O at a glance
Realty Income (O, SEC CIK 726728) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 25, 2026 and Form 4 insider filings as recently as September 10, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Realty Income (O) reported revenue of $5.7 billion (up 9.1% from FY2024) and net income of $1.1 billion. Diluted EPS was $1.17.
- As of June 30, 2026, 47 institutional investment managers tracked by SignalX reported holding Realty Income (O) shares worth $28.5 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by McLaughlin Gregory on September 10, 2026 of 3,475 shares at $60.15 per share.
- In the last 90 days, O insiders reported 0 open-market purchases ($0) and 1 open-market sale ($209K) on Form 4, a net sale of $209K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $5.7B
- +9.1% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$209K
- 13F holders
- 47 funds
- $28.5B · −1 vs prior quarter
- Latest 8-K
- Aug 25, 2026
- Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
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
AI summary of the O 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Investments $2.6B across 144 properties and other assets at 7.3% initial cash yield
- Net proceeds $160.7M from 80 property dispositions
- $843.0M equity proceeds through ATM; $5.5B revolving credit capacity effective July 2026
- Outlook: liquidity sufficient for next twelve months; headwinds from inflation, financing costs, capital-market volatility, and client pressures
Risk Factors
- No material changes to 2025 Form 10-K risk factors
- Carried-forward risks include adverse effects on business, financial condition, and results from disclosed uncertainties
- Debt risk: 4.750% notes due 2033 issued April 7, 2026
- Debt risk: 3.625% notes due 2032 issued July 7, 2026
- Liquidity risk: credit agreement amended July 10, 2026
AI summary of the O 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- $500 million Wells Fargo term loan maturity extended to August 20, 2027
- TD multi-currency facilities permit up to $1.35 billion in aggregate borrowings, maturing January 18, 2028
Item 2.03: Creation of a Direct Financial Obligation
- Convertible Notes potentially exchangeable into 16,157,600 common shares
- Initial maximum conversion rate of 16.1576 shares per $1,000 principal amount
Item EX-99.1: Item EX-99.1
- $1.0B convertible senior notes closed at 3.750% interest, maturing 2031, increasing long-term financing obligations
- Net proceeds of approximately $981.9M, including $33.2M for capped calls and $188.7M for repurchasing 3.0M shares
Item 7.01: Regulation FD Disclosure
- Forward-looking disclosure covering convertible Notes, capped calls, proceeds use, and potential common-stock repurchases
- Capital strategy includes private capital activities, property acquisitions or dispositions, and share repurchase initiatives
Item 8.01: Other Events
- Forward-looking disclosure tied to planned Notes offering, conversion terms, proceeds use, and capped call transactions
- Potential use of proceeds for common-stock repurchases, affecting future share count and capital allocation
Item EX-99.1: Item EX-99.1
- $875.0M convertible notes priced at 3.750%, maturing August 15, 2031, increasing planned financing from $750.0M
- Conversion price $72.72, a 17.5% premium to Realty Income’s $61.89 share price, limiting near-term dilution risk
AI summaries of O 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for O
Don't miss the next O filing
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| McLaughlin Gregory | Sell | Sep 10, 2026 | 3,475 | $60.15 |
| Redington Neale | F | Jun 27, 2026 | 240 | $63.12 |
| Preusse Mary Hogan | A | May 21, 2026 | 3,214 | - |
| Chapman A. Larry | A | May 21, 2026 | 3,214 | - |
| Huskins Priya Cherian | A | May 21, 2026 | 3,214 | - |
| Jacobson Jeff A | A | May 21, 2026 | 3,214 | - |
| LOPEZ GERARDO I | A | May 21, 2026 | 3,214 | - |
| McLaughlin Gregory | A | May 21, 2026 | 3,214 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $4.1B | $5.3B | $5.7B | |
| Net Income | $872.3M | $860.8M | $1.1B | |
| Net Margin | 21.4% | 16.3% | 18.4% | |
| Balance Sheet | ||||
| Total Assets | $57.8B | $68.8B | $72.8B | |
| Equity | $32.9B | $38.8B | $39.4B | |
| ROE | 2.6% | 2.2% | 2.7% | |
| Per Share | ||||
| EPS | $1.26 | $0.98 | $1.17 | |
| Cash Flow | ||||
| Operating CF | $3.0B | $3.6B | $4.0B | |
Source: XBRL data in Realty Income (O)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate O share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 47 | $28.54B |
| Q1 2026 | 48 | $27.46B |
| Q4 2025 | 44 | $26.24B |
| Q3 2025 | 47 | $28.30B |
| Q2 2025 | 42 | $25.51B |
| Q1 2025 | 37 | $19.71B |
| Q4 2024 | 32 | $15.22B |
| Q3 2024 | 30 | $8.51B |
- Goldman Sachs Group+7.69M (+179%)
- BlackRock+5.02M (+5%)
- State Street Corp+2.17M (+3%)
- Vanguard Portfolio Management LLC+1.88M (+2%)
- Bank of America Corp+1.79M (+10%)
- JPMorgan Chase & Co−7.61M (-55%)
- Morgan Stanley−802.3K (-5%)
- Principal Financial Group−710.7K (-38%)
- Northern Trust−416.4K (-4%)
- D.E. Shaw & Co−194.8K (-11%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 327 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
O filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 10, 2026 | - | - | - |
| 8-K | Aug 25, 2026 | - | Analysis | - |
| 8-K | Aug 14, 2026 | - | Analysis | - |
| 8-K | Aug 12, 2026 | - | Analysis | - |
| 8-K | Aug 11, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 8-K | Jul 13, 2026 | - | Analysis | - |
| 8-K | Jul 7, 2026 | - | Analysis | - |
| 4 | Jun 30, 2026 | - | - | - |
| 8-K | Jun 30, 2026 | - | Analysis | - |
| 8-K | Jun 29, 2026 | - | Analysis | - |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 8-K | May 22, 2026 | - | Analysis | |
| 8-K | May 8, 2026 | - | Analysis | |
| 10-Q | May 7, 2026 | Mar 31, 2026 | Analysis |
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O SEC filings: frequently asked questions
Are O insiders buying or selling?
In the last 90 days, Realty Income (O) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $209,022 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold O stock?
As of June 30, 2026, the largest Realty Income (O) holders among the 13F filers tracked by SignalX were BlackRock ($7.0 billion), Vanguard Portfolio Management LLC ($5.1 billion), State Street Corp ($4.1 billion), Vanguard Capital Management LLC ($3.8 billion), Bank of America Corp ($1.2 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was O's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Realty Income (O) reported revenue of $5.7 billion (up 9.1% from FY2024) and net income of $1.1 billion. Diluted EPS was $1.17. The figures come from the XBRL data in the 10-K.
What are the main risks in O's latest 10-K?
In the 10-K filed February 25, 2026, Realty Income (O) flagged: 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. (AI summary of the Risk Factors section.)
What did O report in its latest 8-K?
Realty Income (O) filed an 8-K on August 25, 2026 reporting Item 8.01 (Other Events). $500 million Wells Fargo term loan maturity extended to August 20, 2027.
What are the latest O SEC filings?
Realty Income (O) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 25, 2026 and a Form 4 insider filing on September 10, 2026.
What is O's SEC CIK number?
Realty Income (O)'s SEC Central Index Key (CIK) is 726728. EDGAR lists every O filing under that number.
Ask anything about O
The research agent reads O's filings, financials, insider trades and 13F holders, then answers with sources.