Realty Income Q1 AFFO $1.03/share, revenue up 33% YoY; Spirit merger closed Jan 23

REALTY INCOME CORP

2024-Q1 EPS reported $0.16 revenue$1,260,485,000

Net income $129.7M ($0.16 diluted EPS) vs $225M ($0.34) YoY; includes $94.1M merger costs and $89.5M impairment.
AFFO $862.9M ($1.03/share) compared to $650.7M ($0.98) in prior year.
Total revenue $1,260.5M vs $944.4M YoY, driven by Spirit merger and new investments.
Ex-Spirit invested $598M at 7.8% initial cash yield; 54% in U.K./Europe at 8.2% yield.
Occupancy 98.6%, same-store rental revenue +0.8%; annualized dividend raised to $3.084.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

REALTY INCOME CORP reported financial results for the three months ended March 31, 2024.

Period: the three months ended March 31, 2024
Result: reported results

Exact text from the filing

On May 6, 2024, Realty Income Corporation (the “Company”) issued a press release setting forth its results of operations for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000726728-24-000072

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