Realty Income Boosts Revenue for Fourth Quarter and 2011Friday, February 10, 2012
Realty Income Corp. saw revenue rise 23.6 percent from a year ago in its fourth quarter ending Dec. 31, and full-year revenue increase 22.6 percent, as the Escondido-based investment trust capped a record year for property acquisitions.
The company reported Feb. 9 that revenue for the quarter was $114 million, with the full-year 2011 total at $421.1 million. Funds from operations, an industry metric gauging performance of real estate portfolios, rose 29.7 percent for the quarter, to $68.1 million; and rose 28.6 percent for the year, to $249.4 million.
According to a statement, net income available to common stockholders was up 9 percent from a year ago in the fourth quarter, to $34.9 million; and increased 24 percent for the full year, to $132.8 million.
Chief Executive Officer Tom A. Lewis said the company invested more than $1 billion in 164 new properties during 2011, the highest volume in its history of more than 40 years, and will continue scouting acquisition opportunities in 2012.
Realty Income invests primarily in retail and related commercial real estate. The company trades under the symbol O on the New York Stock Exchange.
— Lou Hirsh