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Realty Income (O)
NYSE:O
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.36Last Year’s EPS
0.16Same Quarter Last Year
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -1.54%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
Realty Income's earnings call demonstrated a strong performance in 2024, characterized by consistent AFFO growth, high portfolio occupancy, and a robust investment pipeline. The company also showcased its strategic capital recycling and sale-leaseback transactions. However, challenges such as a modest AFFO growth outlook for 2025 and potential tenant credit issues were also noted. Overall, the positive highlights outweigh the lowlights, indicating a strong position moving forward.Company Guidance
In the Realty Income Fourth Quarter 2024 Earnings Conference Call, the company reported a 4.8% growth in adjusted funds from operations (AFFO) per share for the year, marking the fourteenth consecutive year of growth. The company delivered a total operational return of 10.2% for the year, with a 5.4% dividend yield for investors. Realty Income invested $3.9 billion at a 7.4% weighted average initial cash yield, achieving a 243 basis points investment spread, which surpassed the historical average of 150 basis points. The fourth quarter saw an AFFO per share growth of 4% to $1.05, with $1.7 billion invested at a 7.1% weighted average initial cash yield. Approximately 57% of the annualized cash income was generated from investment-grade clients. The company maintained a high portfolio occupancy rate of 98.7% and achieved a recapture rate of 107.4% on 266 lease renewals, generating $52 million in new annualized cash rent. Realty Income's strategic position, financial discipline, and diversified portfolio continue to provide stability and long-term growth, with expectations of $4 billion in investment volume for 2025. The company also announced a $2 billion common stock repurchase program, intended to be leverage neutral.Consistent AFFO Growth and Dividend Yield
Realty Income achieved a 4.8% AFFO per share growth in 2024, marking the fourteenth consecutive year of growth, alongside a 5.4% dividend yield, resulting in a total operational return of 10.2% for the year.
Strong Investment Activity
Invested $3.9 billion in 2024 at a 7.4% weighted average initial cash yield with a 243 basis points investment spread, exceeding the historical average of 150 basis points.
High Portfolio Occupancy
Maintained a portfolio occupancy rate of 98.7% by the end of the fourth quarter, in line with the prior quarter.
Successful Capital Recycling Strategy
Sold 80 properties for net proceeds of $138 million in Q4, with full-year net proceeds of $589 million from 294 properties.
Robust Pipeline for 2025
Forecasted approximately $4 billion in investment volume for 2025 based on current investment spreads and visibility to the deal pipeline.
Significant Sale-Leaseback Transaction
Closed a $770 million sale-leaseback transaction with 7-Eleven, marking the sixth such transaction with the company.
Strong Balance Sheet and Liquidity
Ended the year with $3.7 billion of liquidity, including $445 million in cash, and maintained a low exposure to variable rate debt at 4.2%.
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O Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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O Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $57.04 | $55.98 | -1.86% |
| Nov 04, 2024 | $58.17 | $57.71 | -0.79% |
| Aug 05, 2024 | $57.32 | $58.54 | +2.13% |
| May 06, 2024 | $52.93 | $52.52 | -0.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Realty Income (O) report earnings?
Realty Income (O) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Realty Income (O) earnings time?
Realty Income (O) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is O EPS forecast?
O EPS forecast for the fiscal quarter 2025 (Q1) is 0.36.
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