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Morningstar•September 11, 2020
Morningstar•September 11, 2020Realty Income Corporation: Realty Income's Retail Portfolio Should Be Resistant to Pandemic, Recession, and E-Commerce Impacts
Symbols
OSector(s)
Real Estate
Rating
Premium
Current Price
$59.96
Fair Value
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Economic Moat
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Stewardship
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Summary
Realty Income owns roughly 6,500 properties, most of which are freestanding, single-tenant, triple-net-leased retail properties. Its properties are located in 49 states and Puerto Rico and are leased to 250 tenants from 47 industries. Recent acquisitions have added industrial, office, manufacturing, and distribution properties, which make up roughly 18% of revenue.
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Analyst Profile
Kevin Brown
Equity AnalystKevin Brown is an equity analyst on the finance team for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers apartment, healthcare, and hotel REITs and real estate service companies in the United States.Before joining Morningstar in 2018, Brown worked at an asset-management company focused on global real estate, spending nine years covering healthcare and hotel REITs.Brown holds a bachelor’s degree in economics from Dartmouth College. He also holds the Chartered Financial Analyst® designation.
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