Realty Income Corp. (O) announced on Monday a first-quarter increase in Adjusted Funds from Operations (AFFO), reaching $862.9 million, or $1.03 per share. This is an increase from the prior year's $650.7 million, or $0.98 per share.
Funds from Operations (FFO) amounted to $785.7 million, or $0.94 per share, compared to the previous year's $684.3 million, or $1.03 per share.
The company recorded a profit totaling $129.7 million, or $0.16 per share, a decrease from the $225 million or $0.34 per share in the same quarter of the previous year.
On average, analysts surveyed by Thomson Reuters had anticipated earnings of $0.39 per share for the period.
The company's revenue rose to $1.26 billion, up from the prior year's $944.4 million.
Looking forward, Realty Income Corp. predicts a profit range of $1.23 to $1.35 per share and an AFFO of $4.13 to $4.21 per share for the fiscal year 2024.
