O · Earnings call · 2026Q2T · Full report
Guidance / Outlook
REALTY INCOME CORP · 2026-08-05 · Importance 66 · Surprise 68 · In source text
Realty Income raised its 2026 full-year AFFO per share guidance midpoint by $0.02 to a range of $4.44 to $4.45, representing approximately 4% growth at the midpoint. Total 2026 investment-volume guidance increased from $9.5 billion to $10 billion, with approximately $9 billion expected on Realty Income’s balance sheet. Management cited better visibility into investment closings, yields, debt and equity financing, FX execution, and pipeline timing. Full-year credit-loss guidance remains approximately 40 basis points of rental revenue, while lease termination income guidance remains $45 million to $50 million.
Key facts
- Recorded approximately $1 million of lease termination income in Q2 and continue to expect $45 million to $50 million for the full year 2026
- Guidance drivers for the $0.02 AFFO increase included higher visibility on deal pipeline, timing of closings, capital markets execution being derisked and improved funding visibility
- 2026 full-year AFFO per share guidance range increased to $4.44 to $4.45 with a $0.02 increase in the guidance midpoint
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | — | Recorded approximately $1 million of lease termination income in Q2 and continue to expect $45 million to $50 million for the full year 2026 |
| net_income | positive | committed | — | 2026 full-year AFFO per share guidance range increased to $4.44 to $4.45 with a $0.02 increase in the guidance midpoint |