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Dec 31, 2019
Realty Income Q4 2019 Earnings Report
Realty Income reported strong operating results and favorable risk-adjusted returns for shareholders.
Key Takeaways
Realty Income announced operating results for Q4 2019, with AFFO per share increasing by 8.9% to $0.86 compared to the same quarter in 2018. The company invested $1.7 billion in 556 properties and properties under development or expansion, including $221.0 million in five properties in the U.K. Realty Income ended 2019 with a portfolio occupancy of 98.6%.
Net income per share was $0.39.
AFFO per share increased 8.9% to $0.86, compared to the quarter ended December 31, 2018.
Invested $1.7 billion in 556 properties and properties under development or expansion, including $221.0 million in five properties in the U.K.
Generated a rent recapture rate of 106.2% on re-leasing activity.
Forward Guidance
Realty Income expects to invest $2.25 billion to $2.75 billion in 2020 and introduces 2020 AFFO per share guidance of $3.50 to $3.56, representing annual growth of 5.4% to 7.2%.
Positive Outlook
- Investment pipeline remains robust, both domestic and international.
- Company believes it will continue to enjoy excellent access to well-priced capital.
- Expects to invest $2.25 billion to $2.75 billion in 2020 based on current market conditions.
- Continued strength of portfolio.
- Introducing 2020 AFFO per share guidance of $3.50 to $3.56, representing annual growth of 5.4% to 7.2%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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