Realty Income Corporation (O) has reported an 11.45 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $92.44 million, or $0.33 a share in the quarter, compared with $82.94 million, or $0.31 a share for the same period last year. Revenue during the quarter grew 9.17 percent to $287.84 million from $263.67 million in the previous year period.
Total expenses were $201.37 million for the quarter, up 8.87 percent or $16.40 million from year-ago period. Operating margin for the quarter expanded 19 basis points over the previous year period to 30.04 percent.
Operating income for the quarter was $86.48 million, compared with $78.71 million in the previous year period.
Revenue from real estate activities during the quarter increased 9.17 percent or $24.18 million to $287.84 million.
Income from operating leases during the quarter rose 8.90 percent or $22.49 million to $275.22 million. Revenue from tenant reimbursements was $11.36 million for the quarter, up 10.76 percent or $1.10 million from year-ago period.
Revenue from other real estate activities during the quarter was $1.26 million, up 85.80 percent or $0.58 million from year-ago period.
“We are pleased with another year of solid results as our company continues to execute across all areas of the business,” said John P. Case, Realty Income’s chief executive officer. “In 2016, we surpassed $1 billion in rental revenue by completing a record-high volume of property acquisitions and actively managing our portfolio to maximize value. These activities contributed to healthy AFFO per share growth of 5.1% to $2.88, which supported the payment of multiple dividend increases throughout 2016. Given the strong momentum we are seeing in our business, we increased the dividend at the beginning of 2017 by 6% compared to one year ago. For 2017, we are introducing AFFO per share guidance of $3.00 - $3.06, representing earnings growth of 4.2% - 6.3%.”
Net receivables were at $104.58 million as on Dec. 31, 2016, up 28.04 percent or $22.91 million from year-ago.
Total assets stood at $13,152.87million as on Dec. 31, 2016. On the other hand, total liabilities were at $6,365.82 million as on Dec. 31, 2016.
Return on assets was at 0.70 percent in the quarter. At the same time, return on equity was at 1.26 percent in the quarter.
Debt moves up
Total debt was at $5,839.60 million as on Dec. 31, 2016, up 21.13 percent or $1,018.61 million from year-ago. Shareholders equity was at $6,787.05 million as on Dec. 31, 2016. Meanwhile, debt to equity ratio was at 0.86 percent in the quarter.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
