Realty Income (O) Tops Q3 EPS by 1c, Beats on Revenues; Offers FY17 FFO Guidance

Realty Income (NYSE: O) reported Q3 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $306.9 million versus the consensus estimate of $304.51 million.

2017 Earnings Guidance

We estimate FFO per share for 2017 of $2.96 to $3.01. FFO per share for 2017 is impacted by a $13.4 million non-cash redemption charge on the Class F preferred shares that were redeemed in April 2017, which represents $0.05 per share. FFO per share for 2017 is based on a net income per share range of $1.15 to $1.20, plus estimated real estate depreciation and impairments of $1.88 per share, and reduced by potential estimated gains on sales of investment properties of $0.07 per share (in accordance with NAREIT\'s definition of FFO).

We estimate AFFO per share for 2017 of $3.03 to $3.07. AFFO further adjusts FFO for unique revenue and expense items, which are not as pertinent to the measurement of Realty Income\'s ongoing operating performance.

For earnings history and earnings-related data on Realty Income (O) click here.

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