Realty Income Q3 Profit Rises

(RTTNews) - Realty Income Corp. (O) Monday reported third-quarter net income of $233.5 million or $0.33 per share, compared to $219.6 million or $0.36 per share last year.

Funds from operations for the quarter rose to $736.1 million or $1.04 per share, compared to $597.2 million or $0.97 per share last year.

Normalized funds from operations for the quarter rose to $739.0 million or $1.04 per share compared to $600.9 million or $0.97 per share.

Adjusted funds from operations for the quarter were $721.4 million or $1.02 per share, compared to $603.6 million or $0.98 per share.

Total revenues for the quarter rose to $1.04 billion, compared to $837.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.32 per share on revenues of $1 billion for the quarter.

The company raised the bottom end of its AFFO per share guidance to an updated range of $3.98 to $4.01.