Superior Stability and Dividend Growth
Grocery (10.4% of ABR)
U.S. Grocery Market Share(1)
EXPOSURE TO TOP OPERATORS IN AN ESSENTIAL,
23%
Realty Income's top two U.S. grocery
clients control 32% of U.S. grocery
market share
9%
5%
4%
3%
3%
E-COMMERCE RESISTANT INDUSTRY
53%
66%
Kroger
COSTCO
WHOLESALE
Ahold
Delhaize
DOLLAR GENERAL
DOLLAR TREE
amazon
Other
Source:
Walmart
(1) Wells Fargo Securities Research,2022.
(2) Kantar World Panel for 12 weeks ending 4/17/2022.
Food-at-Home as a % of Total Food
Expenditure(3)
REALTY
INCOME
U.K. Grocery Market Share(2)
Realty Income's top two U.K. grocery
clients control ~42% of U.K. grocery
market share
18%
8%
5%
■Big 4
Discounters
■Convenience
■ Premium
■"Pure play" online
2%
TESCO
Sainsbury's
ASDA
SPAR
Waitrose
Iceland.co.uk
ocado
amazon
LIDL
Morrisons
POSITIVE OUTLOOK ON THE SPANISH GROCERY INDUSTRY:
Food-at-home spending more prevalent,
online grocery spending less common
66%
61%
52%
Source:
(3) Statista.com, Gov.uk, USDA ERS.
Spain
(4) CBRE, Statista.com, Multichannelmerchant.com, Kantar.
4.5%
Pre-COVID Online Grocery
Penetration (4)
7.4%
1.3%
UK
US
Spain
US
UK
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