Realty Income lifts 2026 AFFO forecast on strong demand, increased investment activity

Realty Income on Wednesday raised its annual adjusted funds from operations (FFO) forecast, citing strong demand and increased investment activity.

Shares of the San Diego, California-based company rose about 1% in after-hours trading.

* The ‌company ⁠said it ⁠expects 2026 adjusted FFO per share to range ​between $4.41 and $4.44, compared with its previous guidance of $4.38-$4.42


* In ​March, Realty Income announced it will get $1 billion from asset manager Apollo Global Management ​APO.N and affiliates for a 49% ⁠interest in ‌a new joint venture ​that ​is expected to own a portfolio ⁠of single-tenant retail properties with long-term net leases.

* ​Maintains its annual same-store rent ​growth guidance at 1.0% to 1.3%

* Realty Income has a portfolio of more than 15,500 properties leased to over 1,786 clients across the retail, restaurant, industrial and gaming ‌industries.

* The company reported adjusted FFO of $1.13 per share for the quarter ​ended ​March 31, ⁠above analysts' estimates of $1.10, according to data compiled by LSEG.

* Realty Income, which counts Walgreens and ​Dollar General among its customers, posted first-quarter revenue of $1.55 billion, compared with estimates of $1.45 billion.

* The company bumped up its full-year investment guidance to $9.5 billion from $8 billion.