Realty Income guidance a hair shy of estimates

|About: Realty Income Corporation (O)|By:, SA News Editor

Q1 adjusted FFO of $201.3M or $0.76 per share vs. $175.9M and $0.70 one year ago. Dividends totaled $0.624 in Q1, up from $0.588 a year ago.

Portfolio size is 4,980 properties in 49 states and Puerto Rico, leased to 250 different tenants in 47 industries. Average remaining lease term is 9.7 years.

Portfolio occupancy is 98.3% vs. 97.8% a year ago. Economic occupancy of 99%, up 20 basis points Y/Y.

Same-store (4,322 properties) rents up 1.6% Y/Y to $250.2M.

$370.7M invested in 60 new properties during quarter at an initial cash yield of 6.1%. 14 properties sold for $31.2M, with gain on sale of $10.5M.

Full-year AFFO per share guidance of $3.00-$3.06, up 4.2-6.3% from 2016. Street estimates average out to $3.04.

Conference call tomorrow at 2:30 ET

Previously: Realty Income beats by $0.02, beats on revenue (April 25)

O flat after hours