Escondido-based Realty Income Corp. reported record operating results for its third quarter ending Sept. 30, with revenue up 70.2 percent from the year-ago period, to $199.3 million.
Net income available to common stockholders was $41.1 million, up from $27 million in the year-ago quarter.
Normalized funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, rose 68.5 percent, to $116.1 million.
During the third quarter, the company invested $502.7 million in 219 new properties, and properties under development or expansion, in 33 states.
Realty Income (NYSE: O) is a real estate investment trust that holds industrial, retail and related commercial properties. As of Sept. 30, the company’s portfolio included 3,866 properties in 49 states and Puerto Rico.
— SDBJ Staff Report