Realty Income Corporation (O)
Real Estate · REIT - Retail · Data as of 2026-09-01
Bottom line
O is trading at a premium to its history, near its historical resistance zone, and recent volume suggests money flowing out. Historically, this combination has called for extra caution. Past patterns are not a guarantee of future results.
Valuation — Above its usual book-value multiple (Red)
For financial companies we look at price versus book value. O trades at 1.5× book value, against its own typical 1.2× while earning a 3% return on equity. Its current multiple sits around the 28th percentile of its own last five years — toward the low end of its own range.
Price zones — Near its historical resistance zone (Red)
At $61.36, the stock is close to the upper end of its recent range. Over the past year O has traded between $55.86 and $67.94; its historical support zone sits near $55.86 and resistance near $61.79. It is below both its 50- and 200-day averages, which has historically signalled a downtrend.
52-week range $55.86–$67.94 · 50-day average $63.27 · 200-day average $61.79
Money flow — Money is flowing out (Red)
Recent trading in O shows more volume on falling days than rising days, a pattern often described as distribution. Volume on up days has been about 0.7× volume on down days over the last 30 sessions.
About the company
Known as "The Monthly Dividend Company," Realty Income is an S&P 500 corporation committed to delivering reliable monthly income to its shareholders. Operating as a Real Estate Investment Trust (REIT), its monthly payouts are generated from the consistent cash flow of over 6,500 commercial properties, which are leased to various businesses under long-term contracts. With a remarkable 52-year operational history, the firm (NYSE: O) has announced 608 uninterrupted monthly dividends for its common stock and has increased its dividend payout 109 times since going public in 1994.
一句话结论
O 相对自身历史处于溢价水平，接近其历史阻力区，近期成交量显示资金正在流出。从历史来看，这样的组合需要格外谨慎。过去的形态并不能保证未来的结果。
估值 — 高于其惯常的市净率水平
对金融公司，我们看的是价格与账面价值的关系。O 的市净率为 1.5×，而它自身惯常的水平是 1.2×，同时取得 3% 的净资产收益率。它当前的估值倍数大约位于自身过去五年分布的第 28 百分位——处于自身区间的偏低位置。
价格区间 — 接近其历史阻力区
目前价格为 $61.36，接近其近期区间的上沿。过去一年 O 的价格在 $55.86 到 $67.94 之间波动；其历史支撑区在 $55.86 附近，阻力区在 $61.79 附近。它同时位于 50 日和 200 日均线下方，这在历史上通常对应下降趋势。
资金流向 — 资金正在流出
O 近期下跌日的成交量高于上涨日，这种形态常被称为派发。过去 30 个交易日，上涨日的成交量约为下跌日的 0.7×。
UnderTheLight 用直白的语言解释股票——估值、价格区间与资金流向。它只描述数据，不构成任何投资建议。
UnderTheLight explains stocks in plain English — valuation, price zones and money flow as traffic lights, recomputed nightly. It describes data; it is not investment advice and never recommends a trade.