Key facts: Realty Income Raises AFFO; Issues $1B Notes; Forms KKR JV

Realty Income (O) raised its 2026 AFFO guidance to $4.45-$4.46 per share and plans to deploy $10B in capital this year. Q3 AFFO was $1.12 per share, up 3.7% YoY. The company invested $2.6B, including $940M in Europe, and sourced $59B in potential investments. It also completed $527M in dispositions and issued $1.6B in notes.

Realty Income reported Q3 2026 revenue of $1.62B, up 10.3% YoY, with net income rising 27.9% to $403.9M and EPS increasing 22.9% to $0.43. The company invested $7.9B in properties and ventures, maintaining 98.8% occupancy.

Realty Income (O) reported Q3 2026 investments of $2.2B, with 42% in Europe at a 7.1% yield. Industrial was the largest sector, with $1.15B invested at a 6.5% yield. The company also made $250M in credit investments. Dispositions totaled $527M, with proceeds used for reinvestment. The company has $5.4B in liquidity and a 5.4x net debt/EBITDA ratio. Investment spreads were 170 basis points.

Realty Income Corp. (O) reported Q3 funds from operations of $1.06B ($1.12/share), exceeding analyst estimates of $1.11/share. Revenue was $1.62B, also beating forecasts. The REIT expects full-year funds from operations between $4.45 and $4.46 per share.

Realty Income (O) reported Q3 earnings, highlighting a logistics-park acquisition and credit investments totaling $250M. The company expects to achieve 45% mark-to-market rent increases within 3.5 years. CFO Jonathan Pong noted $5.4B in liquidity and a 5.4x net debt to EBITDA ratio. Realty Income issued €600M in senior unsecured notes and $1B in convertible notes. The company also formed a joint venture with KKR and completed $527M in property sales.

Realty Income Corporation (O) plans to invest $10 billion by 2026 and has raised its adjusted funds from operations (AFFO) per share guidance to $4.45-$4.46. The company's updated outlook reflects its investment strategy and financial performance expectations.