Realty Income Corp (NYSE:O) stock fell 1% (As on February 24, 11:31:02 AM UTC-4, Source: Google Finance) after the company forecast 2026 annual funds from operations (FFO) below Wall Street estimates on Tuesday, citing slowing demand and higher property management costs amid an uncertain macroeconomic environment. For the quarter, net income available to common stockholders was $296.1 million. As of December 31, 2025, the company owned or held interests in 15,511 properties, which were leased to 1,761 clients doing business in 92 industries. The diversified portfolio of commercial properties under long-term, net lease agreements is actively managed with a weighted average remaining lease term of approximately 8.8 years. As of December 31, 2025, portfolio occupancy was 98.9% with 173 properties available for lease or sale, as compared to 98.7% as of September 30, 2025 and December 31, 2024. During the three months ended December 31, 2025, the new annualized base rent on re-leased units was $88.30 million, as compared to the previous annual rent of $84.21 million on the same units, representing a rent recapture rate of 104.9% on the re-leased units.

Moreover, Net Debt to Annualized Pro Forma Adjusted EBITDAre was 5.4x. The company settled 14.0 million shares of outstanding forward sale agreements through our At-The-Market (“ATM”) program for gross proceeds of $817.8 million. O has successfully launched our inaugural perpetual life U.S. Open-End Core Plus Fund, raising $1.5 billion in total commitments through year end. In January 2026, the company announced the establishment of a strategic relationship with GIC, including the establishment of a build-to-suit development joint venture with total combined commitments of over $1.5 billion. The company expanded to Mexico in scale with a $200.0 million takeout commitment for USD-denominated, long-term leased industrial portfolio, representing the first investment in Mexico

O in the fourth quarter of FY25 has reported the adjusted FFO per share of $1.08, which is inline with the analysts’ estimates for the adjusted earnings per share of $1.08, according to Zacks Investment Research. The company had reported the adjusted revenue of $1.49 billion in the fourth quarter of FY25, beating the analysts’ estimates for revenue of $1.46 billion.

The ​San Diego, California-based company said it expects adjusted 2026 ​FFO per share between $4.38 and $4.42. The midpoint is slightly below analysts’ ​average estimate of $4.46 per share, ⁠according to ‌data compiled by ​LSEG. It ​also expects annual same-store ⁠rent growth of 1% to 1.3%, compared ​with 1.3% growth in 2025.