REALTY INCOME CORP (O) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: May 08, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 3.46% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
890M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

O currently has 892M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 3.46% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 08, 2026

8-K filing: Realty Income Corporation entered into a sales agreement to offer and sell up to 150,000,000 shares of its common stock through agents and forward sellers.

890M 0
Nov 07, 2025

8-K filing: Realty Income Corporation entered into a sales agreement for the offer and sale of up to 150,000,000 shares of its common stock through agents and forward sale agreements.

890M 0
May 06, 2025

10-Q filing | 892.4M shares outstanding

890M 0
Feb 25, 2025

10-K filing | 863.8M shares outstanding

860M 0
Nov 05, 2024

10-Q filing | 872.1M shares outstanding

870M 0
Aug 06, 2024

10-Q filing | 870.7M shares outstanding

870M 0
May 07, 2024

10-Q filing | 835.2M shares outstanding

840M 0
Feb 23, 2024

8-K filing: Realty Income Corporation entered into a sales agreement for the offer and sale of up to 120,000,000 shares of the Company's common stock and terminated the existing sales agreement, dated August 4, 2023, by and among the Company and certain of the Agents and the Forward Purchasers, relating to the Company's previous at-the market program.

860M 0
Feb 21, 2024

10-K filing | 861.1M shares outstanding

860M 0
Feb 16, 2024

8-K filing: Realty Income Corporation filed a shelf registration statement and prospectus supplements for its Dividend Reinvestment and Stock Purchase Plan and for the offer and sale of up to 1,738,767 shares of common stock by selling stockholders upon redemption of limited partnership interest units.

710M 0
Jan 24, 2024

8-K filing: Realty Income filed Articles Supplementary classifying 6,900,000 shares of authorized capital stock as Series A Preferred Stock and defining the terms, including dividend rate, liquidation preference, redemption options, and change of control conversion rights which may be impacted by share splits.

710M 0
Jan 08, 2024

8-K filing: Realty Income Corporation provided updates on its recent investments, capital raising activities, liquidity, and litigation matters, including the settlement of approximately 91.7 million shares of common stock previously sold pursuant to forward sale agreements through its ATM programs for approximately $5.4 billion of net proceeds as of December 31, 2023. ($5400.0M proceeds)

710M 0
Nov 07, 2023

10-Q filing | 709.5M shares outstanding

710M 0
Aug 07, 2023

8-K filing: Realty Income Corporation entered into a sales agreement for the offer and sale of up to 120,000,000 shares of its common stock through agents or directly to agents as principal, and by forward sellers acting as sales agents for forward purchasers, and terminated its previous at-the-market program where 101,779,911 of the 120,000,000 shares available were sold.

670M 0
Aug 03, 2023

10-Q filing | 674.6M shares outstanding

670M 0
Jun 28, 2023

8-K filing: Realty Income Corporation provided updates on property investments, capital raising, and liquidity, including ATM equity capital raising activities. ($0.0M proceeds)

660M 0
May 04, 2023

10-Q filing | 661.2M shares outstanding

660M 0
Apr 05, 2023

8-K filing: Realty Income Corporation provided updates on its property investments and capital raising activities, including ATM equity capital raising. As of April 3, 2023, the company had executed forward sale agreements relating to approximately 27.1 million shares of common stock, representing approximately $1.7 billion in estimated net proceeds. They also settled approximately 12.7 million shares of common stock previously sold pursuant to forward sale agreements for approximately $0.8 billion of net proceeds. ($800.0M proceeds)

610M 0
Feb 22, 2023

10-K filing | 612.2M shares outstanding

610M 0
Jan 09, 2023

8-K filing: Realty Income Corporation provided updates on recent property investments and capital raising activities, including ATM equity capital raising where they settled approximately 33.1 million shares of common stock previously sold pursuant to forward sale agreements for approximately $2.2 billion of net proceeds during the three months ended December 31, 2022. ($2200.0M proceeds)

620M 0
Nov 03, 2022

10-Q filing | 618.0M shares outstanding

620M 0
Oct 03, 2022

8-K filing: Realty Income Corporation reports raising approximately $0.7 billion of gross proceeds from the sale of approximately 9.5 million shares of common stock at a weighted average price of $73.05 per share through its at-the-market (ATM) program during the three months ended September 30, 2022. ($700.0M proceeds)

600M 0
Aug 04, 2022

10-Q filing | 602.0M shares outstanding

600M 0
Jun 16, 2022

8-K filing: Realty Income Corporation entered into a sales agreement for the offer and sale of up to 120,000,000 shares of the Company's common stock through agents and forward purchasers, and terminated its prior at-the-market program where 65,674,123 of 69,088,433 shares were sold.

590M 0
May 05, 2022

10-Q filing | 594.0M shares outstanding

590M 0
Feb 23, 2022

10-K filing | 591.3M shares outstanding

590M 0
Dec 03, 2021

8-K filing: Realty Income Corporation acquired properties for $1.1 billion and raised $1.55 billion in capital through the sale of common stock and a distribution from Orion Office REIT Inc. ($950.0M proceeds)

39M 0
Nov 12, 2021
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 392,050,401 → 39,205,040

39M 0
Nov 02, 2021

10-Q filing | 392.1M shares outstanding

390M 0
Aug 18, 2021

8-K filing: Realty Income Corporation entered into a sales agreement to offer and sell up to 69,088,433 shares of its common stock through agents and forward purchasers, while also terminating its prior ATM program where 24,313,972 shares were sold out of the initial 33,402,405 available.

370M 0
Aug 03, 2021

10-Q filing | 374.3M shares outstanding

370M 0
Jul 06, 2021

8-K filing: Realty Income Corporation completed an offering of 9,200,000 shares of common stock for total proceeds of approximately $594.1 million, which will be used to repay borrowings and for general corporate purposes. ($594.1M proceeds)

370M 0
Jun 07, 2021

8-K filing: Realty Income Corporation filed a shelf registration statement and two prospectus supplements related to its Dividend Reinvestment and Stock Purchase Plan and an at-the-market program (ATM Program). It also entered into Amendment No. 2 to its Sales Agreement relating to the ATM Program, addressing matters related to the pending merger with VEREIT, Inc. As of the date of the report, the company has sold a total of 17,724,374 shares of its Common Stock pursuant to the ATM Program.

370M 0
May 04, 2021

10-Q filing | 371.6M shares outstanding

370M 0
Feb 23, 2021

10-K filing | 345.4M shares outstanding

350M 0
Jan 14, 2021

8-K filing: Realty Income Corporation completed a public offering of 12,075,000 shares of common stock at a price of $57.05 per share, resulting in net proceeds of approximately $669.6 million, which will be used for property acquisitions and general corporate purposes. ($669.6M proceeds)

350M 0
Nov 03, 2020

10-Q filing | 346.7M shares outstanding

350M 0
Aug 04, 2020

10-Q filing | 343.7M shares outstanding

340M 0
May 05, 2020

10-Q filing | 336.6M shares outstanding

340M 0
Mar 02, 2020

8-K filing: Realty Income Corporation completed the sale of 9,000,000 shares of common stock at a public offering price of $77.40 per share, with an option for the Underwriters to purchase up to an additional 1,350,000 shares, resulting in net proceeds of approximately $677.1 million. ($677.1M proceeds)

320M 0
Feb 24, 2020

10-K filing | 315.8M shares outstanding

320M 0
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