Realty Income Q4 AFFO $1.05 (+4% YoY); FY AFFO $4.19; announces $2B buyback

REALTY INCOME CORP

2024-FY EPS reported $0.98 revenue$5,271,142,000

Q4 AFFO $1.05/share (+4.0% YoY); FY2024 AFFO $4.19/share (+4.8% YoY). Net income $199.6M ($0.23/diluted share).
Invested $1.7B in Q4 at 7.1% initial cash yield; FY2024 invested $3.9B at 7.4% yield.
Rent recapture rate 107.4% in Q4 and 105.6% for FY2024 on re-leased properties.
Subsequent to Dec 31: Board authorized $2.0B share repurchase program in February 2025.
Net Debt to Annualized Pro Forma Adjusted EBITDAre at 5.4x; portfolio 98.7% occupied with 9.3yr WALT.

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