Realty Income nudges up 2019 guidance

Nov. 04, 2019 4:16 PM ETRealty Income Corporation (O)OBy: Liz Kiesche, SA News Editor12 Comments
  • Realty Income (NYSE:O) Q3 adjusted FFO per share of 83 cents matches the average analyst estimate and is up from 81 cents in the year-ago quarter.
  • 2019 adjusted FFO guidance of $3.29-$3.34, up a penny on both ends from the guidance issued in August; compares with consensus estimate of $3.29.
  • Q3 total revenue of $374.2M beats the average analyst estimate of $369.9M and improves from $338.1M in the year-ago quarter.
  • As of Sept. 30, 2019, portfolio occupancy was 98.3% with 102 properties available for lease out of 5,964; compares with 98.3% as of June 30, 2019 and 98.8% as of Sept. 30, 2018.
  • Invested $411.5M in 51 properties and properties under development or expansion in Q3; along with previously announced portfolio acquisition from CMFT, YTD acquisitions comes to $3.0B.
  • Raised $572.4M from the sale of common stock during the quarter.
  • Conference call on Nov. 5 at 2:30 PM ET.
  • Previously: Realty Income FFO in-line, beats on revenue (Nov. 4)

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