O - Realty Income: O How You've Changed

2024-07-20 02:02:37 ET

Summary

• This month marks my tenth year as a shareholder of Realty Income.
• O is the world's largest net lease REIT and the fourth largest REIT by market capitalization.
• Over the past ten years, O's portfolio and business have fundamentally changed, adding business units and absorbing large competitors.
• We explore the changes of the past decade, focusing on implications for O's future.

This month marks a special milestone as a shareholder of Realty Income ( O ). I purchased my first shares of O in July 2014, making this my tenth year as a shareholder of the world’s largest net lease real estate investment trust. Since my initial investment, I have accumulated more, making “The Monthly Dividend Company” my largest real estate investment.

My initial investment came following O’s acquisition of American Realty Capital Trust for $3.2 billion in 2013. I believed in management, including newly appointed Chief Executive Officer, John Case....

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