Earnings call transcript: Realty Income tops Q3 2026 forecasts, raises outlook

Realty Income reported stronger-than-expected earnings and revenue in Q3 2026, topping Wall Street's forecasts and raising its outlook for the year. The real estate investment trust posted adjusted earnings per share of $0.43, surpassing the $0.41 consensus estimate, and revenue of $1.62 billion, exceeding the $1.43 billion forecast by 13.29%.

Management raised full-year AFFO (Adjusted Funds From Operations) per share guidance to $4.45 to $4.46, and lowered credit loss expectations to about 30 basis points from 40 basis points. Occupancy guidance increased to above 98.5%, indicating stable portfolio performance. The company also reported $5.4 billion of available liquidity and multiple funding sources, reflecting the benefits of its diversified capital allocation model and growing activity in various property types and geographies.

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