"Realty Income raised its payout for the 113th straight quarter and guided to roughly $8 billion in 2026 deals. Realty Income's Q4 reported in February, with revenue of $1.49 billion beating the $1.17 billion consensus by 27.34%. EPS of $0.32 missed expectations, weighed down by $124.41 million in quarterly impairment provisions. Occupancy held at 98.9% and rent recapture hit 104.9% on re-leased space."
"AGNC reported on April 21, 2026 with EPS of -$0.17, a tangible book value of $8.38 (down 5.6%), and a -1.6% economic return on tangible common equity. CEO Peter Federico blamed "the war in Iran and the potential for more widespread conflict in the Middle East" for the spread shock. The bright spot: net spread plus dollar roll income jumped to $0.42 per share from $0.35."
"Realty Income is widening its lane: a $1.5 billion Core Plus Fund, a GIC build-to-suit JV, $950.7 million in Q4 European deals at a 7.2% yield, and a fresh $200 million Mexico entry. AGNC is doing something different: it pushed swap notional to $76.5 billion, lifted hedge coverage to 83%, and raised $401 million through ATM offerings to defend the book. One company is buying rent streams. The other is managing duration risk in real time."
"The 10-year Treasury sat at 4.39% on May 1, in the 82.7 percentile of its trailing year. For Realty Income, that pressures refinancing math, but 2026 AFFO guidance of $4.38 to $4.42 easily covers the $3.240 annualized dividend. For AGNC, the $1.44 annualized payout is not directly covered by G"
Realty Income reported Q4 revenue of $1.49 billion, exceeding consensus, with occupancy at 98.9% and rent recapture of 104.9% on re-leased space. The company raised its payout for the 113th straight quarter and guided to roughly $8 billion in 2026 deals, including a $1.5 billion Core Plus Fund, a GIC build-to-suit joint venture, European acquisitions, and a Mexico entry. AGNC reported an EPS loss of -$0.17, with tangible book value down 5.6% and negative economic return on tangible common equity. Middle East tensions drove mortgage spread widening, while net spread plus dollar roll income rose to $0.42 per share. AGNC increased swap notional, hedge coverage, and raised capital through ATM offerings to defend its book.
Read at 24/7 Wall St.
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