Realty Income stock keeps focus on raised 2026 AFFO outlook

Realty Income raised its 2026 adjusted funds from operations outlook after reporting stronger third-quarter results on November 2. Investor Data Digest reported that AFFO increased 3.7% year over year to 1.12 US dollars per share, while the net-lease real estate investment trust maintained its investment pace.

The company now expects 2026 AFFO of 4.45 to 4.46 US dollars per share, compared with its previous range of 4.44 to 4.45 US dollars. Realty Income also reaffirmed its 10.0 billion US dollar investment-volume target and had invested 7.9 billion US dollars through September, according to the report.

Stronger quarter supports outlook

Third-quarter revenue rose 10.3% year over year to 1.62 billion US dollars from 1.47 billion US dollars. Net income available to common stockholders increased to 403.9 million US dollars, or 0.43 US dollars per share, from 315.8 million US dollars, or 0.35 US dollars per share.

Realty Income invested 2.6 billion US dollars during the quarter. Europe accounted for 940.1 million US dollars of that volume, while the company continued to broaden its capital-allocation approach across property, credit and private-capital investments. Portfolio occupancy stood at 98.8% across 15,536 properties leased to 1,842 clients.

Management raised its occupancy outlook to above 98.5%. It also reduced its expected credit-loss assumption to approximately 30 basis points from 40 basis points and lowered its expected nonreimbursable expense leakage range to 1.3% to 1.5%. The company left same-store rent growth guidance at 1.1% to 1.3% but reduced its 2026 net-income outlook to 1.55 to 1.56 US dollars per share from 1.59 to 1.60 US dollars.

CEO Sumit Roy said the quarter reflected the resilience of Realty Income's business model and the execution of its team. The company said its equity needs for the rest of the year were fully prefunded, while the fourth-quarter investment pipeline remained active.

Monthly income remains central

Realty Income declared its 676th consecutive common-stock monthly dividend on October 13. The 0.2715 US dollar payment is scheduled for Friday, November 13, for shareholders of record as of October 30, according to the company announcement.

Realty Income stock traded at 53.10 euros on Lang & Schwarz at 14:27 CET on Monday, November 9, 2026. Investors can follow the real-time quote of Realty Income stock.

The S&P 500 provides the broader US equity-market backdrop for Realty Income and other large-cap stocks.

Read more news and analyses on Realty Income stock.