Realty Income Q3 Revenue Beats, Raises 2026 AFFO Outlook

Realty Income Corporation reported net income of $403.9 million, or $0.43 per share, for the third quarter ended September 30, 2026. Adjusted Funds from Operations (AFFO) reached $1.12 per share, representing a 3.7% increase compared to the same period in 2025. The company invested $2.6 billion during the quarter at an initial weighted average cash yield of 6.8%. Following these results, management raised its 2026 AFFO per share guidance to a range of $4.45—$4.46 while reaffirming its $10.0 billion annual investment volume target. Additionally, the company noted a rent recapture rate of 103.5% on re-leased properties and highlighted the expansion of its private capital platform into Europe through a joint venture with KKR.