Is Realty Income Corporation a Buy?

Net-lease real estate investment trust Realty Income (NYSE: O) pays a 4.5% dividend yield in monthly installments, making it a favorite of many income-seeking investors. However, while the market has been hitting record highs recently, Realty Income is down by more than 6% over the past few weeks and by about 20% since its peak in mid-2016. Is the stock a bargain, or could there be more downside ahead?

Realty Income focuses on freestanding retail properties, but also has smaller holdings in office, industrial, and agricultural real estate. As of the second quarter of 2017, Realty Income owns just over 5,000 properties located in 49 states.

Interest rate fluctuations and retail headwinds have put pressure on Realty Income's stock price. Image source: Getty Images.

Source: Fool.com