content: UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
  
                       Washington, D.C.  20549
  
  
                              FORM 8-K
                              ========
  
  
                           CURRENT REPORT
  
               Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934
  
                  Date of Report:  December 19, 1995
                                   ================
  
                      Realty Income Corporation
                      =========================
       (Exact name of registrant as specified in its charter)
  
                              Delaware
                              ========
                      (State of Incorporation)
  
                               1-13318
                               =======
                      (Commission File Number)
  
                             33-0580106
                             ==========
                (IRS Employer Identification Number)
  
         220 West Crest Street, Escondido, California  92025
         ===================================================
        (Address of principal executive offices)  (Zip Code)
  
  Registrant's telephone number, including area code: (619)741-2111
                                                      =============
  
                           Not Applicable
                           ==============
    (Former name or former address, if changes since last report)
  
                                                       Page 1 of 11
                                         Exhibit Index is on Page 4
  <PAGE>
  ITEM 5.  OTHER EVENTS
  =====================
  
  Line of Credit
  - --------------
  
  On December 4, 1995, Realty Income Corporation obtained several
  modifications to its existing unsecured acquisition credit
  facility including an increase in funds available to $130 million
  from $100 million, a reduction in the initial interest rate to
  LIBOR + 1.25% from LIBOR + 1.375%, and an extension of the line
  to November 27, 1998 from November 29, 1997.  The modifications
  to the facility are effective December 4, 1995 and the entire
  $130 million capacity of the facility is currently available to
  the company for the acquisition of additional net leased retail
  properties.
  
  ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
  ==========================================
  
  The following exhibits are filed with this report.
  
  <TABLE>
  <CAPTION>
  <S>             <C>
  Exhibit No.     Description
  - -----------     -----------
  
  99.1            Press release announcing the modifications to the
                  acquisition credit facility
  
  99.2            Second Amendment to Revolving Credit Agreement
  </TABLE>
                                                       Page 2 of 11
  <PAGE>
                              SIGNATURE
  
  
  Pursuant to the requirements of the Securities and Exchange Act
  of 1934, the registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.
  
  
  
                      REALTY INCOME CORPORATION
  
  
  <TABLE>
  <S>                                      <C>
  (Signature and Title)                    /s/ GARY M. MALINO
  Date: December 19, 1995                  ------------------------
                                           Gary M. Malino
                                           Vice President and
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)
  </TABLE>
                                                       Page 3 of 11
  <PAGE>
                            EXHIBIT INDEX
  
  
  
  <TABLE>
  <CAPTION>
  Exhibit No.     Description                                  Page
  ===========     ===========                                  ====
  <S>             <C>                                          <C>
  99.1            Press release announcing the
                  modifications to the acquisition
                  credit facility.................................5
  
  99.2            Second Amendment to Revolving
                  Credit Agreement.............................6-11
  </TABLE>
  
                                                       Page 4 of 11
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4156}]
metadata_filer: {"company-data": {"conformed-name": "REALTY INCOME CORP", "cik": "0000726728", "assigned-sic": "6798", "irs-number": "330580106", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13374", "film-number": "95602621"}, "business-address": {"street1": "220 W CREST ST", "city": "ESCONDIDO", "state": "CA", "zip": "92025", "phone": "6197412111"}, "mail-address": {"street1": "220 WEST CREST ST", "city": "ESCONDIDO", "state": "CA", "zip": "92025"}}
text: UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
  
                       Washington, D.C.  20549
  
                              FORM 8-K
                              ========
  
                           CURRENT REPORT
  
               Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934
  
                  Date of Report:  December 19, 1995
                                   ================
  
                      Realty Income Corporation
                      =========================
       (Exact name of registrant as specified in its charter)
  
                              Delaware
                              ========
                      (State of Incorporation)
  
                               1-13318
                               =======
                      (Commission File Number)
  
                             33-0580106
                             ==========
                (IRS Employer Identification Number)
  
         220 West Crest Street, Escondido, California  92025
         ===================================================
        (Address of principal executive offices)  (Zip Code)
  
  Registrant's telephone number, including area code: (619)741-2111
                                                      =============
  
                           Not Applicable
                           ==============
    (Former name or former address, if changes since last report)
  
                                                       Page 1 of 11
                                         Exhibit Index is on Page 4
  ITEM 5.  OTHER EVENTS
  =====================
  
  Line of Credit
  - --------------
  
  On December 4, 1995, Realty Income Corporation obtained several
  modifications to its existing unsecured acquisition credit
  facility including an increase in funds available to $130 million
  from $100 million, a reduction in the initial interest rate to
  LIBOR + 1.25% from LIBOR + 1.375%, and an extension of the line
  to November 27, 1998 from November 29, 1997.  The modifications
  to the facility are effective December 4, 1995 and the entire
  $130 million capacity of the facility is currently available to
  the company for the acquisition of additional net leased retail
  properties.
  
  ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
  ==========================================
  
  The following exhibits are filed with this report.
  Exhibit No.     Description
  - -----------     -----------
  
  99.1            Press release announcing the modifications to the
                  acquisition credit facility
  
  99.2            Second Amendment to Revolving Credit Agreement
  Page 2 of 11
  SIGNATURE
  
  Pursuant to the requirements of the Securities and Exchange Act
  of 1934, the registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.
  
                      REALTY INCOME CORPORATION
  (Signature and Title)                    /s/ GARY M. MALINO
  Date: December 19, 1995                  ------------------------
                                           Gary M. Malino
                                           Vice President and
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)
  Page 3 of 11
  EXHIBIT INDEX
  Exhibit No.     Description                                  Page
  ===========     ===========                                  ====
  99.1            Press release announcing the
                  modifications to the acquisition
                  credit facility.................................5
  
  99.2            Second Amendment to Revolving
                  Credit Agreement.............................6-11
  Page 4 of 11