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Changes in Occupancy
Tracks fluctuations in occupancy rates, reflecting demand for properties and potential impacts on rental income.Rising lease expirations through 2025 drove higher turnover and more vacant dispositions, yet Realty Income’s active asset management—evidenced by outsized re‑leases to same tenants, elevated lease‑termination income and targeted disposals—has largely offset vacancy pressure, reducing properties available for lease in early 2026. That execution underpins the AFFO guide raise and private‑capital scaling, but elevated expirations, the episodic nature of termination income and cap‑rate/credit execution risk could still pressure near‑term cash yields if renewals or loan conversions underperform.
Date | Properties Available for Lease | Lease Expirations | Vacant Dispositions | Re-leases To Same Tenant | Re-leases To New Tenant |
|---|---|---|---|---|---|
Jun 30, 2026 | 172.00 | 480.00 | -45.00 | -385.00 | -34.00 |
Mar 31, 2026 | 173.00 | 320.00 | -78.00 | -220.00 | -23.00 |
Dec 31, 2025 | 204.00 | 378.00 | -115.00 | -285.00 | -9.00 |
Sep 30, 2025 | 212.00 | 340.00 | -106.00 | -225.00 | -17.00 |
Jun 30, 2025 | 212.00 | 355.00 | -64.00 | -293.00 | -17.00 |
Mar 31, 2025 | 231.00 | 244.00 | -49.00 | -160.00 | -9.00 |
Dec 31, 2024 | 196.00 | 286.00 | -56.00 | -197.00 | -24.00 |
Sep 30, 2024 | 185.00 | 212.00 | -59.00 | -131.00 | -11.00 |
Jun 30, 2024 | 217.00 | 185.00 | -64.00 | -144.00 | -9.00 |
Mar 31, 2024 | 193.00 | 245.00 | -43.00 | -166.00 | -12.00 |