Eoneren Realty Income: The Tide Has Reversed Realty Income Corporation (NYSE:O) investors have outperformed the S&P 500 (SPX) (SPY) easily since early July 2024, as real estate investors have returned more aggressively. Given Realty Income's well-diversified exposure as a leading retail-focused net lease REIT, it has benefited significantly from the inward rotation. Given the hawkish Fed over the past two years, the market has battered O and its REITs peers. However, Fed Chair Jerome has made it clear t ...