Net lease REIT Realty Income Q3 revenue beats estimates

Realty Income

03/11/2025 21:18

Overview

Realty Income Q3 revenue beats estimates, reaching $1.47 bln

AFFO per share for Q3 was $1.08, up from $1.05 last year

Company updates 2025 AFFO guidance to $4.25 - $4.27 per share

Outlook

Realty Income updates 2025 AFFO per share guidance to $4.25 - $4.27

Company raises 2025 investment volume guidance to approximately $5.5 bln

Result Drivers

INVESTMENTS - Realty Income invested $1.4 bln at a weighted average cash yield of 7.7%, contributing to Q3 results

RENT RECAPTURE - Achieved a rent recapture rate of 103.5% on properties re-leased, indicating strong portfolio management

EUROPEAN INVESTMENTS - European investments accounted for $1.0 bln, highlighting their importance in Q3 performance

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$1.47 bln
$1.37 bln (14 Analysts)
Q3 EPS
$0.35
Q3 Net Income
$315.80 mln
Q3 FFO
$981.10 mln
Q3 FFO Per Share
$1.07


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 19 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy."

Wall Street's median 12-month price target for Realty Income Corp is $62.00, about 6.5% above its October 31 closing price of $57.98

The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 38 three months ago

Press Release: ID:nPn8c4Rj0a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)