Item 5. Market for Registrant’s Common Equity
Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock is traded on the NYSE under the ticker symbol “O.”
Holders
There were approximately 12,700 registered holders of record of our common stock as of January 30, 2026. This figure does not reflect the beneficial ownership of shares of our common stock.
Stock Performance Graph
The line graph below compares the cumulative total stockholder return of Realty Income’s common stock from December 31, 2020 to December 31, 2025 with the cumulative total returns of the S&P 500 Index and the Financial Times and Stock Exchange ("FTSE") Nareit Equity REITs Index. The graph illustrates the performance of a $100 investment in our common stock and in each index (with reinvestment of all dividends as required by the SEC) from December 31, 2020 until December 31, 2025. Historical stock price performance should not be relied upon as an indication of future stock price performance.
Company/Index Base Period 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Realty Income $ 100.00 $ 124.07 $ 114.95 $ 109.69 $ 107.37 $ 120.47
S&P 500 $ 100.00 $ 128.68 $ 105.36 $ 133.03 $ 166.28 $ 195.98
FTSE Nareit Equity REITs $ 100.00 $ 141.31 $ 106.18 $ 118.22 $ 124.03 $ 126.82
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Repurchases of Equity Securities
The following table presents the number and average price of shares purchased during the three months ended December 31, 2025:
Period Total Number of Shares Purchased (1)
Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program (2)
Maximum Dollar Value of Shares that May be Repurchased Under the Program
October 1, 2025 — October 31, 2025 802 $ 60.17 — $ 2,000,000,000
November 1, 2025 — November 30, 2025 1,100 $ 57.01 — $ 2,000,000,000
December 1, 2025 — December 31, 2025 266 $ 57.42 — $ 2,000,000,000
Total 2,168 $ 58.23 —
(1) All 2,168 shares of common stock purchased during the three months ended December 31, 2025 were withheld for state and federal payroll taxes on the vesting of employee stock awards, as permitted under the Realty Income 2021 Incentive Award Plan, (the "2021 Plan"). The withholding of common stock by us could be deemed a purchase of such common stock.
(2) In February 2025, our Board of Directors authorized a share repurchase program for up to $2.0 billion in shares of our common stock, which will expire in January 2028.
Item 6: [ Reserved]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.