DIVERSIFIED DELIVERS
We focus on acquiring and managing high-quality, single-unit freestanding commercial properties under long-term, net lease agreements leased to leading global operators. By curating an extensive and highly diversified portfolio, our business generates reliable revenue that supports our increasing monthly dividends and strategic growth initiatives. Currently, our portfolio includes approximately *#number-of-properties-rounded#* commercial properties that are leased to *#number-of-clients-rounded#* different clients who operate in more than *#number-of-industries#* separate industries throughout *#geographies#*.
TOP 10 INDUSTRIES
Presented as a percentage of Total Portfolio Annualized Contractual Rent
| INDUSTRY | % | Color |
|---|---|---|
| Grocery Stores | 10.7 | #242852 |
| Convenience Stores | 9.8 | #242852 |
| Home Improvement | 6.4 | #242852 |
| Dollar Stores | 6.2 | #242852 |
| Restaurants - Quick Service | 4.9 | #242852 |
| Drug Stores | 4.6 | #242852 |
| Health and Fitness | 4.4 | #242852 |
| Automotive Service | 4.3 | #242852 |
| Restaurants - Casual Dining | 3.8 | #242852 |
| General Merchandise | 3.3 | #242852 |
Note: Data presented as of *#end-of-quarter-date#*.
CLIENT DIVERSIFICATION - TOP 20 CLIENTS
| CLIENT | % | Color |
|---|---|---|
| 7-Eleven | 3.4 | #8692BC |
| Dollar General | 3.2 | #8692BC |
| Walgreens | 3.2 | #242852 |
| Dollar Tree | 2.9 | #8692BC |
| Life Time Fitness | 2.1 | #242852 |
| CLIENT | % | Color |
|---|---|---|
| EG Group Limited | 2.1 | #242852 |
| Wynn Resorts | 2.0 | #242852 |
| B&Q | 2.0 | #8692bc |
| FedEx | 1.8 | #8692bc |
| Asda | 1.6 | #242852 |
| TOPIC | PERCENTAGE | Color |
|---|---|---|
| Sainsbury's | 1.6 | #8692bc |
| BJ's | 1.5 | #242852 |
| Tesco | 1.4 | #8692bc |
| Tractor Supply | 1.3 | #8692bc |
| CVS Pharmacy | 1.2 | #8692bc |
| CLIENT | PERCENTAGE | Color |
|---|---|---|
| MGM (Bellagio) | 1.1 | #242852 |
| LA Fitness | 1.1 | #242852 |
| Home Depot | 1.1 | #8692bc |
| AMC Theatres | 1.0 | #242852 |
| Walmart - Sam's Club | 1.0 | #8692bc |
Note: All data presented as of *#end-of-quarter-date#*. Our 20 largest clients are presented based on percentage of total portfolio annualized contractual rent, which does not give effect to deferred rent. Amounts for each client are calculated independently; therefore, the individual percentages may not sum to the total. Periwinkle indicates investment grade clients that are companies or their subsidiaries with a credit rating, as of the balance sheet date, of Baa3/BBB- or higher from one of the three major rating agencies (Moody’s/S&P/Fitch).
PROPERTY TYPE DIVERSIFICATION
| TYPE | % | Color |
|---|---|---|
| Retail | 79.9 | #8692BC |
| Industrial | 14.6 | #242852 |
| Gaming | 3.1 | #868686 |
| Other* | 2.4 | #09B881 |
Note: Property Type Diversification presented as the percentage of Total Portfolio Annualized Contractual Rent as of *#end-of-quarter-date#*.
* "Other" primarily includes 27 properties classified as agriculture with $35.1 million in Annualized Base Rent, 14 properties classified as office with $32.8 million in Annualized Base Rent, 21 properties classified as country clubs with $25.9 million in Annualized Base Rent, and three properties classified as data centers with $24.5 million in Annualized Base Rent, as well as one land parcel under development.
Geographical Diversification
Based on Total Portfolio Annualized Contractual Rent
| Location | % | Color |
|---|---|---|
| Midwest | 20.9 | #242852 |
| Southeast | 18.1 | #242852 |
| Southwest | 13.7 | #242852 |
| United Kingdom | 13.6 | #242852 |
| Pacific Southwest | 11.1 | #242852 |
| Northeast | 9.5 | #242852 |
| Mid-Atlantic | 7.7 | #242852 |
| Europe | 3.7 | #242852 |
| Pacific Northwest | 1.7 | #242852 |
Note: Data presented as of *#end-of-quarter-date#*.
PORTFOLIO OCCUPANCY
Realty Income has maintained strong year-end portfolio occupancy which has never been below 96%.
| YEAR | Portfolio Occupancy % |
|---|---|
| 1992 | 98.6 |
| 1993 | 98.8 |
| 1994 | 99.4 |
| 1995 | 99.3 |
| 1996 | 99.1 |
| 1997 | 99.2 |
| 1998 | 99.5 |
| 1999 | 98.4 |
| 2000 | 97.7 |
| 2001 | 98.2 |
| 2002 | 97.7 |
| 2003 | 98.1 |
| 2004 | 97.9 |
| 2005 | 98.5 |
| 2006 | 98.7 |
| 2007 | 97.9 |
| 2008 | 97.0 |
| 2009 | 96.8 |
| 2010 | 96.6 |
| 2011 | 96.7 |
| 2012 | 97.2 |
| 2013 | 98.2 |
| 2014 | 98.4 |
| 2015 | 98.4 |
| 2016 | 98.3 |
| 2017 | 98.4 |
| 2018 | 98.6 |
| 2019 | 98.6 |
| 2020 | 97.9 |
| 2021 | 98.5 |
| 2022 | 99.0 |
| 2023 | 98.6 |
| 2024 | 98.7 |
| 2025 | 98.6 |
Note: Data presented as of *#end-of-quarter-date#*. Occupancy is calculated by number of occupied properties divided by total number of properties. Excludes properties with ancillary leases only, such as cell towers and billboards, and properties with possession pending. Includes properties owned by unconsolidated joint ventures.
GEOGRAPHIC DIVERSIFICATION
Note: Data presented as of *#end-of-quarter-date#*.