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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Brad Heffern | RBC Capital Markets | 12 | 8% |
| Upal Rana | KeyBanc Capital Markets | 11 | 9% |
| Ron Kamdem | Morgan Stanley | 10 | 0% |
| Jay Kornreich | Cantor Fitzgerald | 10 | 0% |
| Smedes Rose | Citigroup | 9 | 33% |
| Linda Tsai | Jefferies | 8 | 13% |
| John Kilichowski | Wells Fargo | 8 | 25% |
| Mike Goldsmith | UBS | 8 | 13% |
| Greg McGinniss | Scotiabank | 8 | 13% |
| Wes Golladay | Robert W. Baird | 7 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| RBC Capital Markets | 1 | 12 | 8% |
| UBS | 2 | 12 | 8% |
| KeyBanc Capital Markets | 1 | 11 | 9% |
| Citigroup |
| 2 |
| 11 |
| 27% |
| Bank of America | 3 | 11 | 0% |
| Morgan Stanley | 1 | 10 | 0% |
| Green Street | 3 | 10 | 10% |
| Cantor Fitzgerald | 1 | 10 | 0% |
Realty Income delivered Q1 AFFO per share of $1.13, up 6.6% year-over-year, and invested approximately $2.8 billion at a 7.1% initial cash yield. The private capital platform expansion continued driving growth. Management raised AFFO per share guidance to $4.41-$4.44 on strong performance. Credit and structured investments expanded the opportunity set, and European expansion continued targeting fragmented markets. Proactive asset management drove termination income, though the theater portfolio faced headwinds on a same-store basis.
Capital Allocation | Demand | Competitive Dynamics | Credit | Geographic Expansion | Pricing | Capex Investment | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 6 | 2 | 7 | 4 | 4 | 3 | 1 |
| 2025Q1 | 9 | 7 | 6 | 8 | 4 | 5 | 3 | 1 |
| 2025Q2 | 13 | 3 | 6 | 4 | 7 | 2 | 2 | 1 |
| 2025Q3 | 10 | 5 | 4 | 2 | 7 | 1 | 5 | |
| 2025Q4 | 18 | 4 | 6 | 2 | 1 | 4 | 5 | |
| 2026Q1 | 12 | 6 | 6 | 4 | 4 | 3 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capital Allocation | 9 | 9 | 13 | 10 | 18 | 12 |
| Demand | 6 | 7 | 3 | 5 | 4 | 6 |
| Competitive Dynamics | 2 | 6 | 6 | 4 | 6 | 6 |
| Credit | 7 | 8 | 4 | 2 | 2 | 4 |
| Geographic Expansion | 4 | 4 | 7 | 7 | 1 | 4 |
| Pricing | 4 | 5 | 2 | 1 | 4 | 3 |
| Capex Investment | 3 | 3 | 2 | 5 | ||
| Guidance Reliability | 1 | 1 | 1 | 5 | 5 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
O Realty Income | 7 | +12.2% | |
| FRT Federal Realty Investment Trust | 8 | +10.3% | |
| KIM Kimco Realty | 7 | +4.0% | |
| REG Regency Centers | 6 | +4.5% | |
| SPG Simon Property Group | 8 | +19.3% |