Realty Income Q3 AFFO $1.05/sh, revenue $1.33B; raises 2024 guidance

REALTY INCOME CORP

2024-Q3 EPS reported $0.75 revenue$3,930,843,000

Net income $261.8M ($0.30/sh) vs $233.5M ($0.33/sh) YoY; AFFO $915.6M ($1.05/sh) vs $721.4M ($1.02/sh).
Total revenue $1.33B, up 28% YoY; invested $740.1M at 7.4% initial weighted average cash yield.
2024 investment volume guidance raised to ~$3.5B; AFFO/sh guidance raised to $4.17-$4.21 (mid-point 4.8% growth).
Portfolio occupancy 98.7%; rent recapture rate 105.0% on re-leased properties; total annualized contractual rent $4.93B.
Issued $500M 5.375% senior notes due 2054 and £700M in sterling notes (5.000% due 2029, 5.250% due 2041).

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