Realty Income Corp.: Q3 Earnings Snapshot

SAN DIEGO (AP) — SAN DIEGO (AP) — Realty Income Corp. (O) on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The real estate investment trust, based in San Diego, said it had funds from operations of $721.4 million, or $1.02 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $233.5 million, or 33 cents per share.

The real estate investment trust, based in San Diego, posted revenue of $1.04 billion in the period, which met Street forecasts.

Realty Income Corp. expects full-year funds from operations in the range of $3.98 to $4.01 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on O at https://www.zacks.com/ap/O