O — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• This Quarterly Report on Form 10-Q, including the documents incorporated by reference, contains forward-looking

• statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities

• Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this

• quarterly report, the words “estimate,” “anticipate,” “assume,” “expect,” “believe,” “intend,” “continue,” “should,”

• “may,” “likely,” “plan,” “seek,” and similar expressions are intended to identify forward-looking statements. Forward-

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• This Quarterly Report on Form 10-Q, including the documents incorporated by reference, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act…

• Additional factors that may cause risks and uncertainties include those discussed in the sections entitled “Business,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K, for the year ended December 31, 2025.

• Readers are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future plans and performance and speak only as of the date this quarterly report was filed with the Securities and Exchange Commission (the "SEC"). Past operating r…

• Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of March 31, 2026, we have a portfolio of over 15,500 properties in all 50 states of the United States ("U.S…

• As of March 31, 2026, we owned or held interests in 15,571 properties, with approximately 347.6 million square feet of leasable space leased to 1,786 clients doing business in 92 separate industries. Of the 15,571 properties in our portfolio as of March 31, 2026, 15,206, or 97.7%, were single-tenant…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• is hedged, but the risks may affect our financial statements.

• We are exposed to interest rate changes primarily as a result of our revolving credit facilities and commercial paper

• programs, term loans, mortgages payable, and long-term notes and bonds used to maintain liquidity and expand

• our real estate investment portfolio and operations. Our interest rate risk management objective is to limit the impact

• of interest rate changes on earnings and cash flow and to lower our overall borrowing costs. To achieve these

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We are exposed to interest rate changes primarily as a result of our revolving credit facilities and commercial paper programs, term loans, mortgages payable, and long-term notes and bonds used to maintain liquidity and expand our real estate investment portfolio and operations. Our interest rate ri…

• In order to mitigate and manage the effects of interest rate risks on our operations, we may utilize a variety of financial instruments, including interest rate swaps, interest rate swaptions, interest rate locks and caps. The use of these types of instruments to hedge our exposure to changes in int…

• The following table presents, by year of expected maturity, the principal amounts, average interest rates and estimated fair values of our fixed and variable rate debt as of March 31, 2026. This information is presented to evaluate the expected cash flows and sensitivity to interest rate changes.

• The following table summarizes the maturity of our debt as of March 31, 2026 (dollars in millions):

• Term Loans Mortgages PayableSenior Unsecured Notes and BondsSubtotalRI Credit Facilities

Text added vs the prior filing · source: 10-Q · 2026-08-06

• We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities

• Exchange Act of 1934, as amended (the "Exchange Act") that are designed to ensure that information required to be

• disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods

• specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated

• and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and…

• We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2026, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer.

• Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that as of March 31, 2026 our disclosure controls and procedures were effective and were operating at a reasonable assurance level.

• There have been no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

• Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and br…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• You should carefully consider the risks described in "Item 1A, Risk Factors" in Part I of our annual report on

• Form 10-K for the year ended December 31, 2025, as our business, financial condition and results of operations

• could be adversely affected by any of the risks and uncertainties described therein. There have been no material

• changes to the risk factors disclosed in our annual report on Form 10-K for the year ended December 31, 2025.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• During the three months ended June 30, 2026, none of our officers or directors adopted or terminated any contract,

• instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative

• defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• During the three months ended March 31, 2026, none of our officers or directors adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading…