NYSE$O
Realty Income Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Realty Income's Q3 2024 operating results reflected disciplined execution and benefits of its global platform.
Realty Income Corporation reported net income available to common stockholders of $261.8 million, or $0.30 per share, and AFFO of $915.6 million, or $1.05 per share. The company invested $740.1 million at an initial weighted average cash yield of 7.4% and increased its 2024 investment volume guidance to approximately $3.5 billion and raised the low-end of its AFFO per share guidance to a range of $4.17 to $4.21 per share.
- Net income available to common stockholders was $261.8 million, or $0.30 per share.
- AFFO available to common shareholders was $915.6 million, or $1.05 per share.
- Invested $740.1 million at an initial weighted average cash yield of 7.4%.
- Achieved a rent recapture rate of 105.0% on properties re-leased.
Headline financials
Revenue & EPS history
Realty Income · Revenue · Quarterly
$1.33B
Forward guidance
Realty Income revised its 2024 earnings guidance, expecting net income per share between $1.15 and $1.20, Normalized FFO per share between $4.16 and $4.21, and AFFO per share between $4.17 and $4.21. The company anticipates same-store rent growth of approximately 1.0%, occupancy over 98%, and investment volume of approximately $3.5 billion.
Tailwinds
- Same store rent growth approximately 1.0%
- Occupancy over 98%
- Cash G&A expenses (% of revenues) approximately 3.0%
- Income tax expenses $65 - $75 million
- Investment volume approximately $3.5 billion
Headwinds
- Net income per share $1.15 - $1.20
- Real estate depreciation and impairments per share $2.96
- Other adjustments per share $0.05
- Normalized FFO per share $4.16 - $4.21
- AFFO per share $4.17 - $4.21
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.3%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-1.2%
Avg return
30 days after
38%
25 / 65 earnings
Positive
+6.7%
Q4 2015
Best reaction
-5.1%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.7% | -2.5% | -4.2% | |
| Q4 2025 | +0.6% | +1.6% | -8.8% | |
| Q3 2025 | -2.9% | -2.3% | +0.0% | |
| Q2 2025 | +0.3% | +1.3% | +4.2% | |
| Q1 2025 | -0.3% | -0.4% | -1.9% | |
| Q4 2024 | -1.9% | -0.5% | -2.0% | |
| Q3 2024 | -0.1% | -2.3% | -4.6% | |
| Q2 2024 | +1.9% | +2.1% | +5.7% | |
| Q1 2024 | -0.4% | -0.5% | -2.2% | |
| Q4 2023 | +0.7% | +1.2% | +0.3% | |
| Q3 2023 | -0.3% | -1.6% | +7.6% | |
| Q2 2023 | -3.2% | -1.1% | -7.5% | |
| Q1 2023 | +0.9% | +2.2% | -2.8% | |
| Q4 2022 | -0.9% | -1.7% | -10.4% | |
| Q3 2022 | -0.9% | +1.5% | +1.1% | |
| Q2 2022 | -0.5% | +0.6% | -7.0% | |
| Q1 2022 | -0.8% | -4.6% | -0.5% | |
| Q4 2021 | -2.1% | +1.2% | +0.2% | |
| Q3 2021 | +0.8% | +0.5% | -4.8% | |
| Q2 2021 | +0.2% | +0.5% | +3.0% | |
| Q1 2021 | -0.1% | -1.5% | +2.1% | |
| Q4 2020 | +2.1% | -1.4% | +3.5% | |
| Q3 2020 | +2.4% | +0.2% | +5.0% | |
| Q2 2020 | +3.0% | +4.4% | +5.8% | |
| Q1 2020 | +0.5% | +5.9% | +16.2% | |
| Q4 2019 | +1.9% | +2.2% | -41.0% | |
| Q3 2019 | -3.5% | -5.9% | -6.3% | |
| Q2 2019 | -0.3% | +3.8% | +9.2% | |
| Q1 2019 | +0.3% | -0.1% | +0.1% | |
| Q4 2018 | -0.5% | -0.7% | +3.8% | |
| Q3 2018 | -0.3% | +0.1% | +4.4% | |
| Q2 2018 | +2.0% | +3.3% | +5.0% | |
| Q1 2018 | +0.4% | +0.6% | +1.3% | |
| Q4 2017 | -0.2% | +2.4% | -0.1% | |
| Q3 2017 | -2.8% | -1.4% | +2.6% | |
| Q2 2017 | +0.9% | -0.6% | +1.1% | |
| Q1 2017 | -1.4% | -2.9% | -8.2% | |
| Q4 2016 | +2.2% | +2.6% | -3.3% | |
| Q3 2016 | -5.1% | -4.9% | -9.2% | |
| Q2 2016 | +0.8% | +2.9% | -6.2% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +6.7% | — | — | |
| Q3 2015 | -1.3% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2014 | +1.2% | — | — | |
| Q3 2014 | +3.0% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | -1.6% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | -2.8% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q3 2011 | -1.9% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q1 2011 | -1.3% | — | — | |
| Q4 2010 | -0.2% | — | — | |
| Q3 2010 | -2.4% | — | — | |
| Q2 2010 | -1.6% | — | — | |
| Q1 2010 | -1.2% | — | — |
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