Realty Income Corporation (O) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Realty Income fourth quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touch-tone phone. And to withdraw your question, please press star then two. Please note this event is being recorded I would now like to turn the conference over to Ms. Lauren Flaming, Manager, Capital Markets and Investor Relations. Please go ahead, ma'am. Thank you for joining Realty Income's fourth quarter and full year 2025 Operating Results Conference Call. Discussing our results are Sumit Roy, President and Chief Executive Officer, Jonathan Pong, Chief Financial Officer and Treasurer, Neil Abraham, President, Realty Income International, and Mark Hagan, Chief Investment Officer. During this conference call, we will make statements that may be considered forward-looking statements under federal securities law. The company's actual future results may differ significantly from the matters discussed in any forward-looking statements. We will disclose in greater detail the factors that may cause such differences in the company's filing on Form 10-K. During the Q&A portion of the call, we will be observing a two-question limit. If you would like to ask additional questions, you may re-enter the queue. I will now turn the call over to our CEO, Sumit Roy. Thank you, Lauren. Welcome, everyone. 2025 was a year in which our platform, discipline, and global reach came together to deliver steady results and position RealtyIncome for its next chapter of growth. We delivered AFFO per share of $1.08 for the f...