Realty Income Lifts Monthly Dividend and Raises 2026 AFFO Guidance

Realty Income raised its monthly common stock dividend to $0.2740 per share from the previous $0.2715 on Tuesday, November 10, 2026. The new payment rate translates to an annualized distribution of $3.288 per share. Investors on the company's books by Monday, November 30, 2026, will receive the payment on Tuesday, December 15, 2026. Management noted that this marks the firm's 137th dividend enhancement since listing on the New York Stock Exchange in 1994.

The dividend declaration follows third-quarter operating updates delivered in early November, in which the real estate investment trust increased its full-year 2026 adjusted funds from operations forecast. Management lifted the target to between $4.45 and $4.46 per share, up from the prior range of $4.44 to $4.45. It also reaffirmed a 10.0 billion US dollar investment-volume goal for the year and raised its occupancy projection to exceed 98.5%.

For the three months ended September 30, adjusted funds from operations grew 3.7% year over year to 1.12 US dollars per diluted share. Net income available to common stockholders rose to 403.9 million US dollars from 315.8 million US dollars in the prior-year period. Distributions paid during the quarter represented 72.6% of diluted adjusted funds from operations, totaling 81.3 cents per share. At the end of September, the portfolio encompassed 15,536 properties leased to 1,842 clients across 96 industries, holding a 98.8% occupancy rate.

Capital deployment totaled 2.6 billion US dollars for the quarter, including a 2.2 billion US dollar pro-rata allocation with an initial weighted average cash yield of 6.8%. International assets featured prominently, with European deals absorbing approximately 940 million US dollars, more than 85 percent of which targeted industrial real estate. The company also placed roughly 250 million US dollars into credit investments.

To finance expansion, the firm widened its funding structure. It established a European joint venture with KKR, which contributed 528.0 million euros for a 49% stake in 54 net-lease properties. Realty Income also closed on 1.0 billion US dollars of 3.750% convertible senior notes maturing in August 2031, finalized about 527 million US dollars in property dispositions, and reported available pro-rata liquidity of 5.4 billion US dollars at the close of September.