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      <div>&#160;</div>
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif;"><strong>UNITED
        STATES</strong></font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif;"><strong>SECURITIES
          AND EXCHANGE COMMISSION</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Washington,
          D.C. 20549</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif;"><strong>FORM
          8-K</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif;"><strong>CURRENT
          REPORT</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif;"><strong>Pursuant
          to Section 13 or 15(d) of the Securities Exchange Act of
          1934</strong></font></div>
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          12, 2007</strong></font></div>
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          INCOME CORPORATION</strong></font></div>
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                    File Number)</font></div>
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                    Employer Identification No.)</font></div>
                </td>
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                <td valign="top" width="78%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;"><strong>600
                    La Terraza Boulevard</strong></font></div>
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                    California 92025</strong></font></div>
                </td>
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                    of Principal Executive Offices) (Zip
                    Code)</font></div>
                </td>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          741-2111</strong></font></div>
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          telephone number, including area code)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>N/A</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(Former
          Name or Former Address, if Changed Since Last Report)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Check
          the appropriate box below if the Form 8-K filing is intended to simultaneously
          satisfy the filing obligation of the registrant under any of the following
          provisions:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><font style="DISPLAY: inline;" face="Wingdings">o</font>
          Written communications
          pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><font style="DISPLAY: inline;" face="Wingdings">o</font>
          Soliciting material
          pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><font style="DISPLAY: inline;" face="Wingdings">o</font>
          Pre-commencement
          communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
          240.14d-2(b))</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><font style="DISPLAY: inline;" face="Wingdings">o</font>
          Pre-commencement
          communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
          240.13e-4(c))</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div><br>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Item
          5.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
          Year.</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">On
          December 12, 2007, the Board of Directors (the &#8220;Board&#8221;) of Realty Income
          Corporation </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(the
          &#8220;Company&#8221;) approved and adopted the Amended and Restated Bylaws of Realty Income
          Corporation.&#160;&#160;In compliance with the New York Stock Exchange&#8217;s
          requirement that all listed securities be eligible to participate in the
          Direct
          Registration System no later than January 1, 2008, the Amended and Restated
          Bylaws allow for the issuance, recordation and transfer of the Company&#8217;s
          securities by electronic or other means not involving the issuance of a
          certificate.&#160;&#160;The Amended and Restated Bylaws took effect upon
          adoption by the Board.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">The
          foregoing description of the Amended and Restated Bylaws is qualified in
          its
          entirety by reference to the full text of the Amended and Restated Bylaws,
          a
          copy of which are attached hereto as Exhibit 3.1 and are incorporated herein
          by
          reference.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>Item
          9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Financial Statements and Exhibits.</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">3.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Amended
          and Restated Bylaws of Realty Income Corporation</font></div><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
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        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>SIGNATURES</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
          to the requirements of the Securities Exchange Act of 1934, as amended, the
          Registrant has duly caused this report to be signed on its behalf by the
          undersigned hereunto duly authorized.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
  
              <tr>
                <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="23%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td align="left" colspan="4" valign="top" width="49%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">REALTY
                    INCOME CORPORATION</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="23%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" colspan="2" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="15%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Date:
                    December 12, 2007</font></div>
                </td>
                <td valign="top" width="23%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">By:&#160;</font></div>
                </td>
                <td align="left" colspan="2" valign="top" width="24%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif;">/s/
                    Michael R. Pfeiffer</font></div>
                </td>
                <td valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="23%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td colspan="2" valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Name:</font></td>
                <td align="left" colspan="2" valign="top" width="44%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Michael
                    R. Pfeiffer</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="23%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
                <td colspan="2" valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Title:</font></td>
                <td align="left" colspan="2" valign="top" width="44%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Executive
                    Vice President, General Counsel and Secretary</font></div>
                </td>
              </tr>
              <tr>
                <td valign="middle" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: arial;">&#160;</font></td>
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text: ric8k_1212amendbylaws.htm
  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
  December
          12, 2007
  Date
          of report (Date of earliest event reported)
  REALTY
          INCOME CORPORATION
  (Exact
          Name of Registrant as Specified in Charter)
  Maryland
  1-13374
  33-0580106
  (State
                    or Other Jurisdiction of Incorporation)
  (Commission
                    File Number)
  (IRS
                    Employer Identification No.)
  600
                    La Terraza Boulevard
  Escondido,
                    California 92025
  (Address
                    of Principal Executive Offices) (Zip
                    Code)
  (760)
          741-2111
  (Registrant's
          telephone number, including area code)
  N/A
  (Former
          Name or Former Address, if Changed Since Last Report)
  Check
          the appropriate box below if the Form 8-K filing is intended to simultaneously
          satisfy the filing obligation of the registrant under any of the following
          provisions:
  o
  Written communications
          pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o
  Soliciting material
          pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement
          communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
          240.14d-2(b))
  o
  Pre-commencement
          communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
          240.13e-4(c))
  Item
          5.03              
  Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
          Year.
  On
          December 12, 2007, the Board of Directors (the "Board") of Realty Income
          Corporation
  (the
          "Company") approved and adopted the Amended and Restated Bylaws of Realty Income
          Corporation.  In compliance with the New York Stock Exchange's
          requirement that all listed securities be eligible to participate in the
          Direct
          Registration System no later than January 1, 2008, the Amended and Restated
          Bylaws allow for the issuance, recordation and transfer of the Company's
          securities by electronic or other means not involving the issuance of a
          certificate.  The Amended and Restated Bylaws took effect upon
          adoption by the Board.
  The
          foregoing description of the Amended and Restated Bylaws is qualified in
          its
          entirety by reference to the full text of the Amended and Restated Bylaws,
          a
          copy of which are attached hereto as Exhibit 3.1 and are incorporated herein
          by
          reference.
  Item
          9.01              
  Financial Statements and Exhibits.
  (d)           Exhibits.
  3.1           Amended
          and Restated Bylaws of Realty Income Corporation
  SIGNATURES
  Pursuant
          to the requirements of the Securities Exchange Act of 1934, as amended, the
          Registrant has duly caused this report to be signed on its behalf by the
          undersigned hereunto duly authorized.
  REALTY
                    INCOME CORPORATION
  Date:
                    December 12, 2007
  By:
  /s/
                    Michael R. Pfeiffer
  Name:
  Michael
                    R. Pfeiffer
  Title:
  Executive
                    Vice President, General Counsel and Secretary