Earnings GrowthRealty Income's initial FY25 AFFO/sh guidance implies just 1.4% growth, falling short of consensus and peers' growth profiles.
Interest CostsInterest 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.