Realty Income Q4 FFO Rises

(RTTNews) - Real estate company, Realty Income Corp. (O), Tuesday announced an increase in its Funds from Operations or FFO for fourth quarter.

FFO stood at $713.7 million or $0.98 per share, compared to $664.5 million or $1.05 per share last year.

On adjusted basis, FFO totaled $731 million or $1.01 per share, compared to $634 million or $1 per share prior year.

Earnings decreased to $218.4 million or $0.30 per share from last year's $227.3 million or $0.36 per share.

On average, analysts polled by Thomson Reuters estimated earnings per share of $0.32.

Revenue increased to $1.07 billion from $888.7 million in previous year quarter.

Looking ahead, the company projects AFFO of $4.13 to $4.21 per share and earnings of $1.22 to $1.34 per share for fiscal year 2024.