Key Takeaways Realty Income has gained 11.6% YTD, outperforming retail REIT peers but trailing the S&P 500.Expansion in Europe, strong occupancy of 98.6% and steady dividend hikes support growth.Valuation sits below the industry average but above its one-year median, prompting caution.Realty Income (O) has delivered a solid 11.6% year-to-date (YTD) gain, sparking debate over whether the REIT still offers an appealing valuation or if investors should wait for a better entry point. The stock has outperformed ...