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Realty Income Posts 2014 Increases in Revenue, Net Income

Revenue at Realty Income Corp. rose 19.6 percent in 2014, reaching $933.5 million, as net income available to common stockholders increased 11.7 percent from 2013, totaling $227.6 million, the Escondido-based company reported.

Officials said adjusted funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, posted a 21.3 percent gain from the prior year, reaching $561.7 million.

For the fourth quarter ending Dec. 31, revenue increased 14.5 percent from the prior year, to $247.6 million; net income available to common stockholders totaled $71 million, for a 31.7 percent gain; and adjusted funds from operations rose 15.7 percent, to $145.4 million.

Chief Executive Officer John P. Case said the company completed $1.4 billion in acquisitions during 2014, the second-highest annual tally in its 45-year history. The company was recently added to the S&P High Yield Dividend Aristocrats index, for increasing its dividend every year for the past 20 years.

Realty Income (NYSE: O) is a real estate investment trust that primarily owns industrial, retail and related commercial properties. As of Dec. 31, it owned 4,327 properties in 49 states, leased to 234 commercial tenants doing business in 47 industries.

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