Realty Income Q3 2026: Revenue Surges 10% but GAAP EPS Misses
As seen on the 24/7 Wall St. homepage on November 2, 2026.
Income investors get a raise and a higher bar: management lifted full-year AFFO guidance to $4.45 to $4.46 per share alongside the 116th consecutive quarterly dividend increase. Revenue topped expectations, while GAAP earnings came in missing expectations on impairment charges.
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Realty Income's third-quarter revenue of $1.62 billion beat expectations, growing 10.3% year over year as its credit platform scaled beyond net-lease roots.
Reported GAAP EPS of $0.43 came in missing expectations, weighed down by real estate impairment and credit loss provisions.
AFFO per diluted share rose 3.7% to $1.12, and management lifted full-year AFFO guidance while reaffirming its $10 billion investment volume target.
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The company announced its 116th consecutive quarterly dividend increase, lifting the annualized dividend to $3.258 per share as of September 30, 2026.
Realty Income invested $2.6 billion in the quarter at a 6.8% initial weighted average cash yield, and a new KKR joint venture covering 54 European net-lease properties advances the private capital platform. Equity needs are fully prefunded for the rest of the year.
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