Realty Income Corporation (O)

135th Common Stock Monthly Dividend Increase Declared by Realty IncomeJune 9, 2026 4:05 PM
PR Newswire (US) SAN DIEGO, June 9, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced it has declared an increase in its common stock monthly cash dividend to $0.2710 per share from $0.2705 per share. The dividend is payable on July 15, 2026, to stockholders of record as of June 30, 2026. The new monthly dividend represents an annualized dividend amount of $3.252 per share as compared to the prior annualized dividend amount of $3.246 per share."Our portfolio's consistent operating performance supports our ability to deliver stockholders reliable monthly dividends that grow over time," said Sumit Roy, Realty Income's President and Chief Executive Officer. "Today's announcement marks the 135th dividend increase since Realty Income's listing on the New York Stock Exchange in 1994, a reflection of the durability of our platform and our disciplined approach to delivering consistent, long-term growth."About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of March 31, 2026, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 672 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business, strategy, plans, and the intentions of management; joint ventures, partnerships and portfolio including management thereof; our platform; growth and capital strategies; and dividends, including the amount, timing and payments of dividends. Forward-looking statements are subject to risks, uncertainties, and assumptions about us which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms, structure and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, private capital, credit and mezzanine investments, and joint ventures or co-investment ventures including solvency, defaults under leases, bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the threat and outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release might not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events. View original content to download multimedia:https://www.prnewswire.com/news-releases/135th-common-stock-monthly-dividend-increase-declared-by-realty-income-302795588.htmlSOURCE Realty Income Corporation Original: 135th Common Stock Monthly Dividend Increase Declared by Realty Income

Realty Income to Present at Nareit's REITweek: 2026 Investor ConferenceMay 28, 2026 4:05 PM
PR Newswire (US) SAN DIEGO, May 28, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that Sumit Roy, Realty Income's President and Chief Executive Officer, will participate in a moderated company presentation at Nareit's REITweek: 2026 Investor Conference on Wednesday, June 3, 2026, at 10:15 a.m. EDT/ 7:15 a.m. PDT. The presentation will be broadcast live via webcast and can be accessed through the Investor Relations section of Realty Income's website at Investor Relations – Upcoming Events. A replay of the webcast will be available on the company's website shortly following the event and archived for approximately 30 days.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of March 31, 2026, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 671 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com. Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (www.realtyincome.com/investors), press releases, SEC filings and public conference calls and webcasts.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business, strategy, plans, and the intentions of management; joint ventures, partnerships, and portfolio including management thereof; our platform; growth and capital strategies including our private capital business, investment pipeline and intentions to acquire or dispose of properties (including geographies, timing, partners, clients and terms); re-leases, re-development and speculative development of properties and expenditures related thereto; operations and results; our share repurchase program; settlement of shares of common stock sold pursuant to forward sale confirmations under our At-the-Market ("ATM") program; dividends, including the amount, timing and payments of dividends; and macroeconomic and other business trends, including interest rates and trends in the market for long-term leases of freestanding, single-client properties. Forward-looking statements are subject to risks, uncertainties, and assumptions about us which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms, structure and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, private capital, credit and mezzanine investments, and joint ventures or co-investment ventures, including solvency, defaults under leases, bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the threat and outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; and the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events. View original content to download multimedia:https://www.prnewswire.com/news-releases/realty-income-to-present-at-nareits-reitweek-2026-investor-conference-302784943.htmlSOURCE Realty Income Corporation Original: Realty Income to Present at Nareit's REITweek: 2026 Investor Conference

Realty Income Announces Operating Results for the Three Months Ended March 31, 2026May 6, 2026 4:05 PM
PR Newswire (US) SAN DIEGO, May 6, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced operating results for the three months ended March 31, 2026. All per share amounts presented in this press release are on a diluted per common share basis unless stated otherwise. COMPANY HIGHLIGHTS:For the three months ended March 31, 2026:Net income available to common stockholders was $311.8 million, or $0.33 per shareAdjusted Funds from Operations ("AFFO") per share increased 6.6% to $1.13 per share, compared to the three months ended March 31, 2025Invested $2.8 billion; our Pro-Rata Share was $2.6 billion at an initial weighted average cash yield of 7.1%Net Debt to Annualized Pro Forma Adjusted EBITDAre was 5.2xAchieved a rent recapture rate of 103.4% on properties re-leasedFormed a strategic partnership with Apollo, with initial investment of $1.0 billion in existing portfolio of retail assetsEvents subsequent to March 31, 2026:In April 2026, issued $800 million of 4.750% senior unsecured notes due April 2033. In connection with the offering, we executed a $500 million U.S. Dollar-to-Euro 7-year cross currency swap, resulting in approximately €436 million of proceeds and a blended coupon rate of 4.16%.CEO Comments"Our first quarter results underscore the strength and resiliency of our global investment and operating platforms. Importantly, we demonstrated significant progress towards a key strategic goal of diversifying our sources of permanent equity beyond the public markets. These new private capital vehicles allow us to grow with deep and stable pockets of capital, enhancing our financial returns for shareholders and expanding our ability to invest in an ever-broadening range of high-quality net lease opportunities and geographies," said Sumit Roy, Realty Income's Chief Executive Officer. "The partnerships with Apollo and GIC, together with the completion of the $1.7 billion cornerstone capital raise for our U.S. Core Plus fund during the quarter, represent very meaningful advancements in our private capital strategy and establish new programmatic capital relationships with leading institutions.During the quarter, we invested approximately $2.8 billion, $2.6 billion of which was our share, and our pipeline remains very active. As a result, we are increasing our full-year investment guidance to $9.5 billion from $8 billion.Given the strong momentum across the business, we are increasing our 2026 AFFO per share guidance range to $4.41 to $4.44, reflecting projected annual per share growth of 3.0% to 3.7%. Our outlook is a testament to the unmatched scale, track record and operating capabilities of our global net lease enterprise."Select Financial ResultsThe following summarizes our select financial results (dollars in millions, except per share data):
Three months ended
March 31,
20262025Total revenue$1,548.7$1,380.5Net income available to common stockholders (1)$311.8$249.8Net income per share$0.33$0.28Funds from operations available to common stockholders (FFO) (2)$993.6$937.7FFO per share$1.06$1.05Normalized funds from operations available to common stockholders(Normalized FFO) (2)$1,004.4$937.9Normalized FFO per share$1.07$1.05Adjusted funds from operations available to common stockholders(AFFO) (2)$1,057.6$949.7AFFO per share$1.13$1.06

(1)The calculation to determine net income available to common stockholders includes provisions for impairment, gain on sales of real estate, and foreign currency gain and loss. These items can vary from quarter to quarter and can significantly impact net income available to common stockholders and period to period comparisons.(2)FFO, Normalized FFO, and AFFO are non-GAAP financial measures. Normalized FFO is based on FFO and adjusted to exclude merger, transaction, and other costs, net and AFFO further adjusts Normalized FFO for unique revenue and expense items. Please see the Glossary for our definitions and explanations of how we utilize these metrics. Please see pages 9 and 10 herein for reconciliations to the most directly comparable GAAP measure.Dividend IncreasesIn March 2026, we announced the 114th consecutive quarterly dividend increase, which is the 134th increase since our listing on the New York Stock Exchange ("NYSE") in 1994. The annualized dividend amount as of March 31, 2026 was $3.246 per share. The amount of monthly dividends paid per share increased 1.8% to $0.810 in the three months ended March 31, 2026, as compared to $0.796 during the three months ended March 31, 2025, representing 71.7% of our diluted AFFO per share of $1.13 during the three months ended March 31, 2026.Real Estate Portfolio UpdateAs of March 31, 2026, we owned or held interests in 15,571 properties, which were leased to 1,786 clients doing business in 92 industries. Our diversified portfolio of commercial properties under long-term, net lease agreements is actively managed with a weighted average remaining lease term of approximately 8.7 years. Our portfolio of commercial real estate has historically provided dependable rental revenue supporting the payment of monthly dividends. As of March 31, 2026, portfolio occupancy was 98.9% with 172 properties available for lease or sale, as compared to 98.9% as of December 31, 2025 and 98.5% as of March 31, 2025. Our property-level occupancy rates exclude properties with ancillary leases only, such as cell towers and billboards, and properties with possession pending, and include properties owned by unconsolidated joint ventures. Below is a summary of our portfolio activity for the period indicated below:Changes in OccupancyThree months ended March 31, 2026
Properties available for lease as of December 31, 2025                                                                                     173Lease expirations (1)                                                                                                    320Re-leases to same client                                                                                                    (220)Re-leases to new client                                                                                                    (23)Vacant dispositions(78)

Properties available for lease as of March 31, 2026                                                                         172

(1)Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the period indicated above.During the three months ended March 31, 2026, the new Annualized Base Rent on re-leased units was $73.3 million, as compared to the previous annual rent of $70.9 million on the same units, representing a rent recapture rate of 103.4% on the re-leased units. Please see the Glossary for our definition of Annualized Base Rent.Investment Summary
The following table summarizes our investments in the U.S. and Europe for the period indicated below (dollars in millions):
Three months ended March 31, 2026
InvestmentPro-Rata
Share (1)
Weighted
Average Term
(Years) (1)
Number of
Properties  Acquisitions





U.S. wholly-owned$             372.4$             372.4
10.0
83U.S. Core Plus Fund171.465.9
9.7
21Europe wholly-owned756.1756.1
5.8
42Non-wholly owned(2)280.1238.5
14.1
6Total real estate acquisitions(3)$           1,580.0$           1,432.9
8.3
152Initial weighted average cash yield(4)
6.7 %



Real estate properties under developmentU.S. wholly-owned$                30.3$                30.317.719Europe wholly-owned
34.1
34.114.88Non-wholly owned(2)
91.4
90.89.615Total real estate properties under







development(3)$             155.8$             155.212.442Initial weighted average cash yield(4)
7.4 %

Other investments(5)



U.S. wholly-owned$             719.8$             719.83.6—Europe wholly-owned251.7251.73.8—Other wholly-owned60.060.02.0—Total other investments$           1,031.5$           1,031.53.5—Initial weighted average cash yield(4)
7.8 %

Total investments$           2,767.3$           2,619.66.5194Initial weighted average cash yield(4)
7.1 %

Supplementary Information:



Total U.S. and other volume
$           1,333.5

Initial weighted average cash yield(4)
7.3 %

Total Europe volume
$           1,286.1

Initial weighted average cash yield(4)
7.0 %

Investment Grade Clients(6)
41 %



(1)Reflects adjustments for our Pro-Rata Share based on our proportionate economic ownership of our joint ventures (which adds our economic ownership percentage of unconsolidated entities and deducts noncontrolling interests). Please see the Glossary for our definition of Pro-Rata Share for more information.(2)Non-wholly owned represents U.S. and European investments not 100% owned by Realty Income, excluding the U.S. Core Plus Fund.(3)For the three months ended March 31, 2026, our clients occupying the new properties are 63.9% retail, 33.6% industrial, and 2.5% other property types based on Cash Income. Please see the Glossary for our definition of Cash Income.(4)Initial Weighted Average Cash Yield is a supplemental operating measure. Cash Income used in the calculation of Initial Weighted Average Cash Yield for investments for the three months ended March 31, 2026 includes $2.4 million received as settlement credits related to the reimbursement of free rent period. Please see the Glossary for our definitions of Initial Weighted Average Cash Yield and Cash Income.(5)Represents various loans across the U.S. and Europe as well as construction loans in Mexico related to Realty Income's strategic partnership with GIC.(6)Represents approximate percentage of annualized cash income generated by investments from Investment Grade Clients at the date of acquisition. Please see the Glossary for our definition of Investment Grade Clients.Same Store Rental Revenue
The following summarizes our same store rental revenue for 14,738 properties under lease for the three months ended March 31, 2026 and 2025 (dollars in millions):






Three months ended
March 31,


2026
2025
% IncreaseSame Store Rental Revenue                 $                      1,192.6
$                       1,182.6
0.8 %For purposes of comparability, Same Store Rental Revenue is presented on a constant currency basis using the applicable exchange rate as of March 31, 2026. Same Store Rental Revenue also includes our Pro-Rata Share of rental revenue from properties owned by unconsolidated joint ventures and amounts attributable to noncontrolling interests based on their respective ownership percentages. Please see the Glossary to see definitions of our Same Store Pool and Same Store Rental Revenue.Property DispositionsThe following summarizes our property dispositions (dollars in millions):


Three months ended March 31, 2026Properties sold
97Net sales proceeds$188.0Gain on sales of real estate$35.6Liquidity and Capital MarketsLiquidity
As of March 31, 2026, we had $3.9 billion total available liquidity at our Pro-Rata Share(1), comprised of the components summarized below (dollars in millions):Cash and cash equivalents (2)$388.4Availability under credit facilities (3)
2,714.0Unsettled At-the-Market ("ATM") forwards
1,218.1Less: commercial paper borrowings
(414.9)Total available liquidity at our Pro-Rata Share$3,905.6

(1)Please see the Glossary for our definition of Pro-Rata Share for more information.(2)Reflects adjustments for our share based on our proportionate economic ownership of our joint ventures. Calculated as cash and cash equivalents per the consolidated balance sheet of $373.5 million, plus our Pro-Rata Share of unconsolidated entities cash of $23.6 million, less adjustments allocable to noncontrolling interests of $8.7 million.(3)Represents our availability under the Realty Income revolving credit facilities ("RI Revolving Credit Facilities") with a total capacity of $4.0 billion and our Pro-Rata Share of availability under the Fund Revolving Credit Facilities with a total capacity of $1.38 billion.Capital RaisingAs of May 6, 2026, approximately 23.6 million shares of common stock subject to ATM forward sale agreements remain unsettled, of which 2.8 million shares were sold in April 2026, representing approximately $1.4 billion in expected net proceeds and a weighted average initial gross price of $60.33 per share. ATM net sale proceed amounts assume full physical settlement of all outstanding shares of common stock, subject to such forward sale agreements and certain assumptions made with respect to settlement dates.In April 2026, we issued $800.0 million of 4.750% senior unsecured notes due April 2033 (the "April 2033 Notes"). The public offering price for the April 2033 Notes was 98.261% of the principal amount for an effective yield to maturity of 5.047%. Interest is paid semi-annually. In connection with the issuance, we executed a $500 million U.S. Dollar-to-Euro 7-year cross currency swap, resulting in approximately €436 million of proceeds and an effective fixed-rate, Euro-denominated yield to maturity of approximately 4.07% and coupon rate of 3.81%. On a combined basis, the Notes and related swap resulted in an effective blended yield to maturity of approximately 4.44% and blended coupon rate of 4.16%.In March 2026, we established our Managed Insurance and Retirement Annuity investment platform as a vehicle to pursue various co-investment opportunities with institutional investors. In connection with this initiative, on March 31, 2026, we closed a $1.0 billion strategic investment from Apollo in exchange for a 49% interest in a newly formed joint venture which owns an existing portfolio of 492 retail properties contributed by the Company.In March 2026, we closed a $693.9 million unsecured term loan due January 2036 with an affiliate of The Goldman Sachs Group, Inc. at a 4.91% fixed rate and executed a cross-currency swap on $500 million of proceeds for approximately €431 million, achieving an effective blended borrowing rate of 4.34%.On January 1, 2026, within our U.S. Core Plus Fund, we called $638.0 million of capital from third-party investors and redeemed $408.2 million of the Company's units, resulting in an indirect ownership of 38.5% in the Fund. On April 1, 2026, we called an additional $310.0 million of capital from third-party investors and redeemed $183.8 million of the Company's units, resulting in an indirect ownership of 26.8% in the Fund.In January 2026, we issued $862.5 million principal amount of 3.500% convertible senior notes due January 2029 in a private offering, resulting in net proceeds of approximately $845.1 million. We used approximately $101.9 million of the net proceeds to repurchase approximately 1.8 million shares of our common stock concurrently with the pricing of the offering.GuidanceSummarized below are approximate estimates of the key components of our 2026 earnings guidance (with 2026 actual results for comparison):
Revised 2026
GuidancePrior 2026 
Guidance(1)YTD Actuals at
March 31, 2026Net income per share(2)$1.60 - $1.63$1.65 - $1.69$0.33Real estate depreciation per share$2.65$2.68$0.67Other adjustments per share(3)$0.16$0.05$0.13AFFO per share$4.41 - $4.44$4.38 - $4.42$1.13Same store rent growth1.0% - 1.3%1.0% - 1.3%0.8 %OccupancyApprox 98.5%Approx 98.5%98.9 %Cash G&A expenses (% of total gross asset value)(4)(5)20 - 23 bps20 - 23 bps6 bpsProperty expenses (non-reimbursable) (% of total revenue)(6)Approx 1.5%Approx 1.5%1.3 %Income tax expenses                                             $100 - $110 million$100 - $110 million$26 millionInvestment volume (at 100%)                                         $9.5 billion $8.0 billion$2.8 billionLease termination income                           $45 - $50 million$30 - $40 million$40 million

(1)As issued on February 24, 2026.(2)Net income per share excludes future impairment and foreign currency or derivative gains or losses due to the inherent unpredictability of forecasting these items.(3)Includes net adjustments for gains or losses on sales of properties, impairments, and merger, transaction, and other non-recurring costs.(4)Cash G&A represents 'General and administrative' expenses as presented in our consolidated statements of income, less share-based compensation costs.(5)Please see the Glossary for our definition of Gross Asset Value.(6)Total revenue excludes client reimbursements.Conference Call Information
In conjunction with the release of our operating results, we will host a conference call on May 6, 2026 at 2:00 p.m. PDT to discuss the operating results. To access the conference call, dial (833) 816-1264 (United States) or (412) 317-5632 (International). When prompted, please ask for the Realty Income conference call.A telephone replay of the conference call can also be accessed by calling (855) 669-9658 (United States) or (412) 317-0088 (International) and entering the conference ID 5227110. The telephone replay will be available through May 13, 2026.A live webcast will be available in listen-only mode by clicking on the webcast link on the company's home page at www.realtyincome.com. A replay of the conference call webcast will be available approximately one hour after the conclusion of the live broadcast. No access code is required for this replay.Supplemental Materials
Supplemental Operating and Financial Data for the three months ended March 31, 2026 is available on our corporate website at www.realtyincome.com/investors/quarterly-and-annual-results.About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of March 31, 2026, we have a portfolio of over 15,500 properties in all 50 U.S. states, the United Kingdom ("U.K."), and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 670 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com. Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (www.realtyincome.com/investors), press releases, SEC filings and public conference calls and webcasts.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business, strategy, plans, and the intentions of management; joint ventures, partnerships, and portfolio including management thereof; our platform; growth and capital strategies including our private capital business, investment pipeline and intentions to acquire or dispose of properties (including geographies, timing, partners, clients and terms); re-leases, re-development and speculative development of properties and expenditures related thereto; operations and results; guidance; our share repurchase program; settlement of shares of common stock sold pursuant to forward sale confirmations under our ATM program; dividends, including the amount, timing and payments of dividends; and macroeconomic and other business trends, including interest rates and trends in the market for long-term leases of freestanding, single-client properties. Forward-looking statements are subject to risks, uncertainties, and assumptions about us which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms, structure and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, private capital, credit and mezzanine investments, and joint ventures or co-investment ventures, including solvency, defaults under leases, bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the threat and outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; and the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events.CONSOLIDATED STATEMENTS OF INCOME(in thousands, except per share amounts) (unaudited) 
Three months ended March 31,

2026
2025REVENUE



Rental (including reimbursements) (1)$1,440,817$1,313,057Interest income on financing receivables
32,130
32,635Interest and dividend income on loans and preferred equity investments
70,110
34,736Other
5,670
77Total revenue
1,548,727
1,380,505EXPENSES



Depreciation and amortization
630,275
608,935Interest
291,940
268,374Property (including reimbursements)
116,843
106,681General and administrative
58,885
44,044Provisions for impairment
129,268
116,589Merger, transaction, and other costs, net
10,787
279Total expenses
1,237,998
1,144,902Gain on sales of real estate
35,642
22,537Foreign currency and derivative loss, net
(17,020)
(2,545)Equity in earnings of unconsolidated entities
2,669
4,357Other income, net
15,110
7,167Income before income taxes
347,130
267,119Income taxes
(26,195)
(15,657)Net income
320,935
251,462Net income attributable to noncontrolling interests
(9,169)
(1,647)Net income available to common stockholders$311,766$249,815Funds from operations available to common stockholders (FFO)$993,601$937,655Normalized funds from operations available to common stockholders (Normalized FFO)$1,004,388$937,934Adjusted funds from operations available to common stockholders (AFFO)$1,057,553$949,716Amounts available to common stockholders per common share:



Net income per common share, basic and diluted$0.33$0.28FFO per common share:



Basic$1.07$1.05Diluted$1.06$1.05Normalized FFO per common share:Basic$1.08$1.05Diluted$1.07$1.05AFFO per common share:Basic$1.13$1.07Diluted$1.13$1.06Cash dividends paid per common share$0.8100$0.7960

(1)Includes client reimbursements of $97.5 million and $87.4 million for the three months ended March 31, 2026 and 2025, respectively; reserves to rental revenue, exclusive of non-cash reserves, of $6.4 million and $6.2 million for the three months ended March 31, 2026 and 2025, respectively. FUNDS FROM OPERATIONS (FFO) AND NORMALIZED FUNDS FROM OPERATIONS (Normalized FFO)(in thousands, except per share amounts) (unaudited) FFO and Normalized FFO are non-GAAP financial measures. Please see the Glossary for our definitions and
explanations of how we utilize these metrics.
Three months ended
March 31,
20262025Net income available to common stockholders$311,766$249,815Depreciation and amortization
630,275
608,935Depreciation of furniture, fixtures and equipment
(787)
(538)Provisions for impairment of real estate
90,165
97,418Gain on sales of real estate
(35,642)
(22,537)Proportionate share of adjustments for unconsolidated entities
9,478
6,255FFO adjustments allocable to noncontrolling interests
(11,654)
(1,693)FFO available to common stockholders$993,601$937,655FFO allocable to dilutive noncontrolling interests
2,033
2,425Diluted FFO$995,634$940,080FFO available to common stockholders$993,601$937,655Merger, transaction, and other costs, net (1)
10,787
279Normalized FFO available to common stockholders$1,004,388$937,934Normalized FFO allocable to dilutive noncontrolling interests
2,033
2,425Diluted Normalized FFO$1,006,421$940,359FFO per common share:



Basic$1.07$1.05Diluted$1.06$1.05Normalized FFO per common share:Basic$1.08$1.05Diluted$1.07$1.05Distributions paid to common stockholders$758,032$711,824FFO after distributions$235,569$225,831Normalized FFO after distributions$246,356$226,110Weighted average number of common shares used for FFO and Normalized FFO:



Basic931,977891,666Diluted937,128895,033

(1)During the three months ended March 31, 2026, we incurred $10.8 million of merger, transaction, and other costs, net, primarily consisting of costs incurred directly attributable to acquisitions during the quarter and placement fees incurred in fundraising for the U.S. Core Plus Fund. ADJUSTED FUNDS FROM OPERATIONS (AFFO)(in thousands, except per share amounts) (unaudited) AFFO is a non-GAAP financial measure. Please see the Glossary for our definition and an explanation of how we utilize this metric. 
Three months ended March 31,
20262025Net income available to common stockholders$311,766$249,815Cumulative adjustments to calculate Normalized FFO (1)
692,622
688,119Normalized FFO available to common stockholders
1,004,388
937,934Debt-related non-cash items:



Amortization of net debt discounts and deferred financing costs
15,378
6,633Amortization of acquired interest rate swap value (2)
1,531
3,711Capital expenditures from operating properties:



Leasing costs and commissions(1,354)(880)Recurring capital expenditures(170)(19)Other non-cash items:



Non-cash change in allowance for credit losses
39,103
19,171Amortization of share-based compensation
11,383
5,899Straight-line rent and expenses, net
(39,510)
(43,812)Amortization of above and below-market leases, net
13,880
15,326Deferred tax expense (benefit)
1,437
(104)Proportionate share of adjustments for unconsolidated entities
(454)
37Executive severance charge (3)
1,591
—Other adjustments (4)
10,350
5,820AFFO available to common stockholders$1,057,553$949,716AFFO allocable to dilutive noncontrolling interests
2,434
2,401Diluted AFFO$1,059,987$952,117AFFO per common share:



Basic$1.13$1.07Diluted$1.13$1.06Distributions paid to common stockholders$758,032$711,824AFFO after distributions$299,521$237,892Weighted average number of common shares used for AFFO:



Basic
931,977
891,666




Diluted
937,128
895,033

(1)See Normalized FFO calculations on page 9 for reconciling items.(2)Includes the amortization of the purchase price allocated to interest rate swaps acquired in our merger with Spirit Realty Capital, Inc.(3)The executive severance charge reflects certain benefits related to our Chief Legal Officer's expected departure in September 2026.(4)Includes primarily non-cash foreign currency losses (gains) from remeasurement to USD, mark-to-market adjustments on investments and derivatives that are non-cash in nature, obligations related to financing lease liabilities, and adjustments allocable to noncontrolling interests. HISTORICAL FFO AND AFFO(in thousands, except per share amounts) (unaudited) For the three months ended March 31,20262025202420232022Net income available to common stockholders$     311,766$     249,815$     129,696$     225,016$     199,369Depreciation and amortization, net of furniture, fixturesand equipment629,488608,397580,441450,935403,284Provisions for impairment of real estate90,16597,41888,19713,1787,038Gain on sales of real estate(35,642)(22,537)(16,574)(4,279)(10,156)Proportionate share of adjustments for unconsolidatedentities9,4786,2554,674—2,235FFO adjustments allocable to noncontrolling interests(11,654)(1,693)(751)(559)(354)FFO available to common stockholders$     993,601$     937,655$     785,683$     684,291$     601,416Merger, transaction, and other costs, net10,78727994,1041,3076,519Normalized FFO available to common stockholders$  1,004,388$    937,934$   879,787$   685,598$   607,935FFO per diluted share$         1.06$         1.05$         0.94$         1.03$         1.01Normalized FFO per diluted share$         1.07$         1.05$         1.05$         1.04$         1.02AFFO available to common stockholders$  1,057,553$   949,716$    862,871$     650,728$   580,098AFFO per diluted share$         1.13$         1.06$         1.03$         0.98$         0.98Cash dividends paid per common share$      0.8100$      0.7960$      0.7695$      0.7515$      0.7395Weighted average diluted shares outstanding - FFO, Normalized FFO, and AFFO937,128895,033837,037663,034595,103 ADJUSTED EBITDAre(dollars in thousands) (unaudited) Adjusted EBITDAre, Annualized Adjusted EBITDAre, Annualized Pro Forma Adjusted EBITDAre, and Net Debt/Annualized Pro Forma Adjusted EBITDAre are non-GAAP financial measures. Please see the Glossary for our definition and an explanation of how we utilize these metrics.
Three months ended
March 31,

2026Net income$320,935Interest
291,940Income taxes
26,195Depreciation and amortization
630,275Executive severance charge (1)
1,591Provisions for impairment
129,268Merger, transaction, and other costs, net
10,787Gain on sales of real estate
(35,642)Foreign currency and derivative loss, net
17,020Equity in earnings of unconsolidated entities
(2,669)Adjusted EBITDAre$1,389,700Annualized Adjusted EBITDAre (2)$5,558,800Annualized Pro Forma Adjustments$143,520Annualized Pro Forma Adjusted EBITDAre$5,702,320Total debt per the consolidated balance sheet, excluding deferred financing costs and net discounts$29,958,566Less: Cash and cash equivalents
(373,543)Net Debt (3)$29,585,023Net Debt/Annualized Pro Forma Adjusted EBITDAre   
5.2x

(1)The executive severance charge reflects certain benefits related to our Chief Legal Officer's expected departure in September 2026.(2)We calculate Annualized Adjusted EBITDAre by multiplying the Adjusted EBITDAre for the applicable quarter by four.(3)Net Debt is total debt, excluding deferred financing costs and net discounts, less consolidated cash and cash equivalents.The Annualized Pro Forma Adjustments, which include transaction accounting adjustments in accordance with U.S. GAAP, consist of adjustments to incorporate Adjusted EBITDAre from investments we acquired or stabilized during the applicable quarter and Adjusted EBITDAre from investments we disposed of during the applicable quarter, giving pro forma effect to all transactions as if they occurred at the beginning of the applicable quarter. Our calculation includes all adjustments consistent with the requirements to present Adjusted EBITDAre on a pro forma basis in accordance with Article 11 of Regulation S-X. The following table summarizes our Annualized Pro Forma Adjustments related to our Annualized Pro Forma Adjusted EBITDAre calculation for the period indicated below (in thousands):

Three months ended
March 31,

2026Annualized pro forma adjustments from investments acquired or stabilized$155,758Annualized pro forma adjustments from investments disposed
(12,238)Annualized Pro Forma Adjustments$143,520 Adjusted Free Cash Flow(in thousands) (unaudited) Adjusted Free Cash Flow and Annualized Adjusted Free Cash Flow are non-GAAP financial measures. Please see the
Glossary for our definition and an explanation of how we utilize these metrics.
Three months ended March 31,
20262025Net cash provided by operating activities$874,502$787,516Changes in net working capital
154,324
153,834Capital expenditures (1)
(25,237)
(16,181)Distributions paid to common stockholders
(758,032)
(711,824)Distributions paid to noncontrolling interests
(10,951)
(2,999)Merger, transaction, and other costs, net
10,787
279Adjusted Free Cash Flow$245,393$210,625Annualized Adjusted Free Cash Flow$981,572$842,500
(1) Excludes capital expenditures which directly generate incremental rental revenue on our leases. Reconciliation of Same Store Rental Revenue to Rental Revenue (Including Reimbursements)(in thousands) (unaudited) Same store rental revenue is a non-GAAP financial measure. Please see the Glossary for our definition and an
explanation of how we utilize this metric.
Three months ended March 31,
20262025Rental revenue (including reimbursements)$1,440,817$1,313,057Constant currency adjustment (1)
(5,106)
11,324Straight-line rent and other non-cash adjustments
(41)
(976)Contractually obligated reimbursements by our clients
(95,320)
(86,951)Revenue from excluded properties (2)
(106,201)
(55,408)Other excluded revenue (3)
(40,326)
(1,398)Revenue from unconsolidated entities (4)
26,771
25,759Revenue attributable to noncontrolling interests (5)
(28,011)
(22,849)Same Store Rental Revenue$1,192,583$1,182,558

(1)For purposes of comparability, Same Store Rental Revenue is presented on a constant currency basis using the applicable exchange rate as of March 31, 2026.(2)Please see the Glossary for our definitions of Same Store Pool and Same Store Rental Revenue.(3)"Other excluded revenue" primarily consists of reimbursements related to lease termination fees and other settlement income.(4)Represents our Pro-Rata Share of rental revenue from properties owned by unconsolidated joint ventures.(5)Represents the portion of rental revenue attributable to noncontrolling interest based on their pro-rata ownership. CONSOLIDATED BALANCE SHEETS(in thousands, except per share amounts) (unaudited) 
March 31, 2026
December 31, 2025  ASSETS



 Real estate held for investment, at cost:



Land$18,628,769$18,368,029Buildings and improvements
44,464,843
43,824,410Total real estate held for investment, at cost
63,093,612
62,192,439Less accumulated depreciation and amortization
(9,092,291)
(8,778,536)Real estate held for investment, net
54,001,321
53,413,903Real estate and lease intangibles held for sale, net
139,939
91,784Cash and cash equivalents
373,543
434,842Accounts receivable, net
1,117,143
1,053,487Lease intangible assets, net
5,648,504
5,717,241Goodwill
4,932,199
4,932,199Investment in unconsolidated entities
1,320,826
1,256,456Other assets, net
7,021,229
5,895,700Total assets$74,554,704$72,795,612LIABILITIES AND EQUITY



Distributions payable$254,736$255,171Accounts payable and accrued expenses
953,204
1,060,969Lease intangible liabilities, net
1,478,512
1,493,958Other liabilities
1,003,644
1,066,809Revolving credit facilities and commercial paper
2,309,059
2,023,414Term loans, net
2,370,548
1,701,615Mortgages payable, net
37,420
37,761Notes payable, net
24,911,912
25,031,947Total liabilities$33,319,035$32,671,644Stockholders' equity:



Common stock and paid in capital, par value $0.01 per share, 1,300,000 shares authorized, 932,474  and 933,975 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$49,984,064$49,861,660Distributions in excess of net income
(10,973,813)
(10,527,984)Accumulated other comprehensive income
137,234
105,019Total stockholders' equity$39,147,485$39,438,695Noncontrolling interests
2,088,184
685,273Total equity$41,235,669$40,123,968Total liabilities and equity$74,554,704$72,795,612GLOSSARYAdjusted EBITDAre. The National Association of Real Estate Investment Trusts ("Nareit") established an EBITDA metric for real estate companies (i.e., EBITDA for real estate, or EBITDAre) it believed would provide investors with a consistent measure to help make investment decisions among certain REITs. Our definition of "Adjusted EBITDAre" is generally consistent with the Nareit definition, other than our adjustment to remove foreign currency and derivative gain and loss and merger, transaction, and other costs, net. We define Adjusted EBITDAre, a non-GAAP financial measure, for the most recent quarter as earnings (net income) before (i) interest expense, (ii) income taxes, (iii) depreciation and amortization, (iv) executive severance charge, (v) provisions for impairment, (vi) merger, transaction, and other costs, net, (vii) gain on sales of real estate, (viii) foreign currency and derivative gain and loss, net, and (ix) equity in earnings of unconsolidated entities. Our Adjusted EBITDAre may not be comparable to Adjusted EBITDAre reported by other companies or as defined by Nareit, and other companies may interpret or define Adjusted EBITDAre differently than we do. Management believes Adjusted EBITDAre to be a meaningful measure of a REIT's performance because it provides a view of our operating performance, analyzes our ability to meet interest payment obligations before the effects of income tax, depreciation and amortization expense, provisions for impairment, gain on sales of real estate and other items, as defined above, that affect comparability, including the removal of non-recurring and non-cash items that industry observers believe are less relevant to evaluating the operating performance of a company. In addition, EBITDAre is widely followed by industry analysts, lenders, investors, rating agencies, and others as a means of evaluating the operating performance of business activities prior to servicing debt obligations. Adjusted EBITDAre should be considered along with, but not as an alternative to, net income as a measure of our operating performance.Adjusted Free Cash Flow, a non-GAAP financial measure, is defined as net cash provided by operating activities, less certain capital expenditures, distributions paid to common stockholders and noncontrolling interests, merger, transaction, and other costs, net, and changes in net working capital. We believe adjusted free cash flow to be a useful liquidity measure for us and our investors by helping to evaluate our ability to generate cash beyond what is needed to fund capital expenditures, debt service and other obligations. Notwithstanding cash on hand and incremental borrowing capacity, adjusted free cash flow reflects our ability to grow our business through investments and acquisitions, as well as our ability to return cash to shareholders through dividends. Adjusted free cash flow is not considered under generally accepted accounting principles to be a primary measure of an entity's residual cash flow available for discretionary spending, and accordingly should not be considered an alternative to operating income, net income, or amounts shown in our consolidated statements of cash flows.Adjusted Funds From Operations (AFFO), a non-GAAP financial measure, is defined as FFO adjusted for unique revenue and expense items, which we believe are not as pertinent to the measurement of our ongoing operating performance. Most companies in our industry use a similar measurement to AFFO, but they may use the term "CAD" (for Cash Available for Distribution) or "FAD" (for Funds Available for Distribution). We believe AFFO provides useful information to investors because it is a widely accepted industry measure of the operating performance of real estate companies used by the investment community. In particular, AFFO provides an additional measure to compare the operating performance of different REITs without having to account for differing depreciation assumptions and other unique revenue and expense items which are not pertinent to measuring a particular company's ongoing operating performance. Therefore, we believe that AFFO is an appropriate supplemental performance metric, and that the most appropriate GAAP performance metric to which AFFO should be reconciled is net income available to common stockholders.Annualized Adjusted EBITDAre, a non-GAAP financial measure, is calculated by multiplying Adjusted EBITDAre for the applicable quarter by four. Management believes the use of an Annualized Adjusted EBITDAre metric is meaningful because it represents our run rate operating performance for the period presented.Annualized Adjusted Free Cash Flow, a non-GAAP financial measure, is calculated by annualizing Adjusted Free Cash Flow.Annualized Base Rent represents our Pro-Rata Share of contractual monthly base rent for all leases in place and exchange rates as of the balance sheet date, multiplied by 12, and excludes percentage rent and income on loans and preferred equity investments. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. Total annualized base rent has not been reduced to reflect reserves recorded as reductions to GAAP rental revenue in the periods presented. We believe total annualized base rent is a useful supplemental operating measure, as it excludes properties that were no longer owned at the balance sheet date and includes the annualized rent from properties acquired during the quarter.Annualized Pro Forma Adjusted EBITDAre, a non-GAAP financial measure, is defined as Annualized Adjusted EBITDAre, which includes transaction accounting adjustments in accordance with U.S. GAAP, adjusted to incorporate Adjusted EBITDAre from investments we acquired or stabilized during the applicable quarter and Adjusted EBITDAre from investments we disposed of during the applicable quarter, giving pro forma effect to all transactions as if they occurred at the beginning of the applicable quarter. Our calculation includes all adjustments consistent with the requirements to present Annualized Adjusted EBITDAre on a pro forma basis in accordance with Article 11 of Regulation S-X. The ratio of our net debt to our Annualized Pro Forma Adjusted EBITDAre is also used to determine the vesting of performance share awards granted to our executive officers.Cash Income represents expected rent for real estate acquisitions as well as rent to be received upon completion of the properties under development. For unconsolidated entities and consolidated entities with noncontrolling interests, this represents our Pro-Rata Share of the cash income. For loans receivable and preferred equity investments, this represents earned interest income and preferred dividend income, respectively.Funds From Operations (FFO), a non-GAAP financial measure, consistent with the Nareit definition, is net income available to common stockholders, plus depreciation and amortization of real estate assets, plus provisions for impairments of depreciable real estate assets, and reduced by gain on property sales. Presentation of the information regarding FFO and AFFO is intended to assist the reader in comparing the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and AFFO in the same way, so comparisons with other REITs may not be meaningful. FFO and AFFO should not be considered alternatives to reviewing our cash flows from operating, investing, and financing activities. In addition, FFO and AFFO should not be considered measures of liquidity, of our ability to make cash distributions, or of our ability to pay interest payments. We consider FFO to be an appropriate supplemental measure of a REIT's operating performance as it is based on a net income analysis of property portfolio performance that adds back items such as depreciation and impairments for FFO. The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time. Since real estate values historically rise and fall with market conditions, presentations of operating results for a REIT using historical accounting for depreciation could be less informative. The use of FFO is recommended by the REIT industry as a supplemental performance measure. In addition, FFO is used as a measure of our compliance with the financial covenants of our credit facility.Gross Asset Value is total assets before accumulated depreciation and amortization.Initial Weighted Average Cash Yield for acquisitions and properties under development is computed as Cash Income for the first twelve months following the acquisition date, divided by the total cost of the property (including all expenses borne by us), and includes our Pro-Rata Share of Cash Income from unconsolidated joint ventures and consolidated entities with noncontrolling interests. Initial weighted average cash yield for loans receivable and preferred equity investments is computed using the Cash Income for the first twelve months following the acquisition date, divided by the total cost of the investment.Investment Grade Clients are our clients, our clients that are subsidiaries or affiliates of companies, and credit investments secured with a real estate property leased to a tenant, that as of the balance sheet date, have a credit rating of Baa3/BBB- or higher from one of the three major rating agencies (Moody's/S&P/Fitch).Net Debt/Annualized Pro Forma Adjusted EBITDAre, a ratio used by management as a measure of leverage, is calculated as net debt (which we define as total debt, excluding deferred financing costs and net discounts, less cash and cash equivalents), divided by Annualized Pro Forma Adjusted EBITDAre.Normalized Funds from Operations Available to Common Stockholders (Normalized FFO), a non-GAAP financial measure, is FFO excluding merger, transaction, and other costs, net.Pro-Rata Share represents our proportionate economic ownership of our joint ventures, which is derived by applying our economic ownership percentage of each such joint venture to calculate our proportionate share of the relevant line item information being presented, and aggregating that information for all such joint ventures. For balance sheet information and other capital-based metrics, we apply our economic ownership percentage as of the end of the applicable period being presented, and for activity- and earnings-based metrics, we apply our weighted average economic ownership percentage for the applicable period being presented, unless otherwise specified.We believe this form of presentation offers insights into the financial performance and condition of our company as a whole, given the significance of our joint ventures that are accounted for either under the equity method or consolidated with the third parties' share included in noncontrolling interest, although the presentation of such information may not accurately depict the legal and economic implications of holding a noncontrolling interest in the joint venture. We do not control the unconsolidated joint ventures in which we are invested for purposes of GAAP and do not represent legal claim to such items.The operating agreements of the joint ventures may contain provisions that would cause us to receive a different economic percentage of distributions from the joint venture under certain circumstances, such as the amount of capital contributed by each investor and whether any contributions are entitled to priority distributions. Similarly, upon a liquidation of any such joint venture, subject to the applicable terms of the operating agreement of such joint venture, we generally would be entitled to the applicable percentage of residual cash or other assets that remain only after repayment of all liabilities, priority distributions, and initial equity contributions. In addition, the economic interests in any joint venture may be different than our other legal interests or rights in such joint venture.We provide pro-rata financial information because we believe it assists investors and analysts in estimating our economic interest in our joint ventures when read in conjunction with our reported results under GAAP. Other companies may calculate their proportionate interest differently than we do, limiting the usefulness as a comparative measure. Due to these limitations, the non-GAAP pro-rata financial information should not be considered in isolation or as a substitute for our consolidated financial statements as reported under GAAP.Same Store Pool, for purposes of determining the properties used to calculate our same store rental revenue, includes all properties that we owned for the entire year-to-date period, for both the current and prior year except for properties during the current or prior year that were: (i) vacant at any time, (ii) under development or redevelopment, or (iii) involved in eminent domain and rent was reduced.Same Store Rental Revenue excludes straight-line rent, the amortization of above and below-market leases, and reimbursements from clients for recoverable real estate taxes and operating expenses. For purposes of comparability, same store rental revenue is presented on a constant currency basis by applying the exchange rate as of the balance sheet date to base currency rental revenue. We present same store rental revenue on a pro-rata basis to account for our share of same store rental revenue related to unconsolidated and consolidated joint ventures. For purposes of comparability, we calculate our Pro-Rata Share using our ownership percentage as of March 31, 2026 to same store rental revenue throughout the three months ended period in both 2025 and 2026.  View original content to download multimedia:https://www.prnewswire.com/news-releases/realty-income-announces-operating-results-for-the-three-months-ended-march-31-2026-302764639.htmlSOURCE Realty Income Corporation Original: Realty Income Announces Operating Results for the Three Months Ended March 31, 2026

Realty Income Announces 670th Consecutive Common Stock Monthly DividendApril 14, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, April 14, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has declared its 670th consecutive common stock monthly dividend. The dividend amount of $0.2705 per share, representing an annualized amount of $3.246 per share, is payable on May 15, 2026 to stockholders of record as of April 30, 2026.







About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 670 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio including the plans and intentions of management and dividends, including the amount, timing and payment of dividends related thereto. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in  real estate, credit investments, and joint ventures or co-investment ventures, including client solvency, defaults under leases, and  bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events.



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Original: Realty Income Announces 670th Consecutive Common Stock Monthly Dividend

Realty Income Announces First Quarter 2026 Earnings Release DateApril 9, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, April 9, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced it will release its first quarter 2026 operating results after the New York Stock Exchange closes on May 6, 2026. Following publication of this earnings release, the company will host its quarterly investor call at 2:00 p.m. PDT.







To access the conference call, dial (833) 816-1264 (United States) or (412) 317-5632 (International). When prompted, please ask for the Realty Income conference call.A telephone replay of the conference call can also be accessed by calling (855) 669-9658 (United States) or (412) 317-0088 (International) and entering the conference ID 5227110. The telephone replay will be available through May 13, 2026.A live webcast will be available in listen-only mode by clicking on the webcast link on the company's homepage at www.realtyincome.com. A replay of the conference call webcast will be available approximately one hour after the conclusion of the live broadcast. No access code is required for this replay.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio including the plans and intentions of management. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in  real estate, credit investments, and joint ventures or co-investment ventures, including client solvency,  defaults under leases, and  bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and operating results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.



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Original: Realty Income Announces First Quarter 2026 Earnings Release Date

Realty Income Prices $800 Million Offering of Senior Notes due 2033March 30, 2026 8:30 PM
PR Newswire (US)

SAN DIEGO, March 30, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the pricing of a public offering of $800 million of 4.750% senior unsecured notes due April 15, 2033 (the "Notes"). The public offering price for the Notes was 98.261% of the principal amount for an effective yield to maturity of 5.047%. In conjunction with the pricing of this offering, Realty Income executed a $500 million U.S. Dollar-to-Euro 7-year cross currency swap, resulting in an anticipated receipt of approximately €436 million in proceeds and an effective fixed-rate, Euro-denominated yield to maturity of approximately 4.07% and coupon rate of 3.81%. As a result of the swap, Realty Income achieved an effective blended yield to maturity of approximately 4.44% and blended coupon rate of 4.16%.







The net proceeds from this offering will be used for general corporate purposes, which may include, among other things, the repayment or repurchase of our indebtedness (including borrowings under our revolving credit facilities and commercial paper programs), foreign currency swaps or other hedging instruments, the development, redevelopment and acquisition of additional properties, acquisition or business combination transactions, and the expansion and improvement of certain properties in our portfolio.This offering is expected to close on April 7, 2026, subject to the satisfaction of customary closing conditions.The active joint book-running managers for the offering are Wells Fargo Securities, BBVA, BofA Securities, J.P. Morgan, and TD Securities.A copy of the prospectus supplement and prospectus, when available, related to this offering may be obtained by contacting: Wells Fargo Securities, LLC by telephone (toll-free) at 1-800-645-3751; BBVA Securities Inc. by telephone (toll-free) at 1-800-422-8692; BofA Securities, Inc. by telephone (toll-free) at 1-800-294-1322; J.P. Morgan Securities LLC by telephone (collect) at 1-212-834-4533; and TD Securities (USA) LLC by telephone (toll-free) at 1-855-495-9846.These securities are offered pursuant to a Registration Statement that has become effective under the Securities Act of 1933, as amended. These securities are only offered by means of the prospectus included in the Registration Statement and the prospectus supplement related to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction where, or to any person to whom, the offer, solicitation, or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio and are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, credit investments, and joint ventures or co-investment ventures, including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Actual plans and results may differ materially from what is expressed or forecasted and expectations and forecasts made in the forward-looking statements may not materialize. We do not undertake any obligation to update forward-looking statements or to publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events.Investor Relations:
Jonathan Pong
Executive Vice President, CFO and Treasurer
+1 858 284 5177
jpong@realtyincome.com



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Original: Realty Income Prices $800 Million Offering of Senior Notes due 2033

Realty Income Announces Closing of $694 Million Term Loan Due 2036March 23, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, March 23, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the successful closing of a $694 million U.S. dollar-denominated, unsecured term loan (Term Loan) due January 2036 with an affiliate of The Goldman Sachs Group, Inc. The Term Loan priced at an all-in fixed rate of 4.91%. In conjunction with the closing, Realty Income executed a cross-currency swap for a portion of the proceeds, swapping $500 million of proceeds for approximately €431 million (in addition to the related interest payments) over the term of the loan. As a result of the swap, Realty Income achieved an effective blended borrowing rate of 4.34%.







The financing is associated with a broader transaction that supports San Diego Community Power (Community Power), California's second largest Community Choice Aggregator (CCA) serving nearly 1 million customers in the San Diego region where Realty Income is headquartered. Realty Income's role is limited to the Term Loan and related swap.Transaction OverviewSan Diego Community Power has entered into a long-term electricity supply arrangement to secure clean, cost-effective power on a forward commodity contract. To facilitate this arrangement, Community Power utilized a well-established municipal prepay structure that enables a public agency to issue municipal bonds and use the proceeds to prepay for electricity deliveries. The recipient of the prepayment, Aron Energy Prepay 60 LLC, an affiliate of Goldman Sachs, is lending a portion of the proceeds to Realty Income through the unsecured Term Loan.For Community Power, the transaction supports long-term energy procurement objectives, contributing to the achievement of its goals on behalf of residents and businesses throughout San Diego County."Transactions like this demonstrate how community choice aggregators like San Diego Community Power can use sophisticated, responsible financial tools to advance our climate goals without sacrificing affordability," said Karin Burns, CEO of San Diego Community Power. "It supports our long-term clean and renewable energy strategy while keeping fiscal responsibility front and center for the communities we serve."For Realty Income, the transaction represents a strategic addition to its capital markets toolkit, further diversifying its long-term debt funding sources at attractive all-in rates."We are pleased to partner with San Diego Community Power for our debut transaction to support its prepayment of commodity costs," said Jonathan Pong, Chief Financial Officer and Treasurer of Realty Income. "This transaction allows us to support our local community by providing dependable monthly income to San Diego Community Power to achieve a fixed discount for a portion of its future energy needs. Moreover, this unique source of capital represents further diversification of our sources of long-term capital, providing us with a cost of fixed-rate debt priced below that of similar tenor public unsecured debt."Goldman Sachs & Co. LLC served as sole underwriter on the municipal bond financing.Realty Income is not issuing municipal bonds, is not guaranteeing or otherwise obligated to make any payments on such municipal bonds and does not receive tax-exempt financing in connection with this transaction. The Company has no exposure to electricity markets or commodity price risk. Its role is limited to the Term Loan, which is a bilateral financing arrangement with Aron Energy Prepay 60 LLC, pursuant to which Realty Income makes fixed, scheduled monthly payments over the term of the loan. The Term Loan is structured as a senior unsecured obligation of Realty Income, ranking pari passu with its other senior unsecured indebtedness.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years.About San Diego Community PowerSan Diego Community Power is a community choice energy program that gives customers an option to run their businesses and homes on significantly higher levels of renewable power at competitive rates. It serves nearly 1 million customers in San Diego, Chula Vista, Encinitas, La Mesa, National City, Imperial Beach and the unincorporated communities of San Diego County. Learn more at SDCommunityPower.org. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio and are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in the real estate business including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Actual plans and results may differ materially from what is expressed or forecasted and expectations and forecasts made in the forward-looking statements may not materialize. We do not undertake any obligation to update forward-looking statements or to publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made or to reflect the occurrence of unanticipated events.



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Original: Realty Income Announces Closing of $694 Million Term Loan Due 2036

Realty Income and Apollo to Establish Strategic PartnershipMarch 19, 2026 4:15 PM
PR Newswire (US)

- Funding Arrangement Will Advance Realty Income's Private Capital Initiative with Leading Asset Manager- Initial Apollo Investment of $1.0 Billion for 49% Equity Interest in Portfolio of Existing U.S. Realty Income Retail Assets- Cost-Efficient Long-Term Equity with 100% Permanent Equity Treatment by Rating AgenciesSAN DIEGO and NEW YORK, March 19, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, and Apollo (NYSE: APO) today announced that Apollo-managed funds and affiliates intend to provide a $1.0 billion investment to Realty Income to acquire a 49% interest in a new joint venture entity that is expected to own a diversified portfolio of single-tenant retail properties subject to long-term net leases. Realty Income will continue to manage the portfolio, which includes approximately 500 retail assets that benefit from stable, contractual cash flows and are supported by Realty Income's operating platform and long-standing asset management expertise.







"We are pleased to announce Apollo's targeted equity investment in a highly diversified, income-producing portfolio. As real estate partner to the world's leading companies®, we expect this partnership will serve as a template for a multi-billion-dollar, programmatic co-investing relationship in the U.S. Our size, scale, and longstanding commitment to providing dependable monthly dividends to investors make this a natural fit with Apollo's insurance capital. Realty Income has demonstrated the ability to attract scaled commitments from partners looking to invest in our operating platform, and this new joint venture will further expand our access to efficient sources of private funding from one of the world's leading financial institutions," said Sumit Roy, Realty Income's President and Chief Executive Officer.Apollo Partner Jamshid Ehsani said, "This transaction represents a landmark deal in the public REIT space. We believe the combination of Apollo's long-term capital with Realty Income's large, growing and diversified portfolio of high-quality net lease assets creates a highly complementary partnership. This partnership with Realty Income represents a programmatic framework for long-term alignment and repeatable capital deployment over time."The joint venture represents a cornerstone component of Realty Income's private capital initiative, which is designed to diversify the Company's sources of capital and complement its access to the public equity markets. Realty Income expects the long-term partnership with Apollo to provide a scalable source of equity to support investment activity in long-duration, stabilized assets, while maintaining balance sheet strength and financial flexibility.Realty Income CFO Jonathan Pong said, "This structured equity funding arrangement with Apollo is expected to unlock a source of meaningful savings relative to our long-term cost of public equity capital. Further, the cost of future tranches of this capital is expected to flex commensurate with long-term interest rates and will be priced independent of public markets, supporting a more stable source of equity. We are pleased that this structure has received permanent equity treatment by both Moody's and S&P."Apollo Partner Joseph Jackson commented, "Realty Income is a leading global net lease real estate player with a long track record of disciplined growth and portfolio performance. Apollo's intention to make a substantial upfront and anticipated follow-on investments into Realty Income's high-quality assets demonstrates our ability to deliver differentiated capital solutions tailored to our partner's objectives."Since 2020, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Intel, Keurig Dr Pepper, Air France-KLM, BP, Sony, AB InBev, Vonovia and more.The transaction is expected to close on March 31, 2026, subject to finalization and execution of the documentation, and customary closing conditions.Goldman Sachs & Co. LLC acted as exclusive structuring agent and financial advisor to Realty Income, and Wells Fargo Securities served as financial advisor to Apollo.Transaction HighlightsUnder the terms of the transaction, Realty Income is expected to receive $1.0 billion of gross proceeds in exchange for Apollo's acquisition of a 49% interest in a joint venture that indirectly owns a diversified net lease portfolio comprised entirely of single-tenant retail properties. Realty Income will manage the properties under a long-term management agreement.Realty Income will retain the right to exercise a call option to redeem Apollo's equity interest after year 7 and through year 15 of the joint venture, with the future call price calculated to ensure a capped IRR of 6.875% to Apollo during its ownership period.Key portfolio metrics of the anticipated portfolio, as of December 31, 2025, are as follows:Number of U.S. retail properties: ~500Cash annualized base rent: $140 millionWeighted average remaining lease term: 9.1 yearsInvestment grade exposure (as percentage of total portfolio base rent): 28%Compound annual contractual growth rate: 1.0%Top five industries: Dollar Stores (9.9%), Quick Service Restaurants (8.3%), Drug Stores (7.9%), Grocery (7.7%), Health & Fitness (7.5%)Portfolio metrics are subject to finalization and may change based on the final composition of the portfolio.Realty Income has published an investor presentation providing additional information on this transaction, which can be found at www.realtyincome.com/investors/investor-presentation.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.About ApolloApollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of the joint venture with Apollo, including the execution and completion thereof, our ability to exercise the call right to redeem Apollo's equity interest in the joint venture and the call price payable therefor, entry into subsequent joint ventures on a programmatic basis, our business and portfolio including management thereof, and the intentions of management and dividends, including the amount, timing and payment of dividends related thereto. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our ability to execute and close the joint venture on the anticipated terms, or at all, our and the joint venture's financial performance; our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in the real estate business including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and operating results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.










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Original: Realty Income and Apollo to Establish Strategic Partnership

134TH COMMON STOCK MONTHLY DIVIDEND INCREASE DECLARED BY REALTY INCOMEMarch 11, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, March 11, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced it has declared an increase in its common stock monthly cash dividend to $0.2705 per share from $0.2700 per share. The dividend is payable on April 15, 2026, to stockholders of record as of March 31, 2026. The new monthly dividend represents an annualized dividend amount of $3.246 per share as compared to the prior annualized dividend amount of $3.240 per share.







"Realty Income's strong, diversified portfolio supports our ability to pay monthly dividends that grow steadily over time," said Sumit Roy, Realty Income's President and Chief Executive Officer. "I am proud to announce that today's declaration marks our 134th dividend increase since Realty Income's listing on the New York Stock Exchange in 1994."About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 669 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio including management thereof, and the intentions of management and dividends, including the amount, timing and payment of dividends related thereto. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, credit investments, joint ventures or co-investment ventures including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release might not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.










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Original: 134TH COMMON STOCK MONTHLY DIVIDEND INCREASE DECLARED BY REALTY INCOME

Realty Income Announces Participation in Upcoming Citi 2026 Global Property CEO ConferenceMarch 2, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, March 2, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that Sumit Roy, Realty Income's President and Chief Executive Officer, will present at Citi's 31st Annual Global Property CEO Conference on Tuesday, March 3rd, 2026 at 11:40 a.m. EST/8:40 a.m. PST.







The presentation will be broadcast live via webcast and can be accessed through the Upcoming Events section of Realty Income's website: https://www.realtyincome.com/investors/investor-resources/event-calendar. The webcast will be available for replay on the company's website shortly after the conclusion of the live events for a period of approximately 90 days. About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 668 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio including management thereof, and the intentions of management. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in real estate, credit investments, joint ventures or co-investment ventures including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release might not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.



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Original: Realty Income Announces Participation in Upcoming Citi 2026 Global Property CEO Conference

Realty Income Announces Chief Legal Officer TransitionMarch 2, 2026 4:16 PM
PR Newswire (US)

SAN DIEGO, March 2, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that its Executive Vice President, Chief Legal Officer, General Counsel and Secretary, Michelle Bushore, is leaving the Company. To ensure a smooth transition, Ms. Bushore will continue to serve in her role through September 2, 2026, while the Company conducts a search for a new Chief Legal Officer.







"Michelle has been a well-regarded member of the senior management team and leader for the Company," said Sumit Roy, Realty Income's President and Chief Executive Officer. "On behalf of myself, the Board of Directors and the entire team at Realty Income, we want to thank Michelle for her numerous contributions to the continued evolution of the Company. Her tenure has been defined by integrity, sound judgement and unwavering commitment to doing what is right. She was instrumental in helping negotiate two pivotal M&A transactions for our Company and helped shape our governance and compliance practices. I thank her for her dedication to the organization and wish her continued success in her future endeavors.""It has been a privilege to contribute to Realty Income's remarkable growth during my tenure," said Ms. Bushore. "While I have decided to step away at this time to pursue new opportunities that align with the next chapter of my professional journey, I do so with immense pride in what we have accomplished together. I am deeply grateful to my colleagues, the Board and our partners for their support, and I look forward to watching Realty Income's continued success in the years ahead."About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the United Kingdom ("U.K."), and eight other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our listing on the NYSE in 1994, we have had 133 dividend increases and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "will," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include the announcement of plans and the intentions of management, including with respect to the timing of the transition of the role of Chief Legal Officer. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially may include changes in decisions with respect to continued employment, and such other risks and factors discussed in the filings by the Company with the U.S. Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2025 under the heading "Risk Factors." Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. The Company does not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.



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Original: Realty Income Announces Chief Legal Officer Transition

Realty Income Announces 668th Consecutive Common Stock Monthly DividendFebruary 17, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, Feb. 17, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has declared its 668th consecutive common stock monthly dividend. The dividend amount of $0.2700 per share, representing an annualized amount of $3.240 per share, is payable on March 13, 2026 to stockholders of record as of February 27, 2026.







About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of September 30, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and seven other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 668 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "estimate," "anticipate," "assume," "expect," "believe," "intend," "continue," "should," "may," "likely," "plan," "seek," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio including management thereof, and the intentions of management and dividends, including the amount, timing and payment of dividends related thereto. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); volatility and uncertainty in the credit and financial markets; other risks inherent in the real estate business including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments (including rights of first refusal or rights of first offer), and potential damages from natural disasters; impairments in the value of our real estate assets; volatility and changes in domestic and foreign laws and the application, enforcement or interpretation thereof (including with respect to tax laws and rates); property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which, among other things, may transfer or limit our control of the underlying investments; epidemics or pandemics; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers, acquisitions, co-investment ventures, funds, joint ventures, partnerships, and other arrangements; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Past operating results and performance are provided for informational purposes and are not a guarantee of future results. There can be no assurance that historical trends will continue. Actual plans and results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release may not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.



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Original: Realty Income Announces 668th Consecutive Common Stock Monthly Dividend

Realty Income Announces 2025 Dividend Tax AllocationJanuary 29, 2026 4:05 PM
PR Newswire (US)

SAN DIEGO, Jan. 29, 2026 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the final calculation of the dividend tax status for its 2025 common stock distributions. A portion of these common stock distributions are considered a non-taxable distribution. Respective tax attributes of the distributions paid per share are outlined below:







Realty Income Corporation Common Stock (CUSIP: 756109104)                                             Total Common Distributions Paid in 2025                         $ 3.2170000                                             Ordinary Income Dividend $ 2.1351154 (66.370%)                                             Non-taxable Distribution (return of capital) $ 1.0818846 (33.630%)Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of any Realty Income common stock dividends received.About Realty IncomeRealty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of September 30, 2025, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and seven other countries in Europe. We are known as "The Monthly Dividend Company®" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 667 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index for having increased our dividend for over 31 consecutive years. Additional information about the company can be found at www.realtyincome.com.



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Original: Realty Income Announces 2025 Dividend Tax Allocation

Realty Income Corporation $O Total Debt (mrq) $19.43B Book Value Per Share (mrq) $43.46

Realty Income Corporation $O Total Debt (mrq) $19.43B Book Value Per Share (mrq) $43.46

Good luck to you as well. Look like it's a bargain sale today.

Thanks for your feedback. Good luck to all of us

I added a small amount once more a month ago. Will try to add more periodically.

Are you continuing to add? I am looking to significantly increase my position size.

Just bought some big O shares for my IRA. Wish I had known about it a few years back but definitely the monthly steady dividends were a big factor in adding.

I like the sound of that.

Realty Income Corp shows strength going forward with increasing revenues
and a projected near term price target of $85 as interest in REITs returns.

If anyone has an interest in an in-depth fundamental analysis of O and some of its competitors please check out Youtube Channel : CMD Fundamental Investment

Really interesting stuff and numbers.

The news today was very reassuring on percent of rents paid.

The 3 Best Monthly Dividend Stocks to Buy Right Now:

Realty Income $O:

I do enjoy that monthly dividend. compounding nicely!

Another dividend check tomorrow! Monthly income and so easy too.

The Best Monthly Dividend Paying Stock - Realty Income

Realty Income (O) Stock Analysis - Why You Should Buy & Hold this REIT for Decades to Come:

https://dailyinvestingadvice.com/realty-income-o-stock-analysis-real-estate-investment-trust-reit/

How high can it go! Good news for q3 could really lock in this up trend.

News: $O I'd Rather Overpay for Realty Income Than Buy This IPO

Office landlord The We Company is getting set to come public, with plans for an initial public offering (IPO) maybe as soon as this month (September 2019). But investors need to step back and take a deep breath. With recent rounds of private funding placing a valuation of as much as $47 billio...

Got this from O - I'd Rather Overpay for Realty Income Than Buy This IPO

What's in the Cards for Realty Income's (O) Q4 Earnings?

Realty Income Corp. O is scheduled to report fourth-quarter 2018 results after the market closes on Feb 20. The company’s results are anticipated to reflect year-over-year increase in revenues, while its funds from operations (FFO) per share might witness a decline.

In the last reported quarter, this monthly dividend-paying real estate investment trust (REIT) delivered a better-than-expected performance in terms of FFO per share. The company benefited from year-over-year growth in revenues and also enjoyed high occupancy levels.

Notably, Realty Income has a mixed surprise history. The company surpassed estimates in two occasions, met in another and missed in the other, over the trailing four quarters, resulting in average positive surprise of 0.63%. This is depicted in the graph below:

Realty Income Corporation Price and EPS Surprise


Realty Income Corporation Price and EPS Surprise | Realty Income Corporation Quote

For full-year 2018, Realty Income expects adjusted FFO per share of $3.18-$3.21. The Zacks Consensus Estimate for the same is currently pinned at $3.13.

Let’s see how things are shaping up for this announcement.

Factors to Consider

This freestanding retail REIT derives more than 90% of its annualized retail rental revenues from tenants belonging to service, non-discretionary and low-price retail businesses. Such businesses are less susceptible to economic recessions, as well as competition from Internet retailing. Moreover, the company’s portfolio is well diversified with respect to tenant, industry, geography, and property type, which contributes to the stability of its cash flow.

In addition, the healthy U.S. economy and job-market gains are important catalysts for the retail real estate industry’s growth. Particularly, increase in corporate profits and tax cuts are pushing up wages. As such, consumer confidence is getting a boost, fueled by job growth and rising wages. And along with low gas prices, disposable income of consumers has increased as well which is likely to spur demand for retail goods. This is anticipated to have sent across positive ripple effects across the industry in the to-be-reported quarter.

In addition, the company focuses on external growth through exploring accretive acquisition opportunities. In the quarter under review, healthy property acquisition volume at decent investment spreads will likely aid the company’s performance.

Realty Income’s solid underlying real estate quality and prudent underwriting at acquisition has also helped the company maintain high occupancy levels consistently. Since 1996, the company’s occupancy level has not moved below 96%. This trend is likely to have continued in the soon-to-be-reported quarter as well. Further, same-store rent growth is likely to exhibit limited operational volatility.

These are anticipated to have helped the company enjoy higher revenues in the Oct-Dec quarter. In fact, the Zacks Consensus Estimate for fourth-quarter revenues is pegged at $343.2 million, indicating a year-over-year rise of 10.5%. The Zacks Consensus Estimate for rental revenues of $328 million also denotes a projected increase of 9.7%, year over year.

Nonetheless, despite all these efforts, the choppy retail real estate environment might limit its growth momentum to some extent. In fact, the recent data from Reis shows that the neighborhood and community shopping center vacancy rate remained flat in the fourth quarter at 10.2%. However, it inched up from 10% at year-end 2017. Mall vacancy rate edged down to 9% in the quarter from 9.1% in the third quarter. At year-end 2017, the mall vacancy was 8.3%. In addition, the company has substantial exposure to single-tenant assets which raises its risks associated with tenant default.

Further, prior to the fourth-quarter earnings release, there is lack of any solid catalyst. As such, the Zacks Consensus Estimate of FFO per share for the fourth quarter remained unchanged at 75 cents, over the past month. The figure also indicates a 1.3% decline from the comparable period last year.

Here is what our quantitative model predicts:

Realty Income does not have the right combination of two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or higher — for increasing the odds of an earnings beat.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
https://finance.yahoo.com/news/whats-cards-realty-incomes-o-135501699.html

GO "O"

"PEACE"

I am buying short ootions tomorrow

Hiw will rate hike play here?

Another 52 week high!!! Moving on up!! Go O!

GO "O"

What's in the Cards for Realty Income (O) in Q3 Earnings?
[Zacks]
Zacks Equity Research
,Zacks•October 30, 2018

Realty Income (O) Q3 performance is likely to exhibit gains from its focus on tenants from service, non-discretionary and Internet-resilient business despite the choppy retail real estate market.
Realty Income (O) Q3 performance is likely to exhibit gains from its focus on tenants from service, non-discretionary and Internet-resilient business despite the choppy retail real estate market.

1 / 2
What's in the Cards for Realty Income (O) in Q3 Earnings?
Realty Income (O) Q3 performance is likely to exhibit gains from its focus on tenants from service, non-discretionary and Internet-resilient business despite the choppy retail real estate market.

Realty Income Corp. O is scheduled to report third-quarter 2018 results after the market closes on Oct 31. The company’s results are estimated to reflect year-over-year rise in funds from operations (FFO) per share and revenues.

In the last reported quarter, this monthly dividend-paying real estate investment trust (REIT) delivered a better-than-expected performance in terms of FFO per share. The company benefited from year-over-year growth in revenues and also enjoyed high occupancy levels.

Notably, Realty Income has a mixed surprise history. The company surpassed estimates in two occasions, met in another and missed in the other, over the trailing four quarters, resulting in an average positive surprise of 0.32%. This is depicted in the graph below:

Realty Income Corporation Price and EPS Surprise


Realty Income Corporation Price and EPS Surprise | Realty Income Corporation Quote

Let’s see how things are shaping up for this announcement.

Factors to Consider

Realty Income makes concerted efforts to have a well-diversified portfolio with respect to tenant, industry, geography and property type. Apart from retail properties, the company’s portfolio comprises industrial, office, as well as agricultural properties. This diversification helps it mitigate risks associated with a particular industry, geography or asset type.

Importantly, this freestanding retail REIT derives more than 90% of its annualized retail rental revenues from tenants belonging to service, non-discretionary and low-price retail businesses. Such businesses are less susceptible to economic recessions, as well as competition from Internet retailing.

Realty Income is focused on external growth through exploring accretive acquisition opportunities. The company’s solid underlying real estate quality and prudent underwriting at acquisition has helped the company maintain high occupancy levels consistently. Since 1996, the company’s occupancy level has never been below 96%. The trend is expected to have continued in the to-be-reported quarter as well. Also, its same-store rent growth is likely to exhibit limited operational volatility.

In addition, recovering economy, low unemployment level and rising incomes from tax cuts are likely to spur demand for retail goods. Furthermore, high consumer sentiment, upbeat consumer sales and improving net absorption are likely to aid occupancy levels.

These are expected to have helped the company enjoy higher retail revenues in the Jul-Sep quarter. In fact, the Zacks Consensus Estimate for third-quarter revenues is pegged at $334.2 million, indicating a year-over-year rise of 8.9%. The Zacks Consensus Estimate for rental revenues of $318 million also denotes a projected increase of 8.5% year over year.

Amid these, the Zacks Consensus Estimate for third-quarter FFO per share is 79 cents, indicating 2.6% growth from the comparable period last year.

Nonetheless, despite all these efforts, the choppy retail real estate environment may limit growth momentum to some extent. In addition, the company has substantial exposure to single-tenant assets which raises its risks associated with tenant default. Further, prior to the third-quarter earnings release, there is lack of any solid catalyst. As such, the Zacks Consensus Estimate of FFO per share for Q3 remained unchanged at 79 cents, over the past two months.

Earnings Whispers

Our proven model does not conclusively show that Realty Income will likely beat estimates this season. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or at least 3 (Hold) for this to happen.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP is -1.61%.

Zacks Rank: Realty Income has a Zacks Rank of 3, which increases the predictive power of ESP. However, we also need a positive ESP to be confident of a positive surprise.
https://finance.yahoo.com/news/apos-cards-realty-income-o-223110696.html

"PEACE"

New 52 week high!!! Go O!

Way to go "O"

580th Consecutive Common Stock Monthly Dividend Declared By Realty Income
[PR Newswire]
PR Newswire•October 17, 2018

SAN DIEGO, Oct. 16, 2018 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that its Board of Directors has declared the 580th consecutive common stock monthly dividend. The dividend amount of $0.2205 per share, representing an annualized amount of $2.646 per share, is payable on November 15, 2018 to shareholders of record as of November 1, 2018. The ex-dividend date for November's dividend is October 31, 2018.
Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation)
Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation)
About the Company
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 580 consecutive common stock monthly dividends throughout its 49-year operating history and increased the dividend 98 times since Realty Income's public listing in 1994 (NYSE:O). Additional information about the company can be obtained from the corporate website at www.realtyincome.com.
https://finance.yahoo.com/news/580th-consecutive-common-stock-monthly-200600416.html

GO "O"

"PEACE"

Yes you should. Very solid company.

Should You Keep Realty Income (O) Stock in Your Portfolio?
https://finance.yahoo.com/news/keep-realty-income-o-stock-134101721.html

GO "O"

"peace"

Way to go "O"

578th Consecutive Common Stock Monthly Dividend Declared By Realty Income

SAN DIEGO, Aug. 21, 2018 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that its Board of Directors has declared the 578th consecutive common stock monthly dividend. The dividend amount of $0.22 per share, representing an annualized amount of $2.64 per share, is payable on September 14, 2018 to shareholders of record as of September 4, 2018. The ex-dividend date for September's dividend is August 31, 2018.
Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation)
Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation)
About the Company
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 578 consecutive common stock monthly dividends throughout its 49-year operating history and increased the dividend 97 times since Realty Income's public listing in 1994 (NYSE:O). Additional information about the company can be obtained from the corporate website at www.realtyincome.com.
https://finance.yahoo.com/news/578th-consecutive-common-stock-monthly-200500647.html

GO "O"

"PEACE"

As the Divy's just keep on coming........

97th Common Stock Monthly Dividend Increase Declared By Realty Income
[PR Newswire]
PR Newswire•June 20, 2018

SAN DIEGO, June 19, 2018 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced its Board of Directors has declared an increase in the company's common stock monthly cash dividend to $0.22 per share from $0.2195 per share. The dividend is payable on July 13, 2018 to shareholders of record as of July 2, 2018. This is the 97th dividend increase since Realty Income's listing on the NYSE in 1994. The ex-dividend date for July's dividend is June 29, 2018. The new monthly dividend represents an annualized dividend amount of $2.64 per share as compared to the current annualized dividend amount of $2.634 per share.
Dividend Increases Chart
Dividend Increases Chart

"We are pleased that our Board of Directors has once again determined that we are able to increase the amount of the monthly dividend we pay to our shareholders," said John P. Case, Chief Executive Officer of Realty Income. "With the payment of the July dividend, we will have made 576 consecutive monthly dividend payments and paid over $5.5 billion in dividends throughout our 49-year operating history."

About the Company
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,300 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 576 consecutive common stock monthly dividends throughout its 49-year operating history and increased the dividend 97 times since Realty Income's public listing in 1994 (NYSE:O). Additional information about the company can be obtained from the corporate website at www.realtyincome.com.

Forward-Looking Statements
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, tenant financial health, the availability of capital to finance planned growth, continued volatility and uncertainty in the credit markets and broader financial markets, property acquisitions and the timing of these acquisitions, charges for property impairments, and the outcome of legal proceedings to which the company is a party, as described in the company's filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
https://www.prnewswire.com/news-releases/97th-common-stock-monthly-dividend-increase-declared-by-realty-income-300669045.html


GO "O"

Business
Read This Before Buying Realty Income Corporation (NYSE:O) For Its Upcoming $0.22 Dividend

Investors who want to cash in on Realty Income Corporation’s (NYSE:O) upcoming dividend of $0.22 per share have only 3 days left to buy the shares before its ex-dividend date, 30 April 2018, in time for dividends payable on the 15 May 2018. Should you diversify into Realty Income and boost your portfolio income stream? Well, keep on reading because today, I’m going to look at the latest data and analyze the stock and its dividend property in further detail. View our latest analysis for Realty Income
5 checks you should use to assess a dividend stock

When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Is their annual yield among the top 25% of dividend payers?
Has it paid dividend every year without dramatically reducing payout in the past?
Has dividend per share amount increased over the past?
Is it able to pay the current rate of dividends from its earnings?
Will it be able to continue to payout at the current rate in the future?

NYSE:O Historical Dividend Yield Apr 26th 18
NYSE:O Historical Dividend Yield Apr 26th 18
How well does Realty Income fit our criteria?
Although REITs are expected to payout a high portion of the earnings, Realty Income currently pays out more than double its net income, which suggests that the dividend is not well-covered by earnings by any means. In the near future, analysts are predicting a more sensible payout ratio of 185.99%, leading to a dividend yield of 5.43%. Furthermore, EPS should increase to $1.36, meaning that the lower payout ratio does not necessarily implicate a lower dividend payment. If dividend is a key criteria in your investment consideration, then you need to make sure the dividend stock you’re eyeing out is reliable in its payments. In the case of O it has increased its DPS from $1.65 to $2.63 in the past 10 years. It has also been paying out dividend consistently during this time, as you’d expect for a company increasing its dividend levels. This is an impressive feat, which makes O a true dividend rockstar. Compared to its peers, Realty Income generates a yield of 5.31%, which is high for REITs stocks.
Next Steps:

With this in mind, I definitely rank Realty Income as a strong dividend stock, and makes it worth further research for anyone who likes steady income generation from their portfolio. Given that this is purely a dividend analysis, I recommend taking sufficient time to understand its core business and determine whether the company and its investment properties suit your overall goals. Below, I’ve compiled three fundamental aspects you should further examine:

Future Outlook: What are well-informed industry analysts predicting for O’s future growth? Take a look at our free research report of analyst consensus for O’s outlook.
Valuation: What is O worth today? Even if the stock is a cash cow, it’s not worth an infinite price. The intrinsic value infographic in our free research report helps visualize whether O is currently mispriced by the market.
https://www.yahoo.com/finance/news/read-buying-realty-income-corporation-175434971.html

"PEACE"

Realty Income To Report First Quarter 2018 Operating Results
PR Newswire PR Newswire•April 3, 2018
SAN DIEGO, April 2, 2018 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the company will release its operating results for the quarter ended March 31, 2018 after the market closes on May 8, 2018. The company will host its conference call on May 9, 2018 at 11:30 a.m. PT to discuss the operating results.

"PEACE"

$55 :)

STRONG BUY

Weeeeeeeeee $O

SAN DIEGO, March 27, 2018 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend CompanY®, today announced the pricing of $500 million of senior unsecured notes due 2025. The public offering price for the notes was 99.500% of the principal amount for an effective yield to maturity of 3.957%. The net proceeds from this offering will be used to repay a portion of the borrowings outstanding under our $2.0 billion revolving credit facility and, to the extent not used for that purpose, to fund potential investment opportunities and/or for other general corporate purposes. This offering is expected to close on April 4, 2018, subject to the satisfaction of customary closing conditions.
https://finance.yahoo.com/news/realty-income-prices-500-million-200900019.html

"PEACE"

STRONG BUY

Bought 300 shares:)