Realty Income said it now expects full-year 2024 AFFO (Adjusted Funds from Operations) per diluted share of $4.15 to $4.21, compared with prior guidance of $4.13 to $4.21.

1. 01

   Realty Income said it now expects full-year 2024 AFFO (Adjusted Funds from Operations) per diluted share of $4.15 to $4.21, compared with prior guidance of $4.13 to $4.21.

2. 02

   The company said it now expects 2024 investment volume of approximately $3.0 billion, compared with prior guidance of $2.0 billion. The investment volume excludes the Spirit merger.

3. 03

   The company now expects 2024 net income per share of $1.26 to $1.35 (prior guidance $1.23 to $1.35) and Normalized FFO per share of $4.19 to $4.28 (prior guidance $4.17 to $4.29). Both measures include the non-cash interest expense impact related to the Spirit merger.

4. 04

   The company said it kept its 2024 guidance unchanged for same store rent growth of about 1.0%, occupancy above 98%, and income tax expenses of $65 to $75 million. In its footnotes, it said reserve reversals recognized in 2023 represent a headwind of about 30 basis points to same store rent growth.

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Original filing

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