San Diego Business Journal

Realty Income Corp. Posts Revenue Increases for Quarter, Year

Monday, February 18, 2013

Escondido-based investment firm Realty Income Corp. saw revenue rise 16.4 percent in its fourth quarter ending Dec. 31, with a revenue increase of 15.9 percent for the full year 2012.

A statement from the real estate investment trust said revenue totaled $130.1 million for the quarter and $475.5 million for the year.

Net income available to common stockholders for the quarter was $28.5 million, down from $34.9 million a year ago; and $114.5 million for the year, down from $132.8 million in 2011.

Adjusting for costs related to the firm’s recently completed $3 billion acquisition of American Realty Capital Trust, normalized funds from operations available to common stockholders totaled $268.8 million for the year, up 7.8 percent from a year ago.

Funds from operations is an industry recognized supplemental metric gauging the performance of real estate portfolios.

Realty Income invested $1.16 billion in acquisitions of 423 commercial properties during 2012. The company trades under the symbol O on the New York Stock Exchange.

— SDBJ Staff Report