Realty Income expects 2014 FFO growth of 5-8%

Adjusted FFO per share (adds back ARCT acquisition costs) of $0.60 is up 15.4% Y/Y.

Same store rents of $109.6M gained 1.3%. Occupancy of 98.1% is up 110 basis points.

Portfolio review: 3,866 properties in 49 states and Puerto Rico, leased to 200 businesses in 47 industries. Average weighted remaining term of leases is about 10.9 years.

Q3 acquisitions of 219 properties for $502.7M - 100% leased for roughly 14.7 years with initial lease yield of 7.1%. 72% of revenue comes from investment-grade tenants.

FY13 adjusted FFO per share expected to be $2.38-$2.42, up 16-17% Y/Y.

FY14 guidance of $2.53-$2.58, up 5-8% from 2013.

CC at 4:30 ET.

O -1%.

Comments (2)
  • chis59
    , contributor
    Comments (62) | Send Message
    What am I missing? Seems like a decent quarter, with decent guidance. Mr Market doesn't seem to like it though...
    31 Oct 2013, 12:50 PM Reply Like
  • eddieojr
    , contributor
    Comments (74) | Send Message
    I don't get it either. I've owned O for years and added to my position today. Buying opportunity!
    31 Oct 2013, 01:48 PM Reply Like
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