◆ Contrarian Corpus
Campaigns / Pershing Square → Realty Income Corporation
Pershing Square vs. Realty Income Corporation

Realty Income Corporation · O

1 deck published between 2009-10-06 and 2009-10-06 — 35 pages, 35 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2009-10-06 initial thesis

    2009 10 Pershing Square Realty Income Presentation Oct 2009

    35pp · conference_presentation

    Realty Income trades at a 7.3% cap rate — a ~40% premium to 10-11% private-market rates for the same junk-credit retail properties; downside to ~$14 (-46%).