Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Following Acquisition, Realty Income Corp. Net Income per Share Up 24%

Today Realty Income (NYSE: O  ) reported its net income per share rose from $0.21 in the fourth quarter of 2012 to $0.26 per share in 2013. For the full year its net income per share was up from $0.86 in 2012 to $1.06 in 2013, representing a gain of 23%.

Total revenue at Realty Income was up 62% in the fourth quarter, but this gain was partially attributable to the $3.2 billion acquisition of American Realty Capital Trust, which was closed in January 2013. In addition, the company issued 9.8 million in new common shares in the fourth quarter, from which it generated net proceeds of approximately $378 million.

"We are pleased to report record results for the fourth quarter and for 2013," noted CEO John Case in a statement. "Record earnings growth also allowed us to increase the dividends paid per share to our shareholders in 2013 by 21.2%, the largest increase in the company's history."

The adjusted funds from operations (AFFO), which adjusts earnings for merger related costs and other one-time revenue or expenses, rose 13% in the fourth quarter. For the full year of 2013, AFFO rose from $2.06 per share to $2.41 per share, a gain of 17%.

Case also highlighted that the company had $1.5 billion in property acquisitions in 2013, excluding the $3.2 billion acquisition of American Realty Capital Trust. It now operates approximately 3,900 properties, an increase of approximately 30% over its holdings at the end of 2012. In addition, its leasable square footage is up by more than 65%, from 37.7 million to 62.2 million square feet.

The company concluded by noting it anticipates that its funds from operations will range between $2.53 and $2.58 per share this year, which would represent a 5% to 7% increase over 2013 levels. 


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2838219, ~/Articles/ArticleHandler.aspx, 9/1/2015 6:08:16 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Patrick Morris

After a few stints in banking and corporate finance, Patrick joined the Motley Fool as a writer covering the financial sector. He's scaled back his everyday writing a bit, but he's always happy to opine on the latest headline news surrounding Berkshire Hathaway, Warren Buffett and all things personal finance.

Today's Market

updated 8 hours ago Sponsored by:
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASD 4,776.51 -51.82 -1.07%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/31/2015 4:06 PM
O $44.69 Down -1.25 -2.72%
Realty Income Corp… CAPS Rating: ****