Realty Income Q2 2026: AFFO per Share Rises 3.8% to $1.09; $5.3B Invested in H1 at 7.2% Yield
O is trading near its 52-week low of $55.86 (15% above the low).
Summary
Realty Income posted Q2 2026 AFFO of $1.09 per share, up 3.8% year-over-year, on revenue growth of 9.7%. The company invested $5.3 billion in H1 at a 7.2% yield and raised its monthly dividend for the 115th consecutive quarter.
Key Events · Earnings and Guidance · O
-
AFFO per Share Rises 3.8%
Driven by a 9.7% increase in total revenue to $1.55 billion, Q2 2026 AFFO per share reached $1.09, up from $1.05 in Q2 2025.
-
$5.3B Invested at 7.2% Yield
In H1 2026, Realty Income deployed $5.3 billion (pro-rata share $4.7 billion) across 338 properties, developments, and loans, achieving an initial weighted average cash yield of 7.2%.
-
Portfolio Occupancy at 98.8%
As of June 30, 2026, the portfolio comprised 15,588 properties with 98.8% occupancy and annualized base rent of $5.28 billion. Same-store rental revenue grew 1.0% in Q2.
-
Balance Sheet Strengthened
Net Debt/Annualized Pro Forma Adjusted EBITDAre stood at 5.4x. In July 2026, the revolving credit facility was expanded to $5.5 billion and commercial paper programs to $5.5 billion combined capacity.
Analysis · O · Real Estate & Construction
A solid quarter for Realty Income saw AFFO per share climb 3.8% year-over-year to $1.09, fueled by a 9.7% revenue gain and disciplined capital deployment. The company put $5.3 billion to work in the first half at an initial cash yield of 7.2%, while occupancy held firm at 98.8%. The balance sheet remains well-capitalized with $5.5 billion in expanded credit facilities and net debt to EBITDAre of 5.4x. Marking the 115th consecutive quarterly increase, the monthly dividend now yields 5.2%. These results underscore the company's ability to grow earnings and dividends through accretive investments and active capital markets execution.
How filings like this one have moved
In the 30 days to Sep 20, 2026, 29.6% of the 1592 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, O was trading at $64.05 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $58.5B. The 52-week trading range was $55.86 to $67.94. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.