01—Abstract
Summary
Summary of the 10-Q filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.
Realty Income Corporation (O) reported its financial results for the quarter ended March 31, 2026.
The company demonstrated solid revenue growth, with total revenue increasing by approximately 12.2% year-over-year to $1.55 billiona. This growth was primarily driven by a significant increase in rental revenue, up 12.1% to $1.44 billion, supported by property acquisitions and same-store rent growth. Net income available to common stockholders saw a substantial increase of 24.8% to $311.8 million.
This positive performance was bolstered by strong operational execution, effective expense management, and growth in its investment portfolio. The company also continued its commitment to returning capital to shareholders through consistent dividend payments, highlighting its stable income-generating model.
02—Key points
Key Highlights
- Total revenue increased by 12.2% to $1.55 billion for the quarter ended March 31, 2026, compared to the same period in 2025.
- Rental revenue (including reimbursements) grew by 12.1% to $1.44 billion, driven by property acquisitions and same-store rent growth.
- Net income available to common stockholders rose by 24.8% to $311.8 million for the quarter.
- The company continues its track record of monthly dividend payments, with an annualized dividend of $3.246 per share as of March 31, 2026.
- Total assets grew to $74.55 billion as of March 31, 2026, reflecting continued investment in real estate.
- The company actively managed its portfolio by investing $2.8 billion in the quarter, including property acquisitions and loan investments.
- Realty Income maintained a high occupancy rate of 98.9% across its 15,571 properties as of March 31, 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 7, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $1.55B$1.38B | +12.2% |
| Operating Expenses | $1.24B$1.14B | +8.1% |
| Net Income | $320.94M$249.81M | +28.5% |
| EPS (Basic) | $0.33$0.28 | +17.9% |
| EPS (Diluted) | $0.33$0.28 | +17.9% |
| Shares Outstanding (Basic) | 931.98M891.67M | +4.5% |
| Shares Outstanding (Diluted) | 934.45M892.35M | +4.7% |
05—Questions
Frequently Asked Questions
How did Realty Income's revenue perform in the first quarter of 2026?
Realty Income reported a total revenue of $1.55 billion for the quarter ended March 31, 2026, representing a significant increase of 12.2% compared to $1.38 billion in the same period of 2025. This growth was primarily driven by a 12.1% increase in rental revenue to $1.44 billion, supported by recent acquisitions and same-store rent increases.
What is the company's net income and profitability trend?
Net income available to common stockholders for the first quarter of 2026 was $311.8 million, a 24.8% increase from $249.8 million in the first quarter of 2025. This demonstrates continued improvement in profitability, driven by revenue growth and effective operational management.
How is Realty Income returning capital to shareholders?
Realty Income maintained its commitment to shareholders by declaring consistent monthly dividends. As of March 31, 2026, the annualized dividend was $3.246 per share, reflecting the company's strategy of providing dependable income streams. The company also repurchased 1.8 million shares of its common stock for $101.9 million during the quarter.
What are the key balance sheet highlights and investment activities?
Total assets grew to $74.55 billion as of March 31, 2026. The company actively invested $2.8 billion during the quarter, including property acquisitions, development projects, and loan investments. The portfolio remains well-occupied at 98.9% across its 15,571 properties.
06—Continue