REIT - Realty Income Lifts '24 Investment Guidance Raises AFFO View | Benzinga
Realty Income (NYSE: O) has announced an increase in its 2024 earnings and investment guidance. The retail REIT now projects its 2024 adjusted funds from operations (AFFO) in the range of $4.15-$4.21 per share compared with the prior guidance range of $4.13-$4.21 per share.
Realty Income also expects its 2024 investment volume to reach $3 billion, up from $2 billion guided earlier. Per management, these raises reflect the company's confidence in its business outlook as it nears the midpoint of the year.
Specifically, management noted that these increases stem from an improving investment environment, mainly in Europe. Also, management pointed out the company's stable operating performance in its high-quality, diversified global real estate portfolio.
Realty Income's accretive buyouts, backed by a healthy balance sheet, bode ...