. That it was trading at a lower FFO multiple and yielding slightly higher made choosing it a no-brainer....
Realty Income: 8 Year Return Drought