Realty Income Q2 FFO Surges - Quick Facts

(RTTNews) - Realty Income Corp. (O) reported that its second-quarter funds from operations or FFO increased 82 percent to $118.55 million from $65.17 million in the previous-year quarter. FFO per share rose 22 percent to $0.60 from $0.49 in the prior-year period.

Adjusted Funds from Operations or AFFO for the quarter was $115.6 million or $0.59 per share, up from $66.5 million or $0.50 per share in the same period last year.

Normalized FFO, which is based on FFO adjusted to add back ARCT merger-related costs, rose to $119.2 million or $0.61 per share from $65.2 million or $0.49 per share in the prior-year period.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available to common stockholders for the second quarter was $44.18 million, up from $32.95 million in the same period last year. However, net income per share declined to $0.23 from $0.25 in the year-ago period.

Revenue for the quarter surged 63 percent to $184.32 million from $113.13 million in the year-ago period. Analysts had a consensus revenue estimate of $184.32 million for the quarter.