Realty Income Corporation Reports 9.5% Revenue Growth to $1.38 Billion in Q1 2025

Realty Income Corporation reported a significant increase in its financial performance for the first quarter of 2025, with total revenue reaching $1.38 billion, up from $1.26 billion in the same period last year, marking a 9.5% increase. The company's net income attributable to common stockholders also saw a substantial rise, reaching $249.8 million, compared to $132.3 million in the prior year, resulting in a net income per share of $0.28, up from $0.16. This growth was driven by higher rental income and other revenue, which increased due to the expansion of the property portfolio and improved operational efficiencies.

The company experienced notable changes in its asset base, with total assets increasing to $69.76 billion as of March 31, 2025, compared to $68.84 billion at the end of 2024. This growth was primarily attributed to the acquisition of 50 properties during the quarter, which added approximately 3.7 million square feet of leasable space. Realty Income's portfolio now consists of 15,627 properties across the U.S., U.K., and several European countries, with a weighted average remaining lease term of approximately 9.1 years. The company reported a 98.5% occupancy rate, with 231 properties available for lease or sale.

In terms of operational developments, Realty Income's strategic focus on expanding its portfolio through acquisitions and maintaining a diversified client base has proven effective. The company reported that approximately 34.3% of its total annualized base rent comes from investment-grade clients. Additionally, the company raised $635.1 million through its At-the-Market (ATM) program, issuing 11.2 million shares at an average price of $56.26 per share. This capital will support ongoing investments and operational needs.

Looking ahead, Realty Income remains optimistic about its growth trajectory, with plans to continue its strategy of acquiring high-quality properties and expanding its portfolio. The company has also declared a monthly dividend of $0.2685 per share, reflecting its commitment to providing reliable returns to shareholders. However, management cautioned that future dividends and growth may be influenced by macroeconomic conditions, including interest rates and inflation, which could impact client performance and overall market dynamics.