Realty Income Earnings: Here’s Why Shares are Up Now
Realty Income Corp. (NYSE:O) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.6%.
Realty Income Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 32.61% to $0.61 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Rose 49.67% to $171.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Realty Income Corp. reported adjusted EPS income of $0.61 per share. By that measure, the company beat the mean analyst estimate of $0.58. It beat the average revenue estimate of $167.1 million.
Quoting Management: Chief Executive Officer, Tom A. Lewis said, “The first quarter of 2013 was the best quarter for operations in our 44-year history. We are pleased to report significant increases in all facets of the company’s operations during the quarter, including continued strength in the performance of our real estate portfolio, with occupancy increasing to 97.7% and a record level of acquisition activity.”
Key Stats (on next page)…