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Thursday, Oct 6, 2022
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First Quarter Revenue, Net Income Rise at Realty Income Corp.

Realty Income Corp. posted an 8.2 percent increase in first-quarter revenue compared with the same period of 2015, topping $267.1 million, as net income available to common stockholders rose 4.9 percent, to $63.5 million.

Officials of the San Diego-based company said adjusted funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, rose 15.6 percent from a year ago in the quarter ending March 31, reaching more than $175.9 million.

The real estate investment trust in March announced its 74th consecutive quarterly dividend increase, marking its 85th increase overall since the company’s listing on the New York Stock Exchange in 1994.

CEO John P. Case said the company completed approximately $353 million in acquisitions during the first quarter. He said Realty Income has an active pipeline of potential future investments and has raised its guidance to an expected $900 million in acquisitions for the full 2016, up from a previous estimate of $750 million.

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Founded in 1969 and headquartered in Carmel Valley, Realty Income Corp. (NYSE: O) is an S&P 500 company that invests in retail, industrial and related commercial properties. As of March 31, the company owned 4,615 properties in 49 states and Puerto Rico, leased to 243 tenants in 47 industries.

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