NYSE: O
REALTY INCOME CORPCIK 0000726728 · SIC 6798 · Real Estate Investment Trusts
Information regarding legal proceedings is included in note 22, Commitments and Contingencies, to the consolidated financial statements. About this business →
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Realty Income prices $875M convertible notes at 3.750%, upsized from $750M
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Realty Income announces $750M convertible notes offering and $2.6B Q2 acquisitions
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Realty Income Q2 2026: Net income +86.2% to $370.5M; invested in H1 at 7.2% yield
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Realty Income reports Q2 AFFO up 3.8% to $1.09/share, raises 2026 guidance on $2.6B investments
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Realty Income expands credit facilities to $5.5B and commercial paper programs to $5.5B
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Realty Income closes €600M euro bond offering at 3.625% due 2032
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Realty Income prices €600M senior notes at 3.625% due 2032
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Realty Income prices €600 million of 3.625% senior unsecured notes due 2032
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Realty Income discloses $800M debt raise, 150M-share ATM program, $4.0B liquidity
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Realty Income prices euro-denominated senior notes due 2032; principal amount and rate not disclosed
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Realty Income completes routine 2026 Annual Meeting, elects 11 directors
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Realty Income launches $150M ATM equity program with forward sale options
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revenue $1.55B, net income $320.9M. Realty Income launches + institutional partnerships, issues convertibles, doubles Q1 investment
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Realty Income reports Q1 2026 earnings, posts supplemental financial data
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Realty Income closes $800M debt offering with 4.750% Notes due 2033
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income and Comprehensive Income (Unaudited)
(in thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| REVENUE | ||||
| Rental (including reimbursements) | 1,426,467 | 1,338,188 | 2,867,284 | 2,651,245 |
| Interest income on financing receivables | 32,024 | 32,382 | 64,154 | 65,017 |
| Interest and dividend income on loans and preferred equity investments | 88,517 | 39,480 | 158,627 | 74,216 |
| Other | 703 | 328 | 6,373 | 405 |
| Total revenue | 1,547,711 | 1,410,378 | 3,096,438 | 2,790,883 |
| EXPENSES | ||||
| Depreciation and amortization | 644,677 | 647,849 | 1,274,952 | 1,256,784 |
| Interest | 312,083 | 283,824 | 604,023 | 552,198 |
| Property (including reimbursements) | 112,439 | 107,422 | 229,282 | 214,103 |
| General and administrative | 57,605 | 49,329 | 116,490 | 93,373 |
| Provisions for impairment of real estate | 54,185 | 142,255 | 144,350 | 239,673 |
| Provisions for credit losses on loans and financing receivables | 7,258 | 1,108 | 46,361 | 20,279 |
| Merger, transaction, and other costs, net | 2,058 | 331 | 12,845 | 610 |
| Total expenses | 1,190,305 | 1,232,118 | 2,428,303 | 2,377,020 |
| Gain on sales of real estate | 38,260 | 38,566 | 73,902 | 61,103 |
| Foreign currency and derivative loss, net | (8,824) | (4,388) | (25,844) | (6,933) |
| Equity in earnings of unconsolidated entities | 2,204 | 3,269 | 4,873 | 7,626 |
| Other income, net | 7,275 | 7,369 | 22,385 | 14,536 |
| Income before income taxes | 396,321 | 223,076 | 743,451 | 490,195 |
| Income taxes | (25,808) | (24,065) | (52,003) | (39,722) |
| Net income | 370,513 | 199,011 | 691,448 | 450,473 |
| Net income attributable to noncontrolling interests | (26,558) | (2,092) | (35,727) | (3,739) |
| Net income available to common stockholders | 343,955 | 196,919 | 655,721 | 446,734 |
| Amounts available to common stockholders per common share: | ||||
| Net income, basic and diluted | 0.37 | 0.22 | 0.70 | 0.50 |
| Weighted average common shares outstanding: | ||||
| Basic | 932,307 | 902,966 | 932,133 | 897,338 |
| Diluted | 934,662 | 903,716 | 934,435 | 898,115 |
| Net income available to common stockholders | 343,955 | 196,919 | 655,721 | 446,734 |
| Other comprehensive income: | ||||
| Foreign currency translation adjustment | 1,118 | 54,425 | (14,999) | 99,640 |
| Unrealized (loss) gain on derivatives, net | (43,550) | (31,464) | 4,782 | (42,089) |
| Total other comprehensive income | (42,432) | 22,961 | (10,217) | 57,551 |
| Comprehensive income available to common stockholders | 301,523 | 219,880 | 645,504 | 504,285 |
Consolidated Balance Sheets (Unaudited)
(in thousands, except per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Real estate held for investment, at cost: | ||
| Land | 18,906,217 | 18,368,029 |
| Buildings and improvements | 45,672,483 | 43,824,410 |
| Total real estate held for investment, at cost | 64,578,700 | 62,192,439 |
| Less accumulated depreciation and amortization | (9,466,261) | (8,778,536) |
| Real estate held for investment, net | 55,112,439 | 53,413,903 |
| Real estate and lease intangibles held for sale, net | 153,134 | 91,784 |
| Cash and cash equivalents | 552,648 | 434,842 |
| Accounts receivable, net | 1,134,987 | 1,053,487 |
| Lease intangible assets, net | 5,616,706 | 5,717,241 |
| Goodwill | 4,932,199 | 4,932,199 |
| Investment in loans and financing receivables, net | 4,888,860 | 3,271,002 |
| Investment in unconsolidated entities | 1,348,453 | 1,256,456 |
| Other assets, net | 2,702,049 | 2,624,698 |
| Total assets | 76,441,475 | 72,795,612 |
| LIABILITIES AND EQUITY | ||
| Distributions payable | 259,252 | 255,171 |
| Accounts payable and accrued expenses | 1,119,132 | 1,060,969 |
| Lease intangible liabilities, net | 1,457,071 | 1,493,958 |
| Other liabilities | 1,020,290 | 1,066,809 |
| Revolving credit facilities and commercial paper | 2,762,585 | 2,023,414 |
| Term loans, net | 2,760,395 | 1,701,615 |
| Mortgages payable, net | 37,085 | 37,761 |
| Notes payable, net | 25,091,588 | 25,031,947 |
| Total liabilities | 34,507,398 | 32,671,644 |
| Commitments and contingencies (Note 18) | ||
| Stockholders’ equity: | ||
| Common stock and paid in capital, par value $0.01 per share, 1,300,000 shares authorized, 946,202 and 933,975 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 50,845,906 | 49,861,660 |
| Distributions in excess of net income | (11,391,151) | (10,527,984) |
| Accumulated other comprehensive income | 94,802 | 105,019 |
| Total stockholders’ equity | 39,549,557 | 39,438,695 |
| Noncontrolling interests | 2,384,520 | 685,273 |
| Total equity | 41,934,077 | 40,123,968 |
| Total liabilities and equity | 76,441,475 | 72,795,612 |
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | 691,448 | 450,473 |
| Adjustments to net income: | ||
| Depreciation and amortization | 1,274,952 | 1,256,784 |
| Amortization of share-based compensation | 20,651 | 14,009 |
| Non-cash revenue adjustments | (48,283) | (52,425) |
| Amortization of net discounts on mortgages payable | 151 | 137 |
| Amortization of net discounts on notes payable | 14,563 | 1,561 |
| Amortization of deferred financing costs | 17,945 | 13,082 |
| Foreign currency and unrealized derivative gain, net | (34,223) | (46,060) |
| Non-cash interest rate swaps | (3,097) | 1,606 |
| Payment-in-kind interest | (6,491) | — |
| Gain on sales of real estate | (73,902) | (61,103) |
| Equity in earnings of unconsolidated entities | (4,873) | (7,626) |
| Distributions on common equity from unconsolidated entities | 11,833 | 21,689 |
| Provisions for impairment of real estate | 144,350 | 239,673 |
| Provisions for credit losses on loans and financing receivables | 46,361 | 20,279 |
| Deferred income tax expense | 1,718 | 309 |
| Change in assets and liabilities | ||
| Accounts receivable and other assets | (124,270) | (57,102) |
| Accounts payable, accrued expenses and other liabilities | 90,752 | 52,899 |
| Net cash provided by operating activities | 2,019,585 | 1,848,185 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Investment in real estate | (3,549,763) | (2,214,524) |
| Improvements to real estate, including leasing costs | (83,506) | (49,176) |
| Investment in unconsolidated entities | (97,366) | (9,819) |
| Investment in loans and preferred equity | (1,660,249) | (423,157) |
| Proceeds from sales of real estate | 348,634 | 209,414 |
| Proceeds from note receivable | 17,656 | 14,802 |
| Insurance proceeds received | 845 | 2,079 |
| Non-refundable escrow deposits | (3,621) | — |
| Net cash used in investing activities | (5,027,370) | (2,470,381) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash distributions to common stockholders | (1,514,811) | (1,439,274) |
| Borrowings on revolving credit facilities and commercial paper programs | 43,382,744 | 10,628,935 |
| Payments on revolving credit facilities and commercial paper programs | (42,616,939) | (10,464,748) |
| Proceeds from term loan | 1,073,900 | — |
| Principal payment on term loan | — | (500,000) |
| Proceeds from notes payable issued | 1,662,500 | 2,091,750 |
| Principal payment on notes payable | (1,424,997) | (500,000) |
| Principal payments on mortgages payable | (858) | (43,788) |
| Repurchases of common stock | (101,915) | — |
| Proceeds from common stock offerings, net | 824,136 | 1,247,019 |
| Proceeds from dividend reinvestment and stock purchase plan | 6,145 | 5,917 |
| Distributions to noncontrolling interests | (17,750) | (5,976) |
| Contributions from noncontrolling interests, net of costs | 1,875,349 | — |
| Debt issuance costs | (44,957) | (64,882) |
| Other financing activities, net | 5,403 | (9,507) |
| Net cash provided by financing activities | 3,107,950 | 945,446 |
| Effect of exchange rate changes on cash and cash equivalents | (5,559) | 22,980 |
| Net increase in cash, cash equivalents and restricted cash | 94,606 | 346,230 |
| Cash, cash equivalents and restricted cash, beginning of period | 520,756 | 495,506 |
| Cash, cash equivalents and restricted cash, end of period | 615,362 | 841,736 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About REALTY INCOME CORP
Source: Item 1 (Business) from the 10-K filed February 25, 2026. Description as filed by the company with the SEC.
Item 1.
Item 3: Legal Proceedings
Information regarding legal proceedings is included in note 22, Commitments and Contingencies, to the consolidated financial statements.
Item 4: Mine Safety Disclosures
None.