74.3 F
San Diego
Friday, Sep 30, 2022
-Advertisement-

Third Quarter Revenue Rises 7.1 Percent at Realty Income Corp.

Total third-quarter revenue at Realty Income Corp. rose 7.1 percent from a year ago, reaching $277.2 million for the period ending Sept. 30, the San Diego-headquartered company reported.

Officials of the real estate investment trust reported net income available to common stockholders of $70.3 million, an increase of 15.8 percent from the year-ago period.

Adjusted funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, totaled $186.6 million, up 12.5 percent from a year ago.

In a company statement, Chief Executive Officer John P. Case said Realty Income completed $410 million in commercial property acquisitions during the third quarter, bringing its year-to-date total to approximately $1.1 billion. The company expects that total to reach $1.5 billion by year’s end, revising its previous 2016 estimate of $1.25 billion

- Advertisement -

“Our portfolio remains healthy with occupancy in excess of 98 percent,” Case said. The company recently completed a $600 million offering of 10-year senior unsecured bonds.

Realty Income Corp. (NYSE: O) is based in Carmel Valley and invests primarily in retail, industrial and related commercial properties. As of Sept. 30, the company owned 4,703 properties in 49 states and Puerto Rico, leased to 247 tenants in 47 industries.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-