Realty Income Corp. Q1 Profit Rises - Quick Facts

(RTTNews) - Realty Income Corp. (O) reported first-quarter net income available to common stockholders of $63.5 million, as compared to $60.5 million for the same quarter in 2015. Net income per share was $0.25 compared to $0.27. The company noted that its net income available to stockholders for the first three months of 2016 was impacted by a non-cash loss of $5.8 million, or $0.02 net income per share, resulting from fair value adjustments on our interest rate swaps.

FFO for the quarter ended March 31, 2016 increased 11.6% to $170.6 million. FFO per share for the quarters ended March 31, 2016 and 2015 was $0.68. AFFO for the quarter ended March 31, 2016 increased 15.6% to $175.9 million. AFFO per share increased 4.5% to $0.70, compared to $0.67. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter ended March 31, 2016 increased 8.2% to $267.1 million, as compared to $246.9 million for the same quarter in 2015. Analysts expected revenue of $266.86 million, for the quarter.

John Case, Realty Income's CEO, said: "We continue to see an active pipeline of investment opportunities and are therefore raising our 2016 acquisitions guidance to approximately $900 million from our initial estimate of $750 million."

The company estimates FFO per share for 2016 of $2.82 to $2.89. The company estimates AFFO per share for 2016 of $2.85 to $2.90. Analysts expect the company to report profit per share of $2.88.