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Realty Income Corporation

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Shares of Realty Income have underperformed the industry it belongs to over the past three months. The stock has seen the Zacks Consensus Estimate for third-quarter and current-year funds from operations (FFO) per share remaining unchanged in a month’s time. Although, this freestanding retail REIT derives retail rental revenue from a diverse tenant base belonging to service, non-discretionary and low-price retail business, its drug store tenants account for a significant portion of rental revenues. This makes the company susceptible to any adversity in this industry. Moreover, its substantial exposure to single tenant assets raises risks associated with tenant default and fall in value of property. Rate hike increase its woes.


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