This Is the Real Story Behind Realty Income's Bellagio Buy-In
Realty Income (NYSE: O) is a gigantic net lease real estate investment trust (REIT). It has a heavy focus on retail properties, but as it has grown, it has been looking for additional ways to expand its business.
In 2022, Realty Income ventured into a new property type, with the purchase of a casino. However, the recent acquisition of a stake in the Bellagio casino in Las Vegas, which adds to the REIT's casino exposure, is much more important than it seems.
When you look at Realty Income, you have to start with a good grasp of how large a REIT it really is. At a high level, the market cap of roughly $40 billion is more than twice the size of the next largest direct competitor, W. P. Carey, which sits at around $14 billion. The next largest peers after that are a step smaller, hovering in the $5 billion to $7 billion market cap range. Realty Income's portfolio, meanwhile, has a huge 13,100 properties in it.
Source Fool.com
