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  "documentTitle": "Realty Income Corp (O)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-10-06 00:00:00",
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  "notes": "The slide uses a comparison frame to highlight the discrepancy between the subject properties' cap rates and the benchmark.",
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      "text": "Current asking prices for some Ryan's restaurants (one of O's largest tenants) is an 11% cap rate. In comparison, Realty Income trades at a 7.3% cap rate",
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      "kind": "callout",
      "text": "Current asking prices for some Ryan’s restaurants (one of O’s largest tenants) is an 11% cap rate. In comparison, Realty Income trades at a 7.3% cap rate",
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      "text": "cap rate: 11%",
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      "text": "Source: All listings with Colliers International.",
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      "text": "Table of Ryan's restaurant properties with location, square footage, price per sq ft, and cap rate.",
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      "text": "Properties Offered for Sale at a 11% Cap Rate",
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