SAN DIEGO (AP) — SAN DIEGO (AP) — Realty Income Corp. (O) on Monday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in San Diego, said it had funds from operations of $921.9 million, or $1.05 per share, in the period.
The average estimate of 10 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 $199.6 million, or 23 cents per share.
The real estate investment trust, based in San Diego, posted revenue of $1.34 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.35 billion.
Realty Income Corp. expects full-year funds from operations in the range of $4.22 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
