Realty Income Q3 Revenues Up 10%, Deploys $1.4B at 7.7% Yield
Realty Income’s Q3 revenues rose 10% to $1.47 billion with AFFO per share of $1.08 and $1.4 billion deployed at a 7.7% cash yield, supporting 2026 acquisition guidance above $6 billion. The REIT owns 15,500+ properties at 98.7% occupancy and has declared 668 consecutive monthly dividends, lifting its annualized payout to $3.24.
1. Q3 Financial Results and Acquisition Activity
In the third quarter of 2025, Realty Income generated $1.47 billion in revenue, a 10% year-over-year increase, and reported AFFO of $1.08 per share. The company deployed approximately $1.4 billion in property acquisitions at an initial cash yield of 7.7%, underpinning its full-year 2026 acquisition guidance above $6 billion.
2. Portfolio Composition and Occupancy
Realty Income’s portfolio spans over 15,500 properties across the United States and Europe, maintaining a 98.7% occupancy rate and a weighted average remaining lease term of roughly nine years. No single tenant accounts for more than 3% of annualized base rent, ensuring broad diversification across sectors and clients.
3. Dividend Track Record and Outlook
The REIT has declared 668 consecutive monthly dividends, including 133 increases in 2025, and currently offers an annualized payout of $3.24 per share, representing a 4.9% yield. Management’s disciplined balance sheet strategy and long-dated leases support durable cash flows and potential dividend growth in 2026.