SAN DIEGO (AP) — SAN DIEGO (AP) — Realty Income Corp. (O) on Wednesday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The San Diego-based real estate investment trust said it had funds from operations of $947.5 million, or $1.05 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.06 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $196.9 million, or 22 cents per share.
The real estate investment trust, based in San Diego, posted revenue of $1.41 billion in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $1.4 billion.
Realty Income Corp. expects full-year funds from operations in the range of $4.24 to $4.28 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on O at https://www.zacks.com/ap/O
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