Realty Income Q1 AFFO Increases; Revises FY24 Outlook

(RTTNews) - Realty Income Corp. (O), Monday reported an increase in the first-quarter Adjusted Funds from Operations of $862.9 million or $1.03 per share from $650.7 million or $0.98 per share last year.

FFO stood at $785.7 million or $0.94 per share compared to $684.3 million or $1.03 per share in previous year.

Profit totaled $129.7 million or $0.16 per share verus $225 million or $0.34 per share in year-ago quarter.

Analysts, on average, polled by Thomson Reuters estimated earnings of $0.39 per share for the period.

Revenue increased to $1.26 billion from last year's $944.4 million.

Looking ahead, the real estate company now projects profit of $1.23 to $1.35 per share, and a AFFO of $4.13 to $4.21 per share for the fiscal year 2024.