Acquisition And Capital CostsThe disappointing earnings growth and lower acquisition volumes are attributed to Realty Income's elevated WACC, which impedes its ability to raise and deploy capital.
Interest Costs And AFFO GrowthInterest cost headwinds are limiting AFFO per share growth in the estimated years ahead.
Tenant ConcentrationTenant concentrations are increasing, with Realty Income deriving more than a quarter of its rents from C-stores, grocers, and dollar stores, raising concerns about diversification.