AFFO News & Analysis
4 articles
Market Mood
Realty Income (O) Declares 673 Consecutive Monthly Dividends
Realty Income Corporation (NYSE: O) has declared 673 consecutive monthly dividends since 1969 and has increased its dividend for 115 consecutive quarters. The monthly dividend is currently $0.271 per share, translating to an annualized payout of $3.252, offering a dividend yield of over 5%. As of the second quarter, Realty Income reported an adjusted funds from operations (AFFO) of $1.09 per share, a 3.8% increase year-over-year, with a payout ratio of 74.5%. The company's occupancy rate was 98.8%, highlighting its stable cash flow and real estate portfolio. This matters for investors seeking regular income as the reliable dividend stream may offer returns even without significant stock price appreciation.
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RHP Gains 18% Amid Flat Real Estate Sector Performance
Over the past three months, Ryman Hospitality Properties (RHP) has seen an 18% gain, outperforming the flat real estate sector while the S&P 500 rose 11%. RHP reported a 13% year-over-year revenue growth in Q1 and a 19% increase in adjusted funds from operations (AFFO). The company attributed its success to stable hotel bookings, with over 460,000 future room nights confirmed. Additionally, Ryman updated its full-year guidance and expects continued positive performance into 2026, reflecting strong market potential for hotel REITs.
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Global Net Lease (GNL) Q1 Highlights: $109.3M Revenue, $0.21 AFFO
Global Net Lease (GNL) reported Q1 2026 revenue of $109.3 million and adjusted funds from operations (AFFO) of $43.9 million, or $0.21 per share. The company plans an all-stock acquisition of Modiv Industrial, expected to close in Q3 2026, which is projected to increase AFFO per share by about 4%. GNL also decreased annualized G&A expenses by 25% YoY and reported liquidity of $911 million. With occupancy rising to 97% and 64% of tenants being investment-grade, the company has reaffirmed its full-year 2026 AFFO guidance of $0.80 to $0.84 per share.
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GLPI Q1 2026 Earnings: AFFO Growth Guidance of $1.212B-$1.223B
Gaming and Leisure Properties (GLPI) provided Q1 2026 results with full-year AFFO guidance of $1.212 billion to $1.223 billion, translating to $4.08 to $4.12 per diluted share. The company reported a year-over-year income increase of over $24 million, driven by $33 million in cash rent increases. GLPI plans to deploy a $1.8 billion capital commitment by year-end 2027, including $750M–$800M for development in 2026 and a $225 million acquisition. The leverage ratio stood at 5x, with $275 million in cash and an annual free cash flow of roughly $230 million.
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