logo
Share SHARE
FONT-SIZE Plus   Neg

Realty Income Q4 FFO Rises - Quick Facts

Realty Income Corp. (O) reported that its fourth-quarter Funds from Operations or FFO increased 5.1% to $71.6 million from $68.1 million for the same quarter in 2011. FFO per share, for the quarter ended December 31, 2012, increased 5.9% to $0.54 as compared to $0.51 for the same quarter in 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted Funds from Operations or AFFO, for the quarter ended December 31, 2012, increased 6.4% to $72.9 million as compared to $68.5 million for the same quarter in 2011. AFFO per share, for the quarter ended December 31, 2012, increased 5.8% to $0.55 as compared to $0.52 for the same quarter in 2011.

Normalized Funds from Operations, which is based on FFO adjusted to add back ARCT merger-related costs, for the quarter ended December 31, 2012, increased 8.7% to $74.0 million as compared to $68.1 million for the same quarter in 2011. Normalized FFO per share, for the quarter ended December 31, 2012, increased 9.8% to $0.56 as compared to $0.51 for the same quarter in 2011.

Net income available to common stockholders for the quarter was $28.5 million as compared to $34.9 million for the same quarter in 2011. Net income per share was $0.21 compared to $0.26 for the same quarter in 2011. The decrease in net income available to common stockholders included $2.4 million of ARCT merger-related costs.

Revenue for the quarter increased 16.4% to $130.1 million as compared to $111.8 million for the same quarter in 2011. Nine analysts had consensus revenue estimate of $124.90 million for the quarter.

Normalized FFO per share for 2013 is expected to be in the range of $2.32 to $2.38 per share, an increase of 14.9% to 17.8% over the Normalized 2012 FFO per share of $2.02. Normalized FFO per share for 2013 is based on an estimated net income per share range of $1.05 to $1.11, plus estimated real estate depreciation of $1.50 and reduced by potential estimated gains on sales of investment properties of $0.23 per share. Analysts expect the company to report earnings of $2.37 per share for fiscal 2013.

AFFO per share for 2013 is anticipated to be in the range of $2.33 to $2.39 per share, an increase of 13.1% to 16.0% over the 2012 AFFO per share of $2.06.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walt Disney Co. (DIS) is reportedly in talks to buy a stake in Major League Baseball Advanced Media. According to LA Times, citing people with knowledge of the matter, Disney is seeking to acquire one-third interest in the MLB.com, which develops and manages the league's digital products. The deal... Postal Savings Bank of China, one of the biggest banks in China, seeks to raise about $8 billion in an initial public offering, which could be the biggest IPO of the year. Postal Savings Bank of China plans to list its stock in the Hong Kong stock exchange. According to reports, the Postal Savings... Sporting goods retailer Dick's Sporting Goods, Inc. has emerged as the successful bidder in the bankruptcy auction for its former rival Sports Authority Holding Inc.'s intellectual property assets and the right to acquire 31 store leases.
comments powered by Disqus
Follow RTT