New York, February 14, 2026, 19:15 EST — The market has closed.
Shares of Realty Income Corp (NYSE: O) climbed 1.36% to finish Friday at $65.66, capping a four-day winning streak and settling just under 1% shy of the 52-week high of $66.28 hit the previous session. The REIT moved between $64.66 and $65.99 during the day. The S&P 500 squeaked out a 0.05% gain; Kimco Realty advanced 1.75%, Regency Centers added 0.73%, and Federal Realty ticked up 0.05%. (MarketWatch)
Much of the move was down to rates. January’s U.S. consumer price increase came in lighter than forecasts, pulling Treasury yields lower and fueling hopes for a Fed rate cut this year. “We are overweight duration in fixed income and overweight interest rate sensitive names such as homebuilders and real estate,” said Brad Conger, chief investment officer at Hirtle, Callaghan & Co. (Reuters)
That’s important for Realty Income, since net-lease REITs have a habit of tracking bond yields—when borrowing gets cheaper and yields dip, property stocks can get a boost, even in the absence of new company news. Investors are also facing a shortened U.S. trading week. On deck: data releases for the personal consumption expenditures price index, a closely watched inflation measure, plus an early look at fourth-quarter GDP. (Reuters)
Investors won’t have to wait long for the next inflection point. Realty Income has slated its fourth-quarter and full-year 2025 earnings for release after the closing bell on Feb. 24, with a conference call scheduled for 2:00 p.m. PST. (Realty Income)
Sector numbers handed bulls fresh ammo Thursday. According to CBRE, U.S. net-lease investment volume jumped 16% in 2025, hitting $51.4 billion. The fourth quarter alone reached $16.0 billion. Cap rates for net-lease deals—essentially property yields—stayed put at 6.9% in Q4. “The net lease market showed strong resilience,” said Will Pike, president of U.S. industrial and logistics capital markets at CBRE. (CBRE)
Realty Income keeps pitching itself as an income play. Back in January, the company announced its 667th straight monthly dividend—$0.27 per share, matching a $3.24 annual run rate—set for payment on Feb. 13. That works out to a yield around 4.9% at Friday’s close. (Realty Income)
Traders are focused on one thing heading into Tuesday: whether the bond rally sticks. A reversal in yields could quickly complicate REIT valuations and send high-dividend stocks tumbling.
The broader rates risk is lurking behind the weekend’s moves. According to a Reuters poll of bond strategists, the 10-year Treasury yield could climb to 4.29% within a year as the market weighs hefty debt issuance and persistent deficits. Jean Boivin, who leads the BlackRock Investment Institute, flagged the risk of a changing inflation narrative, calling it “a wake-up call with some volatility in the near term.” (Reuters)
Higher yields and wider credit spreads spell higher funding costs for Realty Income, and that could easily put the brakes on acquisitions—the same deals that drive its dividend growth. Add in a shakier consumer environment, and things get tougher, even for a landlord like this one that leans on long-term leases.
Feb. 24 is the date to watch. Realty Income will release results after the bell, with a focus on funds from operations (FFO), the go-to cash flow measure for REITs. Investors are also looking for commentary on its 2026 deal pipeline, where leverage stands on the balance sheet, and where dividend coverage lands. The Q&A is set for 2:00 p.m. PST.
