Realty Income maintains dividend growth streak amid raised AFFO guidance

Realty Income, a prominent Real Estate Investment Trust (REIT) in the S&P 500, continues to demonstrate consistent dividend growth, though the pace of these increases has drawn scrutiny. The company recently announced a monthly dividend of 0.2715 USD per share for October 2026, marking its 136th consecutive increase.

Financial indicators show strength in the company’s Funds From Operations (FFO). For the 2026 fiscal year, management has raised its Adjusted Funds From Operations (AFFO) guidance to between 4.44 and 4.45 USD per share. While the dividend growth rate has fluctuated—averaging 3.2% over ten years but slowing to approximately 1.2% last year—the company maintains a significant buffer between its earnings and payout requirements.

Market analysts maintain a generally positive outlook. With a closing price of 56.66 USD on the NYSE as of September 18, 2026, the stock offers a dividend yield of approximately 5.7%. Consensus ratings lean toward a 'Moderate Buy,' with an average price target of 66.92 USD, suggesting a potential upside of roughly 18.1%.