## O (Realty Income) — PE Stream Chart Analysis **Current Valuation (Latest Data Point):** As of the most recent data point (mid-March 2026), Realty Income's monthly average price stands at approximately **$63.04**, which places it firmly in the **"Overvalued" zone** — trading above the 55.2x PE boundary (priced at ~$59.31) but below the 60.8x PE boundary (priced at ~$65.30). More specifically, the stock is positioned between the **55.2 times and 60.8 times** PE interval, suggesting the market is pricing the stock at a relatively elevated multiple compared to its historical norms. This positioning warrants caution for new investors, as the current price reflects limited margin of safety relative to the broader PE band range of 32.9x to 60.8x. **Historical Valuation Trend:** Over the observed period from early 2021 through early 2026, Realty Income's stock has undergone notable valuation shifts across the PE band spectrum. In early 2021, the stock traded largely within the **"Fair" to "Watch" interval** (between the 38.5x and 44.1x PE boundaries), reflecting moderate valuation. Through 2022 and into early 2023, the PE stream boundaries expanded meaningfully — driven by earnings fluctuations — yet the stock price remained largely range-bound between $48 and $60, frequently hovering in the **"Undervalued" to "Value" zone** (below the 38.5x boundary) during mid-to-late 2023 when prices dipped toward the low-to-mid $40s. This period represented the most attractive entry point in the entire observed timeframe. From early 2024 onward, the stock gradually recovered, climbing from the **"Undervalued"** zone back through the **"Value"** and **"Fair"** intervals. The most recent acceleration into early 2026 — with prices rising from ~$50 to ~$64 — has pushed the stock into the **"Overvalued"** zone for the first time in the dataset. The overall PE river trend has been relatively **stable to slightly contracting** in terms of boundary levels, suggesting earnings growth has been modest, making the recent price appreciation the primary driver of the elevated valuation positioning.