Realty Income's weighted average lease term is 8.8 years, which gives the company dependable cash flow well into the future at any given time. And since approximately 85% of Realty Income's leases include built-in rent escalators that are either tied to inflation or fixed increases, the company generates adjusted funds from operations (AFFO) per share growth right off the bat. A fair price to pay for quality Realty Income isn't the cheapest retail-oriented REIT, but a premium is to be expected for a stock with a storied track record.