Realty Income (O) Stock Buyback History
TTM buyback yield 0.18% · Shareholder yield (TTM) 0.18%.
TTM buyback yield
0.18%
Shareholder yield (TTM)
0.18%
5Y share count change
161.9%
TTM buyback spend
$101.91M
SBC coverage (TTM)
4.10x
YoY change in spend
-100.0%
5Y CAGR of spend
N/A
Peak year (2017)
$408.75M
Cumulative spend
$1.08B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Realty Income (O) repurchased about $101.91M of stock over the trailing twelve months.
- Diluted share count is up 161.9% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
- TTM buyback ÷ stock-based-comp ratio of 4.10× — repurchases more than cover SBC dilution.
- TTM repurchases used about 6% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $0.00 | $30.77M | −$30.77M | 0.90B | 3.2% | — |
| 2024 | $172.51M | $57.49M | $115.02M | 0.88B | 26.5% | 0.37% |
| 2023 | $0.00 | $26.23M | −$26.23M | 0.69B | 13.2% | — |
| 2022 | $0.00 | $21.62M | −$21.62M | 0.61B | 47.6% | — |
| 2021 | $0.00 | $41.77M | −$41.77M | 0.41B | 20.1% | — |
| 2020 | $0.00 | $16.50M | −$16.50M | 0.35B | 9.3% | — |
| 2019 | $21.12M | $13.66M | $7.46M | 0.32B | 9.0% | 0.09% |
| 2018 | $2.75M | $27.27M | −$24.52M | 0.29B | 5.8% | 0.02% |
| 2017 | $408.75M | $13.95M | $394.80M | 0.27B | 7.2% | 2.68% |
| 2016 | $9.03M | $12.01M | −$2.98M | 0.26B | 8.2% | 0.06% |
| 2015 | $6.75M | $10.39M | −$3.64M | 0.24B | 8.0% | 0.05% |
| 2014 | $220.00M | $11.96M | $208.04M | 0.22B | 14.1% | 2.15% |
| 2013 | $0.00 | $20.79M | −$20.79M | 0.19B | 44.3% | — |
| 2012 | $127.50M | $10.00M | $117.50M | 0.13B | 5.3% | 1.91% |
| 2011 | $0.00 | $0.00 | $0.00 | 0.13B | 19.1% | — |
| 2010 | $0.00 | $0.00 | $0.00 | 0.11B | 2.3% | — |
| 2009 | $0.00 | $0.00 | $0.00 | 0.10B | 2.3% | — |
| 2008 | $0.00 | $0.00 | $0.00 | 0.10B | 0.9% | — |
| 2007 | $0.00 | $0.00 | $0.00 | 0.10B | 11.6% | — |
| 2006 | $0.00 | $0.00 | $0.00 | 0.09B | 12.1% | — |
| 2005 | $0.00 | $0.00 | $0.00 | 0.08B | 2.0% | — |
| 2004 | $103.14M | $0.00 | $103.14M | 0.08B | 10.4% | 5.31% |
| 2003 | $0.00 | $0.00 | $0.00 | 0.07B | 4.8% | — |
| 2002 | $0.00 | $0.00 | $0.00 | 0.07B | 20.2% | — |
| 2001 | $169.00K | $0.00 | $169.00K | 0.06B | 5.4% | 0.02% |
| 2000 | $6.50M | $0.00 | $6.50M | 0.05B | -0.4% | 1.01% |
| 1999 | $0.00 | $0.00 | $0.00 | 0.05B | 1.1% | — |
| 1998 | $0.00 | $0.00 | $0.00 | 0.05B | 13.3% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 0.05B | 2.3% | — |
| 1996 | $188.00K | $0.00 | $188.00K | 0.05B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Realty Income (O) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Realty Income (O)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Realty Income (O)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $0 | -100.0% | -$172.51M | ||
| 2024 | $172.51M | — | +$172.51M | ||
| 2023 | $0 | — | $0 | ||
| 2022 | $0 | — | $0 | ||
| 2021 | $0 | — | $0 | ||
| 2020 | $0 | -100.0% | -$21.12M | ||
| 2019 | $21.12M | +667.6% | +$18.37M | ||
| 2018 | $2.75M | -99.3% | -$406.00M | ||
| 2017 | $408.75M | +4428.6% | +$399.72M | ||
| 2016 | $9.03M | +33.7% | +$2.28M | ||
| 2015 | $6.75M | -96.9% | -$213.25M | ||
| 2014 | $220.00M | — | +$220.00M | ||
| 2013 | $0 | -100.0% | -$127.50M | ||
| 2012 | $127.50M | — | +$127.50M | ||
| 2011 | $0 | — | $0 | ||
| 2010 | $0 | — | $0 | ||
| 2009 | $0 | — | $0 | ||
| 2008 | $0 | — | $0 | ||
| 2007 | $0 | — | $0 | ||
| 2006 | $0 | — | $0 | ||
| 2005 | $0 | -100.0% | -$103.14M | ||
| 2004 | $103.14M | — | +$103.14M | ||
| 2003 | $0 | — | $0 | ||
| 2002 | $0 | -100.0% | -$169,000 | ||
| 2001 | $169,000 | -97.4% | -$6.33M | ||
| 2000 | $6.50M | — | +$6.50M | ||
| 1999 | $0 | — | $0 | ||
| 1998 | $0 | — | $0 | ||
| 1997 | $0 | -100.0% | -$188,000 | ||
| 1996 | $188,000 | — | +$188,000 | ||
| 1995 | $0 | — | $0 | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | — | — |
Realty Income (O) most recent annual buyback spend stands at $0 (2025) – plunged 100.0% year-over-year.
Realty Income buyback spend compound annual growth for the 2015–2025 (10 years) window is -100.0%, with a net decline across the window.
Between 2017 and 2025, Realty Income buyback spend plunged 100.0%, falling from $408.75M to $0.
$408.75M stands as the all-time-high annual buyback spend, posted in 2017, against a low of $0 during 1993.
Among 8 Real Estate peers, Realty Income (O) ranks 3rd; the peer median for buyback spend is $0.
Realty Income Buyback Spend 2025: $0
Realty Income buyback spend in 2025 was $0, plunged 100.0% below 2024.
Realty Income Buyback Spend 2024: $172.51M
Realty Income buyback spend in 2024 was $172.51M.
Realty Income Buyback Spend 2023: $0
Realty Income buyback spend in 2023 was $0.
Realty Income Buyback Spend 2022: $0
Realty Income buyback spend in 2022 was $0.
Realty Income Buyback Spend 2021: $0
Realty Income buyback spend in 2021 was $0.
See more financial history for Realty Income (O).
Sector peers by buyback spend
Companies in the same sector as Realty Income, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| American Tower (AMT) | $364.60M | Real Estate |
| Simon Property Group (SPG) | $227.15M | Real Estate |
| Welltower (WELL) | $0 | Real Estate |
| Prologis (PLD) | $0 | Real Estate |
| Equinix (EQIX) | $0 | Real Estate |
| Digital Realty Trust (DLR) | $0 | Real Estate |
| Public Storage (PSA) | $0 | Real Estate |
| Ventas (VTR) | $0 | Real Estate |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 4.10×.
Capital allocation mix
How Realty Income splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $1.85B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Realty Income's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Realty Income buy back its own stock?
Yes, Realty Income (O) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Realty Income spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $101.91M (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Realty Income's buyback yield?
TTM buyback yield is about 0.18% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Realty Income's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 0.18% combined (TTM-based where available).
Is Realty Income diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Realty Income's share count changed?
Diluted weighted average shares changed by about 161.9% over roughly five fiscal years (annual income statement data).
What is Realty Income's buyback spend?
Latest reported buyback spend for Realty Income (O) is $101.91M (period ending March 31, 2026).
How has Realty Income buyback spend changed year-over-year?
Realty Income (O) buyback spend changed -100.0% year-over-year on the latest annual filing.
What is the long-term growth rate of Realty Income buyback spend?
Realty Income (O) buyback spend compound annual growth rate is -100.0% over the most recent 10 years available.
When did Realty Income buyback spend hit its highest annual value?
Realty Income buyback spend reached its highest annual value of $408.75M in 2017.
What was Realty Income buyback spend in 2024?
Realty Income (O) buyback spend in 2024 was $172.51M.
What was Realty Income buyback spend in 2025?
Realty Income (O) buyback spend in 2025 was $0.
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