リアルティインカムの四半期報告

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メリーランド						33-0580106
(設立または組織の州またはその他の管轄区域)						(IRS Employer Identification Number)


Title of Each Class	Trading Symbol(s)	登録されている各取引所の名称
普通株式、額面0.01ドル	O	New York Stock Exchange
1.125% Notes due 2027	O27A	New York Stock Exchange
1.875% Notes due 2027	O27B	New York Stock Exchange
5.000% Notes due 2029	O29B	New York Stock Exchange
1.625% Notes due 2030	O30	New York Stock Exchange
4.875% Notes due 2030	O30B	New York Stock Exchange
5.750% Notes due 2031	O31A	New York Stock Exchange
3.375% Notes due 2031	O31B	New York Stock Exchange
1.750% Notes due 2033	O33A	New York Stock Exchange
5.125% Notes due 2034	O34	New York Stock Exchange
3.875% Notes due 2035	O35B	New York Stock Exchange
6.000% Notes due 2039	O39	New York Stock Exchange
5.250% Notes due 2041	O41	New York Stock Exchange
2.500% Notes due 2042	O42	New York Stock Exchange


PART I.	FINANCIAL INFORMATION	Page
Item 1:	財務諸表（未監査）
	連結貸借対照表	2
	連結損益計算書および連結包括利益計算書	3
	連結資本勘定計算書	4
	連結キャッシュ・フロー計算書	5
	連結財務諸表注記	6
Item 2:	財政状態および経営成績に関する経営陣の検討および分析	33
Item 3:	市場リスクに関する定量的・定性的開示	54
Item 4:	管理と手続き	56
PART II.	OTHER INFORMATION
Item 1A:	Risk Factors	56
Item 2:	登録されていない持分証券の売却および売却代金の使用	57
Item 5:	Other Information	57
Item 6:	Exhibits	58

SIGNATURE		59


	September 30, 2025		December 31, 2024
資産
投資目的で保有する不動産（取得原価ベース:
土地	$	18,126,781	$	17,320,520
Buildings and improvements	42,921,102		40,974,535
投資目的で保有する不動産（原価ベース）合計	61,047,883		58,295,055
控除後の減価償却費および償却累計額	(8,460,230)		(7,381,083)
投資目的で保有する不動産(純額)	52,587,653		50,913,972
売却予定の不動産およびリース無形資産（純額	174,996		94,979
現金および現金同等物	417,173		444,962
売掛金（純額）	1,006,716		877,668
Lease intangible assets, net	5,858,799		6,322,992
営業権	4,932,199		4,932,199
Investment in unconsolidated entities	1,234,092		1,229,699
その他の資産（純額	5,067,354		4,018,568
資産合計	$	71,278,982	$	68,835,039
負債および資本
Distributions payable	$	250,611	$	238,045
買掛金および未払費用	930,260		759,416
Lease intangible liabilities, net	1,528,256		1,635,770
その他の負債	937,877		923,128
リボルビング・クレジット・ファシリティとコマーシャル・ペーパー	1,915,492		1,130,201
Term loans, net	1,636,711		2,358,417
Mortgages payable, net	38,091		80,784
Note s payable	24,781,463		22,657,592
負債合計	$	32,018,761	$	29,783,353
コミットメントおよび偶発事象（注記20)

株主資本の部:
2025年9月30日および2024年12月31日現在の発行済株式数は、それぞれ919,893株および891,511株である。	$	49,034,023	$	47,451,068
純利益を超える分配金	(10,075,749)		(8,648,559)
累積その他の包括利益	92,323		38,229
株主資本合計	$	39,050,597	$	38,840,738
非支配持分	209,624		210,948
資本合計	$	39,260,221	$	39,051,686
負債及び資本合計	$	71,278,982	$	68,835,039


	September 30,				9月30日に終了した9ヵ月間,
	2025		2024		2025		2024
売上高
Rental (including reimbursements)	$	1,386,502	$	1,271,153	$	4,037,747	$	3,764,050
その他	84,050		59,762		223,688		166,793
収益合計	1,470,552		1,330,915		4,261,435		3,930,843
EXPENSES
減価償却費および償却費	631,981		602,339		1,888,765		1,788,973
利息	294,482		261,261		846,680		748,806
Property (including reimbursements)	106,621		92,154		320,724		281,366
一般管理費	55,039		41,869		148,412		127,781
Provisions for impairment	86,972		96,920		346,924		282,867
合併・取引・その他の費用（純額	13,343		8,610		13,953		105,468
Total expenses	1,188,438		1,103,153		3,565,458		3,335,261
不動産売却益	49,107		50,563		110,210		92,290
外貨およびデリバティブ（損失）益（純額	(2,818)		(1,672)		(9,751)		2,885

非連結子会社の持分法による投資利益	3,080		5,087		10,706		5,440
その他の収益（純額）	10,015		4,739		24,551		16,293
税引前利益	341,498		286,479		831,693		712,490
法人税等	(23,824)		(15,355)		(63,546)		(46,499)
純利益	317,674		271,124		768,147		665,991
非支配持分に帰属する当期純利益	(1,903)		(1,639)		(5,642)		(4,831)
当社株主に帰属する当期純利益	315,771		269,485		762,505		661,160
Preferred stock dividends	—		(2,588)		—		(7,763)
償還された優先株式の帳簿価額に対する償還価額の超過額	—		(5,116)		—		(5,116)
普通株主に帰属する純利益	$	315,771	$	261,781	$	762,505	$	648,281
普通株式1株当たりの普通株主に帰属する金額:
当期純利益、基本的および希薄化後	$	0.35	$	0.30	$	0.84	$	0.75


加重平均発行済普通株式数:
基本	913,949		870,665		902,935		858,679
希薄化後	915,187		872,052		904,010		859,462

普通株主に帰属する純利益	$	315,771	$	261,781	$	762,505	$	648,281
Other comprehensive (loss) income:
外貨換算調整勘定	(21,950)		74,615		77,690		59,797
未実現デリバティブ評価益（損失）（純額	18,493		(46,474)		(23,596)		(30,228)
その他の包括利益（損失）合計	$	(3,457)	$	28,141	$	54,094	$	29,569
普通株主に帰属する包括利益	$	312,314	$	289,922	$	816,599	$	677,850



	Shares ofpreferredstock	Preferredstock andpaid incapital		Shares ofcommonstock	Commonstock andpaid incapital		Distributionsin excess ofnet income		Accumulatedothercomprehensive income		Totalstockholders’equity		Non-controllinginterests		Totalequity
Balance, June 30, 2025	—	$	—	914,285	$	48,708,721	$	(9,651,395)	$	95,780	$	39,153,106	$	210,229	$	39,363,335
純利益	—	—		—	—		315,771		—		315,771		1,903		317,674
その他の包括損失	—	—		—	—		—		(3,457)		(3,457)		—		(3,457)
Distributions paid and payable	—	—		—	—		(740,125)		—		(740,125)		(3,020)		(743,145)
株式発行（費用控除後	—	—		5,608	317,783		—		—		317,783		—		317,783
Contributions by noncontrolling interests	—	—		—	—		—		—		—		512		512
Share-based compensation, net	—	—		—	7,519		—		—		7,519		—		7,519
Balance, September 30, 2025	—	$	—	919,893	$	49,034,023	$	(10,075,749)	$	92,323	$	39,050,597	$	209,624	$	39,260,221

Balance, June 30, 2024	6,900	$	167,394	870,848	$	46,230,789	$	(7,724,318)	$	75,322	$	38,581,793	$	165,277	$	38,747,070
純利益	—	—		—	—		269,485		—		269,485		1,639		271,124
Other comprehensive income	—	—		—	—		—		28,141		28,141		—		28,141
Distributions paid and payable	—	—		—	—		(691,410)		—		(691,410)		(2,740)		(694,150)
株式発行（費用控除後	—	—		4,354	269,272		—		—		269,272		—		269,272

Contributions by noncontrolling interests	—	—		—	—		—		—		—		489		489
普通株式投資口の発行	—	—		—	(768)		—		—		(768)		47,253		46,485
Preferred shares redeemed	(6,900)	(167,394)		—	—		(5,116)		—		(5,116)		—		(5,116)
Share-based compensation, net	—	—		(5)	6,395		—		—		6,395		—		6,395
Balance, September 30, 2024	—	$	—	875,197	$	46,505,688	$	(8,151,359)	$	103,463	$	38,457,792	$	211,918	$	38,669,710


2025年および2024年9月30日に終了した9ヵ月間

	Shares ofpreferredstock	Preferredstock andpaid incapital		Shares ofcommonstock	Commonstock andpaid incapital		Distributionsin excess ofnet income		Accumulatedothercomprehensive income		Totalstockholders’equity		Non-controllinginterests		Totalequity
Balance, December 31, 2024	—	$	—	891,511	$	47,451,068	$	(8,648,559)	$	38,229	$	38,840,738	$	210,948	$	39,051,686
純利益	—	—		—	—		762,505		—		762,505		5,642		768,147
Other comprehensive income	—	—		—	—		—		54,094		54,094		—		54,094
Distributions paid and payable	—	—		—	—		(2,189,695)		—		(2,189,695)		(9,007)		(2,198,702)
株式発行（費用控除後	—	—		28,096	1,570,720		—		—		1,570,720		—		1,570,720

Contributions by noncontrolling interests	—	—		—	—		—		—		—		2,041		2,041


Share-based compensation, net	—	—		286	12,235		—		—		12,235		—		12,235
Balance, September 30, 2025	—	$	—	919,893	$	49,034,023	$	(10,075,749)	$	92,323	$	39,050,597	$	209,624	$	39,260,221

Balance December 31, 2023	—	$	—	752,460	$	39,629,709	$	(6,762,136)	$	73,894	$	32,941,467	$	165,502	$	33,106,969
純利益	—	—		—	—		661,160		—		661,160		4,831		665,991
Other comprehensive income	—	—		—	—		—		29,569		29,569		—		29,569
Distributions paid and payable	—	—		—	—		(2,045,267)		—		(2,045,267)		(7,438)		(2,052,705)
株式発行（費用控除後	—	—		14,073	818,724		—		—		818,724		—		818,724
Shares issued with merger	6,900	167,394		108,308	6,043,641		—		—		6,043,641		—		6,043,641
Contributions by noncontrolling interests	—	—		—	—		—		—		—		1,770		1,770
普通株式投資口の発行	—	—		—	(768)		—		—		(768)		47,253		46,485
Preferred shares redeemed	(6,900)	(167,394)		—	—		(5,116)		—		(5,116)		—		(5,116)
Share-based compensation, net	—	—		356	14,382		—		—		14,382		—		14,382
Balance, September 30, 2024	—	$	—	875,197	$	46,505,688	$	(8,151,359)	$	103,463	$	38,457,792	$	211,918	$	38,669,710