O vs. SBAC: Realty Income vs. SBA Communications Stock Comparison

Company Profile

Realty Income (O) and SBA Communications (SBAC) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but O is classified in Retail REITs while SBAC is classified in Specialized REITs.

Both Realty Income (O) and SBA Communications (SBAC) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Capital efficiency shows on one side only: Realty Income (O) earns 3.48% on shareholders’ equity, ranked against its industry; SBA Communications (SBAC) has no ROE this period.

Neither Realty Income (O) in Equity Real Estate Investment Trusts (REITs) nor SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for Realty Income (O) in Equity Real Estate Investment Trusts (REITs) and SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Realty Income (O) at 9.07% and SBA Communications (SBAC) at 5.06% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Realty Income (O) in Equity Real Estate Investment Trusts (REITs) or SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Realty Income (O) at 2.17 carries current ratio above its industry’s typical mid-range, while SBA Communications (SBAC) at 0.19 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

Only one side’s leverage can be read here: Realty Income (O) carries debt-to-equity ratio of 0.75 against its industry range, while SBA Communications (SBAC) reports no figure this period.

Financial Strength Metrics

Dividends

Realty Income (O) at 5.45% pays a yield in its industry’s typical range, while SBA Communications (SBAC) at 2.52% falls in the bottom quartile of its peers.

An earnings-based payout ratio fits neither Realty Income (O) in Equity Real Estate Investment Trusts (REITs) nor SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either Realty Income (O) in Equity Real Estate Investment Trusts (REITs) or SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

SBA Communications (SBAC) at 6.94 is priced about in line with its industry on P/S ratio, while Realty Income (O) at 9.06 sits in the pricier quartile — O costs more per dollar of sales.

SBA Communications (SBAC) reports a negative P/B ratio of -4.09, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Realty Income (O) reports 1.42, ranking against industry peers normally.

Valuation Metrics