How does Realty Income’s operating results compare to those of peer REITs (e.g., Simon Property, Vestis, Agree Realty) in the same period?

Short answer:

The press release you shared contains only Realty Income’s own operating‑result figures – it does not include any numbers for the peer REITs you mentioned (Simon Property Group, Vestis, Agree Realty). Because of that we cannot produce a side‑by‑side, “apples‑to‑apples” comparison with the data that are actually in the source you provided.

What we can do instead

Below is a practical framework you can use to compare Realty Income’s three‑month and six‑month results (ending June 30 2025) with those of peer REITs. I’ve also listed the most common metrics that REIT analysts look at, along with a brief note on where you can typically find the peer data.

How to Build the Comparison

1. Collect the peer data

   • Simon Property Group (NYSE: SPG) – Look at its Q2 2025 earnings release (typically filed in early August).
     
   • Vestis (NYSE: VSTS) – Same‑quarter earnings release; note that Vestis is a retail‑focused REIT, so its rent‑growth dynamics differ.
     
   • Agree Realty (NASDAQ: ADC) – As a net‑lease REIT, its FFO and occupancy metrics are especially relevant.

2. Standardize the time‑frame

   • Make sure you are comparing the same period (three months ended June 30 2025 and six months ended June 30 2025) for each REIT.
     
   • If a peer reports a calendar‑year quarter (e.g., Q2 2025) that matches the same dates, you can use those numbers directly. If they report fiscal quarters that end on a different date, you may need to prorate or note the mismatch.

3. Create a side‑by‑side table (example format)

(Replace “—” with the actual numbers you retrieve.)

1. Interpret the numbers
   

• Profitability – Compare FFO per share and AFFO per share; higher figures generally indicate stronger cash‑flow generation.
  
• Growth – Look at core rent growth and NOI growth; a REIT that can grow rents despite a high‑turnover retail environment may have a competitive advantage.
  
• Dividend sustainability – A payout ratio (Dividend ÷ FFO) below ~80 % is typically considered comfortable for REITs.
  
• Leverage – Debt/FFO below 5.0× is often a benchmark for “moderate” leverage in the sector; peers above that level might be more risk‑sensitive.
  
• Operational efficiency – Occupancy rates close to 95 %+ in the retail‑net‑lease space are a good sign; large gaps may signal tenant‑risk or regional concentration issues.

1. Contextual factors
   

• Asset mix – Realty Income is a diversified “monthly dividend” REIT with a strong emphasis on triple‑net leases across many sectors (industrial, retail, office, etc.).
  
• Simon Property is a mall‑focused REIT; its rent‑growth dynamics are heavily tied to foot‑traffic trends and consumer‑spending patterns, which can be more volatile than Realty Income’s net‑lease model.
  
• Vestis (specialty‑retail) and Agree Realty (single‑tenant net‑lease) have different risk‑return profiles. Directly comparing raw NOI or FFO may be misleading without adjusting for the differing asset‑type exposures.

Bottom line (given the data you supplied)

• We cannot produce a numeric comparison because the press release you provided contains only Realty Income’s figures; the peer REITs’ numbers are absent.
  
• To answer the question fully, you’ll need to gather the same three‑month and six‑month operating results for Simon Property Group, Vestis, and Agree Realty (typically available in their own Q2 2025 earnings releases or 10‑Q filings) and then line them up against the Realty Income data using the template and metrics above.
  

If you retrieve those peer figures and share them, I can help you draft a detailed comparative analysis (including percentages, growth rates, and commentary on dividend sustainability, leverage, and rent‑growth trends).