Wall Street turned on Realty Income (NYSE: O) very quickly when the historically low-interest-rate environment went away. In fact, with interest rates rising at a shockingly rapid clip over the past year or two, investors seemed to be running for the hills here. The bellwether net lease real estate investment trust's (REIT's) shares fell by more than a third from their highwater mark at one point. For investors that think in decades, though, this pullback could be a buying opportunity.

As a REIT, Realty Income buys properties and leases them out to tenants. However, it uses a net lease model, which means its tenants pay for most property-level operating costs. The risk is that its properties are virtually all single-tenant, so each individual property comes with material risk. However, spread across a large enough portfolio, the risk is very low. Realty Income owns more than 13,000 properties. That's a huge number.

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Source Fool.com