Seeking Alpha

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.
  • Q3 results, press release.
  • CC at 4:30 ET.
  • O -1%.
Comments (2)
  • chis59
    , contributor
    Comments (12) | 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 (47) | 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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