Realty Income delivered strong Q1 2026 results, with AFFO per share up 6.6% and occupancy at 98.9%, reinforcing its dependable income profile. O's private capital strategy, including joint ventures with Apollo and GIC, has scaled to $4.8 billion, reducing reliance on dilutive equity raises and enhancing funding flexibility. Management raised full-year investment guidance to $9.5 billion and 2026 AFFO per share guidance to $4.41–$4.44, implying 3–3.7% growth and supporting a 5.42% dividend yield.