Merlin Properties vs Realty Income (MRL vs O)
Merlin Properties (MRL) vs Realty Income (O) in plain English: P/E, growth, margins, debt and dividend side by side, key differences and which fits each investor profile.
Merlin Properties (MRL) and Realty Income (O) compete in real estate. Here are Merlin Properties and Realty Income side by side with their real figures as of November 4, 2026: what sets them apart, which fits each kind of investor and the most common questions, without telling you whether to buy Merlin Properties or Realty Income.
Merlin Properties vs Realty Income: the figures
| Figure | Merlin Properties | Realty Income |
|---|---|---|
| Share price | €11.71 (November 4, 2026) | $59.22 (November 4, 2026) |
| Market cap | €7.3 billion | $56.0 billion |
| P/E (TTM) | 8.0x | 40.6x |
| Forward P/E | 20.9x | 38.1x |
| Revenue growth (quarter) | +14.6% | +10.2% |
| Net margin (TTM) | 141.7% | 21.8% |
| Net debt / EBITDA | 8.3x | 5.6x |
| Dividend yield | 1.86% | 5.67% |
| Beta | 0.97 | 0.65 |
Merlin Properties and Realty Income figures from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026; N/A means that Merlin Properties or Realty Income figure is not available, and we never estimate it.
3 key differences between Merlin Properties and Realty Income
- Profitability: for every 100 of sales, Merlin Properties keeps 141.7 as net profit and Realty Income keeps 21.8.
- Valuation: Realty Income trades at 40.6x its annual earnings and Merlin Properties at 8.0x; the market pays more for each dollar of Realty Income profit, usually because it expects more growth.
- Dividend: Realty Income yields 5.67% at today's price and Merlin Properties yields 1.86%.
Merlin Properties or Realty Income: which fits your profile
- If you want growth: Merlin Properties is growing faster today, so it fits better with investors who put business growth first, usually accepting a higher P/E and a bumpier ride.
- If you want income (dividends): Realty Income pays the higher dividend relative to its price.
- If you prefer caution: Realty Income has less debt relative to its profit, which usually gives more room in a bad year.
- If price is what matters most to you: Merlin Properties trades on the lower P/E; check first whether that is an opportunity or a sign of a business that grows less.
Neither Merlin Properties nor Realty Income wins on everything, and owning both is also an option: spreading money across several companies or an index fund reduces what rides on each one.
How Merlin Properties and Realty Income make money
Merlin Properties (MRL)
Merlin Properties is a Spanish real estate investment trust earning rent from properties in Spain and Portugal. Offices in Madrid, Barcelona and Lisbon are its largest source of rent, followed by logistics warehouses and shopping centers. It is also developing data centers in Spain to lease to technology companies. Full Merlin Properties analysis.
Realty Income (O)
Realty Income is a REIT that buys retail and industrial properties and leases them on long-term net leases, where tenants cover taxes, insurance and upkeep. Tenants include grocery, convenience, pharmacy and home improvement chains such as Dollar General and Walgreens, in the United States and Europe. It pays dividends monthly. Full Realty Income analysis.
Frequently asked questions: Merlin Properties vs Realty Income
Is Merlin Properties or Realty Income the better stock?
Choosing between Merlin Properties and Realty Income depends on what you are looking for. Merlin Properties is growing faster right now, and Merlin Properties trades on the lower P/E. Fintols does not tell you whether to buy Merlin Properties or Realty Income: it shows you the differences so you can decide.
Which pays a higher dividend, Merlin Properties or Realty Income?
As of November 4, 2026, Realty Income yields 5.67% and Merlin Properties yields 1.86%. Also check how much of their profit Merlin Properties and Realty Income pay out: if it is more than they earn, it cannot last.
Which is more expensive, Merlin Properties or Realty Income?
On P/E, Realty Income (40.6x) is more expensive than Merlin Properties (8.0x) as of November 4, 2026. A higher P/E can be justified if earnings grow faster, so compare it with each company's growth in the table.
Can I own both Merlin Properties and Realty Income?
Yes. Many people spread their money across several companies, such as Merlin Properties and Realty Income, or use index funds so they do not depend on just one. If you are starting out, decide how much you want to invest and for how long before buying Merlin Properties or Realty Income.
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More companies like Merlin Properties and Realty Income: real estate stocks. Educational content about Merlin Properties and Realty Income, not investment advice.