Realty Income Q2 2026: AFFO rises 3.8% despite GAAP miss

As seen on the 24/7 Wall St. homepage on August 5, 2026.

O Realty Income
Q2 2026
EPS
$0.37
est $0.42 -12.5%
Revenue
$1.55B
est $1.44B +7.3%

The GAAP miss carries $54.2 million of impairments, but AFFO per share rose 3.8% to $1.09 and management lifted full-year AFFO guidance to a range of $4.44 to $4.45. Investment volume plans rise to $10 billion for this monthly dividend payer, with a $6 billion hyperscale data center joint venture now the growth story.

Continue ReadingShow less

Realty Income reported Q2 2026 GAAP earnings per share of $0.37, falling about 12% short of the $0.4227 consensus estimate. The headline miss is largely explained by $54.2 million in impairment charges that weighed on the GAAP figure. On the revenue side, the company posted $1.55 billion, beating estimates of roughly $1.44 billion by more than 7%.

The more closely watched operating metric for REITs tells a healthier story. Adjusted funds from operations — AFFO — rose 3.8% to $1.09 per share, and management followed that up by lifting full-year AFFO guidance to a range of $4.44 to $4.45. Investment volume plans were also raised, now targeting $10 billion for the year.

Disclosure

1 INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA( www.finra.org )/SIPC( www.sipc.org ). 2 The probability of a member receiving $3,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Members must fund their account with a minimum of $50.00 to qualify. The probability percentage is subject to decrease. Members are only eligible for the Stock Award promotion upon opening their first brokerage account; subsequent cash brokerage accounts are ineligible for the promo, including for members with multiple accounts. 3Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. 4There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.

SoFi Active Invest is offering a limited-time promotion. Open an account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock for Active Invest accounts. See for yourself by clicking here now. (Sponsor)

The headline growth story is a $6 billion hyperscale data center joint venture, which gives this monthly dividend payer a significant new avenue for capital deployment. Looking back over the past eight quarters, Realty Income has now missed the GAAP EPS consensus in every period reported — a pattern that underscores why investors tend to focus on AFFO rather than net income when evaluating the stock.

Mentioned: O