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Realty Income Corp., which refers to itself as the monthly dividend company, was organized to operate as an equity real estate investment trust. The primary business objective is to generate dependable monthly cash distributions from funds from operations per share. Realty Income has in-house acquisition, leasing, legal, retail and real estate research, portfolio management and capital markets expertise. Last year, Realty Income owned a diversified portfolio, which includes 1,533 retail properties; an occupancy rate of 97.9 percent, or 1,501 properties occupied of the 1,533 properties in the portfolio; leased to 93 retail chains doing business in 30 industries; located in 48 states; with more than 11.9 million square feet of leasable space, and with an average leasable retail space of 7,800 square feet.
Value
Total number of shares outstanding as of Sept. 2 79,600,000
Price of each share of common stock on Sept. 2 $23.76
Aggregate market value as of Sept. 2 $1,891,296,000
Performance Record
For year ended Dec. 31, in thousands, except per-share data.
2004 2003 2002
Total revenues $175,555 $145,293 $129,925
Net income (loss) $103,397 $86,435 $78,667
Net income (loss) per share $1.15 $1.08 $1.01
Total assets $1,442,315 $1,360,257 $1,080,230
Directors
Roger P. Kuppinger, 64, director since 1994.
Michael D. McKee, 59, director since 1994.
Donald R. Cameron, 65, director since 1994.
Willard H. Smith Jr., 68, director since 1996.
William E. Clark Jr., 67, chairman since 1969.
Thomas A. Lewis, 52, vice chairman since 1993.
Kathleen R. Allen, 59, director since 2000.
Executive Compensation
Officer 2004 Cash Compensation
Thomas A Lewis, chief executive officer $705,000
Gary M. Malino, president and chief operating officer $470,000
Paul M. Meurer, executive vice president, chief financial officer and treasurer $350,000
Michael R. Pfeiffer, executive vice president, general counsel and secretary $350,000
Kim S. Kundrak, senior vice president, portfolio acquisitions $285,000
Significant Stock Ownership
Number of shares Percent
March 4
Directors and officers as a group (12 people) 2,201,608 2.8
Other Information
Headquarters: 220 W. Crest St., Escondido, CA 92025; (760) 741-2111;
fax (760) 741-2235.
Web site: www.realtyincome.com.
Auditors: KPMG LLP.
Employees: 69.
Industry: REIT , retail.
Information was compiled from the company’s annual and proxy reports.
