The company said net income available to common stockholders for Q1 2024 (3 months) was $129.7 million ($0.16 per share), and AFFO was $862.9 million ($1.03 per share). For the same period a year earlier, net income was $225.0 million and AFFO was $650.7 million.

1. 01

   The company said net income available to common stockholders for Q1 2024 (3 months) was $129.7 million ($0.16 per share), and AFFO was $862.9 million ($1.03 per share). For the same period a year earlier, net income was $225.0 million and AFFO was $650.7 million.

2. 02

   The company said its results for Q1 2024 were affected by merger and integration-related costs of $94.1 million related to the Spirit merger, and by impairment provisions of $89.5 million, mainly on two office properties it acquired and retained in its merger with VEREIT in 2021.

3. 03

   The company said that, excluding the Spirit merger, it invested $598 million in Q1 2024 at an initial weighted average cash yield of 7.8%, and that about 54% of total investment volume was in the U.K. and Europe, at a yield of 8.2%.

4. 04

   The company set its full-year 2024 Normalized FFO guidance at $4.17 to $4.29 per share, AFFO guidance at $4.13 to $4.21 per share, and acquisition volume at approximately $2.0 billion. The company said these three items are the same as the prior outlook it issued on February 21, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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