Today, Realty Income (NYSE:O) announced its results from the second quarter, and it reported its adjusted funds from operations rose by 8.5% over the second quarter of last year to stand at $0.64.

"We are pleased with our second quarter operating results as we continued to see healthy acquisition volumes and consistently positive performance in our portfolio," noted the CEO of Realty Income, John Case, in the earnings announcement. "Our disciplined and selective investment strategy continued to drive earnings and dividend growth."

In total, the adjusted funds from operations (AFFO) at Realty Income rose 22% to stand at $141 million in the second quarter. Yet, this increase was principally the result of the large number of acquisitions Realty Income has made during the last 12 months. In total, $4.7 billion of properties were purchased in 2013.

Realty Income also provided information on the acquisitions it made in the second quarter, which stood at 73 new properties, for a total of $405 million. The company noted that 100% of the properties were leased with an average term of 10.6 years, and 55% of the revenue from the properties came from tenants rated as investment grade.

"Our occupancy at the end of the second quarter was 98.3%, and our year-to-date same-store rent increased by 1.4% from the same period a year ago," added Case when speaking to the properties of Realty Income. "Our portfolio remains quite diversified with no tenant, industry, or state accounting for more than 5.2%, 10.2% or 10.3% of rental revenue, respectively."

In addition to the improvement over the results seen last year, Realty Income also updated its full-year expectations. It now expects to make $1.4 billion of acquisitions instead of the previously noted $1.2 billion. The company also tightened its expectation for its AFFO from the previously announced $2.53 to $2.58 per share to now stand at $2.55 to $2.57.

Overall, the quarter marked another solid one from Realty Income, as it delivered stable results from its core operations.

Patrick Morris owns shares of Realtyome.. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.