Realty Income Caps Promote-Plan Bonuses at 40% While Lifting Payout and Backing $10 Billion Target

Realty Income's board approved a "2026 Promote Award Plan" on November 3, capping the bonus pool tied to the program at 40% of each participant's performance-based allocation. The plan lets eligible employees earn awards linked to such allocations from selected funds, joint ventures and other investment vehicles — with the 40% ceiling applying to each individual allocation, not the pool as a whole.

The compensation mechanics surfaced alongside a busy stretch of corporate news from the net-lease landlord, which also delivered third-quarter 2026 results, fresh transaction disclosures and its 137th monthly dividend increase.

December Payout Rises to $0.2740

The dividend moves from $0.2715 to $0.2740 per share, payable December 15 to shareholders of record as of November 30. Both dates fall before the calendar turns, and the new rate annualizes to $3.288 per share.

119 Properties Bought, 182 Sold

In its November 2 transaction report, Realty Income said it acquired 119 properties for $2.16 billion during the third quarter. Dispositions totaled 182 properties, generating net proceeds of $526.6 million. The company published the figures together with its results for the quarter and the first nine months of the year.

Earnings and Guidance

Diluted net income came in at $0.43 per share for the quarter, while adjusted funds from operations — AFFO — reached $1.12 per share, up 3.7% from the year-earlier period. Realty Income raised its 2026 AFFO outlook to a range of $4.45 to $4.46 per share and reaffirmed its full-year investment volume target of $10.0 billion.