Investors interested in Realty Income (O 0.81%) typically are attracted to its monthly dividend payment, consistently growing dividend, and robust yield. While the real estate investment trust (REIT) continues to deliver on those fronts, its stock price performance has been lackluster over the past several years. In fact, its stock price is down more than 30% over the past five years, as of this writing.The stock was slipping once again after the REIT reported its fourth-quarter results and issued disappoin ...

Realty Income (O) , a leading net lease REIT, reported its fourth-quarter and full-year 2024 results early this week. While the company showcased resilience with steady occupancy rates and a strong investment pipeline, its adjusted funds from operations (AFFO) per share miss and macroeconomic headwinds have raised concerns among investors.O’s fourth-quarter 2024 AFFO per share of $1.05 missed the Zacks Consensus Estimate of $1.06, with total revenues of $1.34 billion for the quarter falling short of the con ...

SAN DIEGO, Feb. 27, 2025 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that Sumit Roy, Realty Income's President and Chief Executive Officer, will present at the following upcoming investor conferences:Citi's 30th Annual Global Property CEO Conference Mr. Roy will participate in an analyst-led company fireside chat on Tuesday, March 4, 2025, at 9:35 a.m. EST/6:35 a.m. PSTRaymond James' 46th Annual Institutional Investors Conference Mr. Roy ...

Real estate is a great spot to invest in for those seeking to generate income. Rental properties can provide predictable income as tenants make their rental payments. There's a myriad of ways to make passive income from real estate, including many excellent real estate investment trusts (REITs). The ultimate REIT for dividend income is Realty Income (O -0.25%). It has paid 656 consecutive monthly dividends and has increased its payment 129 times since coming public in 1994, including the last 110 quarters i ...

Core Viewpoint - Realty Income has consistently focused on investing to provide a reliable and growing dividend, successfully raising its dividend 129 times since its public listing in 1994, including 110 consecutive quarters [1] Financial Performance - Realty Income reported $4.19 per share of adjusted funds from operations (FFO) for 2024, marking a 4.8% increase from 2023, extending its growth streak to 14 years [3] - The REIT raised its dividend by approximately 4.5% over the past year, resulting in a yield exceeding 5.6% [3] Growth Drivers - The acquisition of Spirit Realty for $9.3 billion in January was a significant factor, contributing over 2.5% accretion to adjusted FFO per share [4] - Realty Income invested $3.9 billion in nearly 550 properties across the U.S. and Europe, achieving a weighted average initial cash yield of 7.4% [5] - The REIT's long-term net leases allowed for low single-digit annual rent escalations, with a rent recapture rate of 105.6%, indicating a 5.6% average rental increase on re-leased units [6] Future Outlook - Realty Income anticipates adjusted FFO to rise to between $4.22 and $4.28 per share in 2025, reflecting growth of up to 2% [7] - The REIT expects same-store rent growth of approximately 1% and plans for $4 billion in acquisitions to support this growth [7] - The company has a history of conservative guidance, with actual acquisition volumes exceeding initial forecasts in the past year [8] Strategic Initiatives - The launch of a private capital fund management platform is expected to enhance growth and investment returns through management fee income [9] - Successful capital raising for this fund could accelerate growth further [9] Investment Appeal - Realty Income has only experienced one year without growth in adjusted FFO per share and has increased its dividend annually for three decades, making it an attractive option for investors seeking steady passive income growth [10]

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

Realty Income (NYSE: O ) is one of the most popular (if not the most popular) REITs in the market. It is one of retail investors' favourites and a member of the highly valued S&P 500 Dividend Aristocrats. Thirty years ofWelcome to Cash Flow Venue, where dividends do the heavy lifting! Blending my financial chops with the timeless wisdom of value investing (and love for steady income), I’ve built a rock-solid pillar in my financial foundation through dividend investing. I believe it’s one of the most accessi ...

If you're looking for a way to boost your income stream while barely lifting a finger, high-yield dividend stocks are a great way to make it happen. While many investors are poring over every development in the artificial intelligence (AI) space, plenty of quality businesses that distribute steadily growing profits are being ignored.At the moment, you can get a yield of 5.6% from two extremely reliable real estate investment trusts (REITs). W.P. Carey (WPC 2.54%) and Realty Income (O -1.87%) own thousands o ...

Financial Data and Key Metrics Changes - Realty Income achieved AFFO per share growth of 4.8% in 2024, marking the fourteenth consecutive year of growth, with a total operational return of 10.2% for the year [5][6] - The fourth quarter AFFO per share was $1.05, representing a growth of 4% [10] - The company ended the year with a net debt to annualized pro forma adjusted EBITDA of 5.4 times and a fixed charge coverage ratio of 4.7 times [24][25] Business Line Data and Key Metrics Changes - In 2024, Realty Income invested $3.9 billion at a 7.4% weighted average initial cash yield, with 57% of annualized cash income generated from investment-grade clients [8][10] - The company completed 73 discrete transactions in the fourth quarter, with significant investments in both the US ($1.1 billion at a 6.4% yield) and Europe ($650 million at an 8.2% yield) [11][12] - The company sold 80 properties in the fourth quarter for total net proceeds of $138 million, contributing to $589 million from the sale of 294 properties for the full year [15] Market Data and Key Metrics Changes - Realty Income's portfolio occupancy rate remained stable at 98.7% [13] - The company anticipates approximately $4 billion in investment volume for 2025, with a focus on various property types and industries [16] Company Strategy and Development Direction - Realty Income aims to continue driving growth in its core business while exploring new avenues for value generation [6][16] - The company is expanding its private capital initiative to leverage its platform for further investment opportunities [22] - The company remains committed to maintaining a disciplined capital allocation strategy and enhancing its portfolio quality through strategic dispositions [15][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate macroeconomic challenges and highlighted a robust pipeline of investment opportunities [16][31] - The company is cautious about tenant credit and potential impacts from economic volatility, particularly in the retail sector [117][121] - Management expects to achieve AFFO per share growth in the range of 1.4% for 2025, factoring in potential rent losses and impacts from tenant moves [17][18] Other Important Information - Realty Income remains one of the S&P 500 Dividend Aristocrats, having increased its dividend for thirty consecutive years [26] - The company has authorized a $2 billion common stock repurchase program, intended to be leverage neutral [28] Q&A Session Summary Question: Cap rates and expectations going forward - Management expects cap rates to trend around the average seen in 2024 based on the current pipeline [35] Question: Capital recycling and funding acquisitions - Management indicated it is early to provide complete guidance on capital recycling but suggested it would play a role in funding future acquisitions [36] Question: Share repurchase program thresholds - Management clarified that share repurchases will only be conducted on a leverage-neutral basis using free cash flow and proceeds from asset dispositions [43] Question: Health of the overall portfolio and bad debt provisions - Management noted an increase in non-reimbursable expenses and a conservative approach to bad debt provisions, primarily due to a few tenants [46][48] Question: Transaction market split between US and Europe - Management indicated a balanced split between US and European transactions, with a focus on maintaining a robust pipeline [54] Question: Updates on private capital fund - Management stated it is too early to determine the size of the private capital fund, having just opened the data room [126] Question: Tenant credit watch list - Management reported a watch list of 4.8% of tenants, reflecting increased caution due to economic uncertainty [137]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2024, or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 1-13374 REALTY INCOME CORPORATION (Exact name of registrant as specified in its charter) Maryland 33-0580106 (State or Other Jurisdiction of Incorporation or Organiz ...