Realty Income Rises 0.89% on Sept 26 as $340M Volume Ranks 309th in Market Activity

On September 26, 2025, Realty Income (O) closed with a 0.89% increase, trading at a volume of $340 million, ranking 309th in market activity for the day. The real estate investment trust (REIT) showed resilience amid mixed sector performance, with its mid-cap positioning drawing attention from institutional investors.

Analysts noted that the stock’s modest gain aligned with recent sector trends, as REITs benefited from a flattening yield curve and renewed investor appetite for dividend-generating assets. The volume level, while elevated compared to its 30-day average, remained below critical thresholds that could trigger broader momentum shifts.

For back-testing purposes, the following parameters require clarification:

1. **Universe Definition**: Should the strategy include all U.S.-listed common stocks, a specific index (e.g., S&P 1500), or a regional/exchange-specific subset?

2. **Entry/Exit Pricing**: Will trades use close-to-close execution to avoid intraday gaps, or open-to-close timing?

3. **Transaction Costs**: Are commissions or bid-ask spreads to be factored in, or will the model assume frictionless execution?

4. **Corporate Actions**: Should adjusted prices account for splits and dividends, or will unadjusted data be used?

Clarifying these elements will ensure the back-test accurately reflects the strategy’s mechanics and historical performance.