Realty Income

Realty Income was founded by William and Joan Clark in 1969 to generate monthly income for investors. From the first Taco Bell property acquisition in 1969 to today, we have continued to operate the company according to two key objectives:

1. Grow and maintain a reliable real estate portfolio to pay dividends to shareholders

• Our real estate investment strategy is focused on owning properties net leased to tenants with a service, non-discretionary, and/or low price point component to their business
• We target properties located in significant markets or strategic locations to ensure the viability of the real estate location for the tenant’s business
• Our acquisitions department uncovers opportunities consistent with this strategy
• Our research department uses its underwriting expertise to assess the tenants’ long-term business prospects
• We seek to maintain tenant, industry and geographic diversification through our acquisitions, portfolio management and asset management strategies

2. Secure access to low-cost capital to support real estate acquisitions that increase earnings

• We have maintained access to the public equity markets since our 1994 listing on the New York Stock Exchange
• We have achieved and maintained investment grade credit ratings since 1996
• Our relationships with investment and commercial banks provide continued access to capital to fund our growth
• Our conservative balance sheet preserves a low cost of capital and offers financial stability throughout various economic cycles