Realty Income Announces Operating Results for the Three and Six Months Ended June 30, 2025

About this update from Realty Income Corporation

[{"type":"text","content":" SAN DIEGO , Aug. 6, 2025 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company ® , today announced operating results for the three and six months ended June 30, 2025 . All per share amounts presented in this press release are on a diluted per common share basis unless stated otherwise.","length":325,"tagName":"p"},{"type":"image","alt":"Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation) (PRNewsfoto/Realty Income Corporation)","displaySize":"","headline":null,"caption":"Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation) (PRNewsfoto/Realty Income Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":109,"url":"https://media.zenfs.com/en/prnewswire.com/c6afb52e5b77caee4e02b4173512f61a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/AzPLYwOBpoy_BkIhYxacVQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE5MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/c6afb52e5b77caee4e02b4173512f61a","width":400,"height":109}},"href":"https://mma.prnewswire.com/media/122541/Realty_Income_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":" COMPANY HIGHLIGHTS : ","length":19,"tagName":"p","attribs":{}},{"type":"text","content":" For the three months ended June 30, 2025 : ","length":41,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income available to common stockholders was $196.9 million , or $0.22 per share","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted Funds from Operations ("AFFO") per share was $1.05 per share","length":79,"tagName":"p"}]},{"val":[{"type":"text","content":"Invested $1.2 billion at an initial weighted average cash yield of 7.2%","length":71,"tagName":"p"}]},{"val":[{"type":"text","content":"Net Debt to Annualized Pro Forma Adjusted EBITDA re was 5.5x","length":59,"tagName":"p"}]},{"val":[{"type":"text","content":"Settled 11.2 million shares of outstanding forward sale agreements through our At-The-Market ("ATM") program for gross proceeds of $628.7 million ","length":155,"tagName":"p"}]},{"val":[{"type":"text","content":"ATM forward agreements for a total of 11.6 million shares remain unsettled with total expected net proceeds of approximately $654.3 million , of which 4.0 million were sold in July 2025 ","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"In June 2025 , issued €650.0 million of 3.375% senior unsecured notes due June 2031 , and €650.0 million of 3.875% senior unsecured notes due June 2035 ","length":149,"tagName":"p"}]},{"val":[{"type":"text","content":"Achieved a rent recapture rate of 103.4% on properties re-leased","length":64,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":843,"olType":false},{"type":"text","content":" CEO Comments ","length":12,"tagName":"p"},{"type":"text","content":""Realty Income's ability to deliver attractive, consistent total operational returns across economic cycles reflects the fundamental strength of our platform, combining the benefits of scale, diversification, and disciplined execution," said Sumit Roy , Realty Income's President and Chief Executive Officer. "As demand for durable income solutions accelerates amidst a growing retiree demographic, and as corporations increasingly seek to unlock capital from real estate, we believe our model is well-positioned to thrive."","length":551,"tagName":"p"},{"type":"text","content":""Underscoring the power and breadth of this platform, we deployed $1 .2 billion into investments during the second quarter at an initial weighted average cash yield of 7.2%. These results were bolstered by our growing presence in Europe , which accounted for 76% of our investment volume. Supported by consistent first half operating results and a robust pipeline of opportunities, we're pleased to increase our 2025 investment guidance to approximately $5.0 billion and raise the low-end of our AFFO per share guidance to a range of $4.24 - $4.28 ."","length":576,"tagName":"p"},{"type":"text","content":""With global reach for product, a data-driven approach to underwriting and portfolio management, and access to a deep and diverse pool of capital, Realty Income offers a unique value proposition. Looking ahead, we remain focused on generating favorable risk-adjusted returns and delivering consistent, long-term value to our shareholders."","length":349,"tagName":"p"},{"type":"readMore"},{"type":"text","content":" Select Financial Results ","length":24,"tagName":"p"},{"type":"text","content":"The following summarizes our select financial results (dollars in millions, except per share data):","length":99,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" Three months ended ","length":18,"tagName":"p","attribs":{}},{"type":"text","content":" June 30, ","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" Six months ended ","length":16,"tagName":"p","attribs":{}},{"type":"text","content":"  June 30, ","length":8,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" 2025 ","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" 2024 ","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" 2025 ","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" 2024 ","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":" Total revenue 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","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" $                   955.7 ","length":115,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" $                   929.1 ","length":115,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" $               1,893.4 ","length":93,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" $               1,714.8 ","length":93,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":" FFO per share  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Cash Income used in the calculation of Initial Weighted Average Cash Yield for investments for the three and six months ended June 30, 2025 includes $2.7 million and $3.5 million, respectively, received as settlement credits as reimbursement of free rent periods. Please see the Glossary for our definitions of Initial Weighted Average Cash Yield and Cash Income. 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