Realty Income Corporation
Director, Strategy & Insights (Credit Research)
Realty Income Corporation, San Diego, California, United States, 92189
Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose:
building enduring relationships and brighter financial futures.
This guiding principle serves as a beacon for our team, influencing every action we take. Realty Income’s employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. Realty Income is committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day. Position Summary: The Director of Credit, Strategy & Insights assists senior leaders within the team with the company’s domestic and international portfolio, including portfolio optimization, investment underwriting, investment monitoring and risk management, and reporting. The Director can function as a contributor while also starting to take personal responsibility for the coverage of specific clients and industries. These responsibilities are carried out in close collaboration with other investment functions within the company, particularly Acquisitions, Asset Management, Development, Predictive Analytics, Capital Markets, and Investor Relations. An important aspect of this role is to assist senior leaders in the department to help the company optimize the existing portfolio in concert with these functions. Key Responsibilities: Underwriting: As part of underwriting, reviews performance of existing investments (e.g., store P&Ls), and communicates results with senior leaders of the team. This will play an important role to refine understanding of client strategies and Realty Income’s investment thesis. Communicates at a high level, through both written and verbal communication, to support recommendations on investments to IC. Utilizes internal and external data to perform an in-depth analysis of Realty Income’s existing portfolio, as well as acquisition candidates. Understands the historical context for industry/client financial performance, and works with senior leaders to create a 5-year expected case forecast that can be flexed using the department’s standard scenarios/shocks for recession, inflation, interest rate movements, liquidity shocks, etc. Analyzes companies that face solvency risk. Maintains up-to-date models for key comps for each underwritten and monitored investment, checks monthly for public company updates to consensus, and publishes via standard department reports changes to consensus estimates (and NTM EBTR/Rent). Responsible for the timeliness, accuracy, and quality of own underwriting and reports. Incorporates third-party research into own and team’s work. Investment Monitoring and Risk Management: Assists in proactively monitoring news flow from the department to keep senior leaders appraised of all material events or potential risks to RI’s portfolio. Works closely with senior leaders on the team in reviewing the performance of all existing investments under coverage monthly (e.g., annual financials, quarterly financials, investor day materials, third-party research, store P&Ls, predictive analytics, foot traffic) and assists in memorializing conclusions using a standard department report shared with the Investment Committee, Acquisitions, Asset Management, and Development to update or refine understanding of investment thesis, investment insights, client strategies, and Realty Income’s investment thesis. Assists senior leaders in the department with updates for company earnings, company news, and industry news for investments in team’s coverage, synthesizing these for quarterly earnings materials. Provide updates to senior leaders on the team based on the databases of industry unit count, sales, same-store sales and margins. Reporting: Assists senior leaders on the team in producing standard department reports weekly, monthly, and quarterly for own and team’s coverage, with a focus on actionable insights and implications for our portfolio and investment strategy:
News summaries. Notable third-party research summaries. Earnings summaries. Updates to company models and store P&Ls. Watchlist & Potential Watchlist. Other materials as defined on an ad hoc basis.
Assists senior leaders on the team to produce standard department reports quarterly.
Reporting package for earnings. Certification of reporting package as Preparer/Reviewer/Approver. Certification of tools used to create reporting package as Preparer/Reviewer/Approver. Audit certification for change management for tools and reports used for reporting package.
Leadership: Helps with the comprehensive analysis of companies’ financials, store-level P&L’s, and industry dynamics using a combination of reported financials, third-party news and research, meetings with tenants, interviews with industry experts, and attendance at industry conferences/events. Other: Continues to improve processes and efficiencies within the department and company. Performs other duties as assigned. Qualifications: Bachelor’s Degree required; Graduate degree a plus. 5+ years of experience in analyzing private or public company’s financials. In the process of obtaining or holding a Chartered Financial Analyst (CFA) designation a plus. Equity research or credit research experience preferred. Experience writing detailed reports conveying one’s opinion on various financial companies/industries. Experience interviewing and presenting to senior management preferred. Extensive knowledge of financial statement analysis. Strong background in Excel, CapIQ, Bloomberg, along with PC skills (Outlook, Word, and Power Point). What you will get in return: The base salary for this role is in the range of $102,892 - $164,841. You may be eligible for an annual discretionary bonus and an annual discretionary stock award, (dependent on date of hire) to be discussed during the initial phone interview. Base salary and total compensation package determined by the candidate's experience, knowledge, education, skills, performance, and abilities, as well as internal equity, company performance, and alignment with market data. Most US based full-time and part-time roles come with flexible schedules. We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents. Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation. Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with 12 PTO hours every month; in addition to 12 paid holidays, and paid volunteer time. Realty Income’s purpose is to build enduring relationships and brighter financial futures, and this starts with
you!
#J-18808-Ljbffr
building enduring relationships and brighter financial futures.
This guiding principle serves as a beacon for our team, influencing every action we take. Realty Income’s employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. Realty Income is committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day. Position Summary: The Director of Credit, Strategy & Insights assists senior leaders within the team with the company’s domestic and international portfolio, including portfolio optimization, investment underwriting, investment monitoring and risk management, and reporting. The Director can function as a contributor while also starting to take personal responsibility for the coverage of specific clients and industries. These responsibilities are carried out in close collaboration with other investment functions within the company, particularly Acquisitions, Asset Management, Development, Predictive Analytics, Capital Markets, and Investor Relations. An important aspect of this role is to assist senior leaders in the department to help the company optimize the existing portfolio in concert with these functions. Key Responsibilities: Underwriting: As part of underwriting, reviews performance of existing investments (e.g., store P&Ls), and communicates results with senior leaders of the team. This will play an important role to refine understanding of client strategies and Realty Income’s investment thesis. Communicates at a high level, through both written and verbal communication, to support recommendations on investments to IC. Utilizes internal and external data to perform an in-depth analysis of Realty Income’s existing portfolio, as well as acquisition candidates. Understands the historical context for industry/client financial performance, and works with senior leaders to create a 5-year expected case forecast that can be flexed using the department’s standard scenarios/shocks for recession, inflation, interest rate movements, liquidity shocks, etc. Analyzes companies that face solvency risk. Maintains up-to-date models for key comps for each underwritten and monitored investment, checks monthly for public company updates to consensus, and publishes via standard department reports changes to consensus estimates (and NTM EBTR/Rent). Responsible for the timeliness, accuracy, and quality of own underwriting and reports. Incorporates third-party research into own and team’s work. Investment Monitoring and Risk Management: Assists in proactively monitoring news flow from the department to keep senior leaders appraised of all material events or potential risks to RI’s portfolio. Works closely with senior leaders on the team in reviewing the performance of all existing investments under coverage monthly (e.g., annual financials, quarterly financials, investor day materials, third-party research, store P&Ls, predictive analytics, foot traffic) and assists in memorializing conclusions using a standard department report shared with the Investment Committee, Acquisitions, Asset Management, and Development to update or refine understanding of investment thesis, investment insights, client strategies, and Realty Income’s investment thesis. Assists senior leaders in the department with updates for company earnings, company news, and industry news for investments in team’s coverage, synthesizing these for quarterly earnings materials. Provide updates to senior leaders on the team based on the databases of industry unit count, sales, same-store sales and margins. Reporting: Assists senior leaders on the team in producing standard department reports weekly, monthly, and quarterly for own and team’s coverage, with a focus on actionable insights and implications for our portfolio and investment strategy:
News summaries. Notable third-party research summaries. Earnings summaries. Updates to company models and store P&Ls. Watchlist & Potential Watchlist. Other materials as defined on an ad hoc basis.
Assists senior leaders on the team to produce standard department reports quarterly.
Reporting package for earnings. Certification of reporting package as Preparer/Reviewer/Approver. Certification of tools used to create reporting package as Preparer/Reviewer/Approver. Audit certification for change management for tools and reports used for reporting package.
Leadership: Helps with the comprehensive analysis of companies’ financials, store-level P&L’s, and industry dynamics using a combination of reported financials, third-party news and research, meetings with tenants, interviews with industry experts, and attendance at industry conferences/events. Other: Continues to improve processes and efficiencies within the department and company. Performs other duties as assigned. Qualifications: Bachelor’s Degree required; Graduate degree a plus. 5+ years of experience in analyzing private or public company’s financials. In the process of obtaining or holding a Chartered Financial Analyst (CFA) designation a plus. Equity research or credit research experience preferred. Experience writing detailed reports conveying one’s opinion on various financial companies/industries. Experience interviewing and presenting to senior management preferred. Extensive knowledge of financial statement analysis. Strong background in Excel, CapIQ, Bloomberg, along with PC skills (Outlook, Word, and Power Point). What you will get in return: The base salary for this role is in the range of $102,892 - $164,841. You may be eligible for an annual discretionary bonus and an annual discretionary stock award, (dependent on date of hire) to be discussed during the initial phone interview. Base salary and total compensation package determined by the candidate's experience, knowledge, education, skills, performance, and abilities, as well as internal equity, company performance, and alignment with market data. Most US based full-time and part-time roles come with flexible schedules. We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents. Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation. Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with 12 PTO hours every month; in addition to 12 paid holidays, and paid volunteer time. Realty Income’s purpose is to build enduring relationships and brighter financial futures, and this starts with
you!
#J-18808-Ljbffr