---
schema_version: "secwatch.filing_event.v1"
accession: "0000726728-25-000049"
form_type: "8-K"
ticker: "O"
cik: "0000726728"
company_name: "REALTY INCOME CORP"
filed_at: "2025-02-24T23:59:59+00:00"
generated_at: "2026-05-26T06:36:27.421810+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000726728-25-000049
- form_type: 8-K
- ticker: O
- cik: 0000726728
- company_name: REALTY INCOME CORP
- filed_at: 2025-02-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/726728/000072672825000049/0000726728-25-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/726728/000072672825000049/o-20250224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000726728-25-000049
- JSON: https://secwatch.observer/filing/0000726728-25-000049.json
- Plain text: https://secwatch.observer/filing/0000726728-25-000049.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.