O Realty Income

company

SEC Filings & Insider Trading Activity 2026

Management Discussion & Analysis

• • Total revenue $5.75B, up $478M (+9.1%) YoY; rental revenue (ex-reimbursements) $5.10B, up $356M driven by acquisitions and same-store growth of 1.3%
• • Net income $1.06B; G&A as % of revenue 3.7% vs 3.6%; no operating margin disclosed, but AFFO per share $4.28 vs $4.19 (+2.1%) and Normalized FFO per share $4.27 vs $4.12 (+3.6%)
• • Invested $6.3B at 7.3% initial weighted average cash yield; disposed 425 properties for $744M net proceeds; capex commitments $848M (construction contracts + tenant improvements)
• • Raised $2.4B equity via ATM at avg $56.14/share; dividends paid $2.92B ($3.217/share, up 2.9% YoY); $2.0B buyback authorized Feb 2025, zero shares repurchased in 2025
• • Key risks: macroeconomic uncertainty, global trade policy changes, FX volatility ($28.7M net loss vs $3.4M gain in 2024); Fund targeting $1.7B commitments cap with close expected by March 2026

Business Overview

• • Net lease REIT owning 15,500+ freestanding commercial properties across all 50 US states and 9 countries, collecting contractually defined rent under long-term agreements
• • Real estate credit portfolio doubled to $3.1B from $1.5B YoY; new country entries in Poland, Netherlands; post-period initial investment in Mexico via joint venture
• • Europe/UK share of annualized base rent grew to ~19% from ~14% YoY, with international acquisitions representing ~60% of total 2025 acquisition volume
• • $48.9M in lease termination income recognized in 2025; predictive analytics platform evaluated $50B+ in total transaction volume to date
• • 544-person workforce managing $5.3B in total portfolio annualized base rent — notably lean ratio highlighting platform's operational scalability

Risk Factors

• • REIT qualification under IRC Sections 856–860 requires 95% gross income from qualifying sources and 90% taxable income distribution annually; failure triggers corporate tax and 4-year disqualification
• • $25.3B unsecured senior debt outstanding including ~$5.4B Sterling-denominated and $2.8B Euro-denominated, exposing earnings to FX volatility
• • U.K. RPI-to-CPIH migration risk: lease revenue tied to RPI faces reduction as government transitions to lower inflation measure
• • Gaming property concentration risk: highly regulated assets difficult to re-lease if client loses license; limited alternative operators in non-gaming geographies
• • $4.0B unsecured credit facility plus $3.0B commercial paper program carry variable rates, with $1.7B multicurrency term loan borrowings outstanding as of Dec 31, 2025

Management Discussion & Analysis

• • Revenue $1.471B, up $139.6M (+10.5%) YoY for Q3 2025; rental revenue (excl. reimbursements) up $107.2M, same store rental revenue +1.3%
• • Operating expenses rose with general/admin 4.0% of revenue vs 3.3% YoY, property expenses 1.7% vs 1.4% YoY; Depreciation +4.9%, Interest +12.7% YoY
• • Best segment: Properties acquired drove $90.3M rental revenue increase Q3; Worst: Provisions for impairment decreased net profitability by $9.9M in Q3
• • Cash & liquidity $3.5B including $417.2M cash, $864.2M ATM expected proceeds, $2.2B credit facility availability; Invested $1.4B in Q3, sold $214.8M properties
• • Management expects continued dividend growth with 5 raises in 2025 totaling 3.1% increase YoY, maintains $3.234 annualized dividend/share (5.3% yield)

Risk Factors

• • No new risk factors added in current quarter, continuation of risks from 2024 10-K
• • No material changes to previously disclosed risks since 2024 annual report
• • Maintained exposure to market volatility and economic uncertainty impacting occupancy and rental rates
• • Continued sensitivity to interest rate fluctuations affecting borrowing costs and cash flow
• • Regulatory compliance risks carried forward, including environmental laws affecting property operations

What are the latest O SEC filings in 2026?

Realty Income (O) has filed a 10-K annual report on February 25, 2026, a 10-Q quarterly report on November 4, 2025, an 8-K current report on August 5, 2026 with the SEC. SignalX tracks every new SEC EDGAR filing daily, including 10-K, 10-Q, 8-K, and Form 4 insider transactions, with AI-powered summaries of key sections.

When did O file its most recent 10-K annual report?

Realty Income (O) filed its most recent 10-K annual report on February 25, 2026. The 10-K includes audited financial statements, business overview, risk factors, and management discussion, all available on SignalX with AI-generated summaries and XBRL financial data.

How do I view O 10-Q quarterly reports?

Realty Income (O)'s most recent 10-Q quarterly report was filed on November 4, 2025. SignalX displays every O 10-Q with AI-generated summaries of the MD&A (Management Discussion & Analysis) and Risk Factors sections, plus links to the original SEC EDGAR document.

What 8-K current reports has O filed recently?

Realty Income (O)'s most recent 8-K was filed on August 5, 2026. 8-K filings disclose material corporate events such as earnings releases, executive changes, mergers, and other significant developments. SignalX surfaces each 8-K with item-level summaries so you can quickly see what happened.

Where can I find O insider trading activity (Form 4)?

SignalX aggregates every O Form 4 insider transaction from SEC EDGAR. Form 4 reports show when officers, directors, and 10% shareholders buy or sell company stock, with transaction code, share count, and price per share.

How often does O file with the SEC?

Realty Income (O) files a 10-K annual report once per year (typically within 60 days of fiscal year-end) and 10-Q quarterly reports three times per year. 8-K current reports are filed as needed when material events occur, and Form 4 insider transaction reports are due within two business days of a trade. SignalX monitors SEC EDGAR daily to surface every new O filing with AI-powered analysis.

What is the difference between 10-K, 10-Q, and 8-K SEC filings?

A 10-K is a comprehensive annual report with audited financials, business overview, and risk factors. A 10-Q is a shorter quarterly report with unaudited financials and management discussion. An 8-K is a current report filed when a material event occurs, such as earnings releases, executive changes, acquisitions, or other significant developments. SignalX provides AI-generated summaries for all three filing types for Realty Income (O).

What is O's SEC CIK number?

Realty Income (O)'s SEC CIK (Central Index Key) number is 726728. The CIK is a unique identifier assigned by the SEC to every filing entity. You can use CIK 726728 to look up all O filings on SEC EDGAR, or browse them here on SignalX with AI-powered analysis.

Where can I find O return on equity (ROE) and financial data?

SignalX extracts XBRL financial data from Realty Income (O) 10-K annual filings, including revenue, net income, gross profit, operating income, EPS, total assets, stockholders' equity, and operating cash flow. Return on equity (ROE) can be derived from net income divided by stockholders' equity. Multi-year financial trends are displayed in the Financial Summary table above.