O · 8-K · 20260805PR000044

Operating Expense Trends

REALTY INCOME CORP · 2026-08-05 · Importance 46 · Surprise 22 · No source text

Second-quarter general and administrative expense increased 16.8% year over year to $57.6 million from $49.3 million, and six-month G&A expense rose to $116.5 million from $93.4 million. Second-quarter interest expense increased 10.0% to $312.1 million from $283.8 million, while six-month interest expense rose to $604.0 million from $552.2 million. Merger, transaction, and other costs increased to $2.1 million in the quarter and $12.8 million for the first six months, compared with $0.3 million and $0.6 million, respectively, in the prior-year periods.

Key facts

• Property expenses (non-reimbursable) guidance for 2026: Approx 1.5% of total revenue; YTD actual at June 30, 2026: 1.4% source
• Cash G&A expenses guidance for 2026: 21 - 22 basis points of total Gross Asset Value (prior 20 - 23 bps); YTD actual at June 30, 2026: 11 bps source
• Depreciation and amortization expense for the three months ended June 30, 2026: $644,677 thousand source
• Interest expense for the three months ended June 30, 2026: $312,083 thousand source
• Provisions for impairment of real estate for the three months ended June 30, 2026: $54,185 thousand source
• General and administrative expense for the three months ended June 30, 2026: $57,605 thousand source
• Merger, transaction, and other costs, net for the three months ended June 30, 2026: $2,058 thousand source
• Provisions for credit losses on loans and financing receivables for the three months ended June 30, 2026: $7,258 thousand source

Impact estimates