Realty Income
Q2 2022 Earnings Call
Aug 04, 2022, 5:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good afternoon and good morning, and welcome to the Realty Income second quarter 2022 earnings conference call. All participants will be in listen-only mode. [Operator instructions] Please note this event is being recorded. I would now like to turn the conference over to Andrea Behr, manager of corporate communications.
Please go ahead.
Andrea Behr -- Manager of Corporate Communications
Thank you all for joining us today for Realty Income's second quarter operating results conference call. Discussing our results will be Sumit Roy, president and chief executive officer; and Christie Kelly, executive vice president, chief financial officer, and treasurer. Also joining us on our call is Jonathan Palm, senior vice president, corporate finance, together with our One Team leaders. During this conference call, we will make certain statements that may be considered forward-looking statements under federal securities law.
The company's actual future results may differ significantly from the matters discussed in any forward-looking statements. We will disclose in greater detail the factors that may cause such differences in the company's Form 10-Q. I will now turn the call over to our CEO, Sumit Roy.
Sumit Roy -- President and Chief Executive Officer
Thank you, Andrea. Welcome, everyone. Cultivating strong and enduring relationships with all our stakeholders is foundational to the success of our business. And I'd like to thank everyone listening for your continued support.
Additionally, I would like to express my appreciation to all my Realty Income colleagues who continue to make significant contributions toward our growth initiatives while serving our clients and all stakeholders as one Realty Income team. We are pleased with the momentum across all areas of our business amid an uncertain macro environment, which we believe once again demonstrates the stability of our business model and its ability to thrive irrespective of the economic cycle. The strength of our global investment pipeline has allowed us to invest over $3.2 billion in high-quality real estate in the first half of the year, including approximately $1.7 billion during the second quarter. Given this momentum, we are increasing our 2022 acquisitions guidance to over $6 billion.
On the topic of acquisitions, I'd like to mention two key developments that we are observing in the marketplace. First, as demonstrated by the weighted average 5.7% cash cap rate, we were able to achieve on our investments in the second quarter. Cap rates are moving higher in our target markets. Our second quarter cap rate ticked higher compared to the 5.6% and 5.4% cap rates we achieved in the previous two quarters.