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Realty Income raises full-year outlook as industrial and European investments drive Q2 AFFO growth

8/9/2026

Net lease commercial real estate has been gradually recalibrating to a post-peak-rate environment, with institutional capital rotating toward contractual income and durable occupancy.

Realty Income (NYSE: O) reported second-quarter results on that theme, posting adjusted funds from operations of $1.09 per share for the period ended June 30, 2026, up 3.8% from a year earlier, and raising its full-year AFFO guidance to $4.44 to $4.45 per share.

Chief Executive Officer Sumit Roy said the midpoint implies approximately 4% annual growth and reflects a $0.02 increase from the prior target.

Industrial assets and European deployment The quarter's capital deployment was anchored in industrial real estate, which represented about 65% of global real estate acquisition volume.

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