Jason Wen's questions to Realty Income Corp (O) leadership • Q4 2024
Question
Jason Wen of Barclays asked about the reasons for changes in development spending and yields in 2024, and the assumptions for development in the 2025 guidance.
Answer
CEO Sumit Roy explained that development yields are increasing as newer projects, originated in a higher interest rate environment, are completed and delivered. He anticipates that the proportion of investment volume from development in 2025 will be similar to 2024 levels, driven by repeat business with existing clients.