earnings
confidence high
sentiment positive
materiality 0.80
Realty Income Q4 AFFO $1.00 (+6.4% YoY); full-year acquisitions $9.0B; occupancy 99%
REALTY INCOME CORP
2022-FY EPS reported
$1.42
revenue$3,343,681,000
- Q4 normalized FFO $1.05 (+18% YoY); AFFO $1.00 (+6.4% YoY); net income $227.3M ($0.36/diluted share).
- Full-year 2022 AFFO $3.92 (+9.2% YoY); invested $9.0B in 1,301 properties, including $1.7B Encore Boston Harbor casino acquisition.
- Occupancy 99.0% (highest in 20+ years); announced ~$894M acquisition of 185 properties from CIM Real Estate, expected H1 2023.
- Subsequent to Q4: issued $1.1B senior notes (5.05% due 2026, 4.85% due 2030); March dividend raised 2.4% to $3.054 annualized.
- Net debt to annualized pro forma adjusted EBITDAre 5.3x; raised $4.6B from ATM stock sales in 2022.