<div id="readability-page-1"><div><div><ul><li>Realty Income recently announced a small increase in its monthly cash dividend to US$0.2700 per share from US$0.2695, payable on January 15, 2026 to shareholders of record on December 31, 2025, lifting the annualized payout to US$3.240 per share.</li><li>This marks the company’s 133rd dividend increase since its 1994 NYSE listing, reinforcing its reputation for persistent, incremental income growth supported by a large, diversified global property portfolio.</li><li>We’ll now explore how this latest dividend bump, and the continued streak of 133 increases, affects Realty Income’s investment narrative.</li></ul><p>The latest GPUs need a type of rare earth metal called Dysprosium and there are only 37 companies in the world exploring or producing it. Find the list for free.</p><h2>Realty Income Investment Narrative Recap</h2><p>To own Realty Income, you need to believe in the durability of its net lease model and its ability to keep properties largely occupied while steadily expanding a necessity-focused portfolio in the US and Europe. The latest US$0.2700 monthly dividend increase is incremental and does not materially change the near term picture, where the key positive remains ongoing acquisition-driven growth and the biggest risk is rising funding costs and competition for deals that could pressure acquisition spreads.</p><p>Against this backdrop, management’s disclosure of heavy capital deployment into Europe and an expanded presence across industrial, gaming, office, manufacturing, and distribution properties is especially relevant. It shows how Realty Income is leaning into diversification and a larger global opportunity set, which supports the income story but also magnifies risks around foreign currency exposure and execution in newer verticals if returns on these newer assets fall short of expectations.</p><p>Yet behind the comfort of 133 dividend increases, investors should also be aware of rising debt costs and acquisition competition that could...</p><p>Read the full narrative on Realty Income (it's free!)</p><p>Realty Income's narrative projects $6.2 billion revenue and $1.6 billion earnings by 2028. This requires 4.1% yearly revenue growth and roughly a $700 million earnings increase from $908.1 million today.</p><p>Uncover how Realty Income's forecasts yield a $63.38 fair value, a 10% upside to its current price.</p><h2>Exploring Other Perspectives</h2><figure><div><div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/SVdlZKJm5hV0hgLT0Zr8Jg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2NA--/https://media.zenfs.com/en/simply_wall_st__316/fee5285f5dbb62cf869c5beda20d29be?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="960" height="664" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/SVdlZKJm5hV0hgLT0Zr8Jg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2NA--/https://media.zenfs.com/en/simply_wall_st__316/fee5285f5dbb62cf869c5beda20d29be"/></p></div></div><p></p><figcaption>O 1-Year Stock Price Chart</figcaption><p></p></figure><p>Seventeen fair value estimates from the Simply Wall St Community span roughly US$56 to US$97 per share, reflecting wide disagreement on Realty Income’s upside. When you weigh these views against the company’s growing European exposure and currency risk, it underlines why understanding multiple scenarios for future earnings stability really matters.</p><p>Explore 17 other fair value estimates on Realty Income - why the stock might be worth just $56.00!</p><h2>Build Your Own Realty Income Narrative</h2><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your Realty Income research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.</li><li>Our free Realty Income research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Realty Income's overall financial health at a glance.</li></ul><h2>Want Some Alternatives?</h2><p>Our daily scans reveal stocks with breakout potential. Don't miss this chance:</p><ul><li>Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.</li><li>Uncover the next big thing with financially sound penny stocks that balance risk and reward.</li><li>These 11 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch.</li></ul><p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p><p><em>Companies discussed in this article include O.</em></p><p><strong>Have feedback on this article? Concerned about the content? Get in touch with us directly.</strong><em> Alternatively, email editorial-team@simplywallst.com</em></p></div></div></div>

<p>Realty Income announced a small increase in its monthly cash dividend to US$0.2700 per share, payable on January 15, 2026. This marks the company's 133rd dividend increase since its 1994 NYSE listing, reinforcing its reputation for persistent income growth. The company projects $6.2 billion revenue and $1.6 billion earnings by 2028, with a fair value estimate of $63.38 per share. However, rising debt costs and acquisition competition pose risks.</p>

What Realty Income (O)'s 133rd Dividend Increase Signals About Its Income-Focused Strategy