Matti Fares's questions to Realty Income Corp (O) leadership • Q4 2024
Question
Matti Fares of Citigroup Inc., on for Smedes Rose, inquired about the company's plans for addressing its 2025 debt maturities and the reasons for the guided increase in income tax expense.
Answer
CFO Jonathan Pong explained that maturities are intentionally staggered and the company has flexibility to refinance in multiple currencies, estimating a modest $0.01 dilution in 2025. He attributed the higher tax expense to increased investment activity in the U.K., which has a statutory tax rate that impacts the global tax run rate.