Realty Income Announces Operating Results For Third Quarter And First Nine Months Of 2019SAN DIEGO, Nov. 4, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced operating results for the third quarter and nine months ended September 30, 2019. All per share amounts presented in this press release are on a diluted per common share basis unless stated otherwise.
Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation)
COMPANY HIGHLIGHTS :
For the quarter ended September 30, 2019:
Net income per share was $0.32
AFFO per share increased 2.5% to $0.83, compared to the quarter ended September 30, 2018
Invested $411.5 million in 51 properties and properties under development or expansion
Raised $572.4 million from the sale of common stock
Announced transaction to acquire 454 properties from CIM Real Estate Finance Trust, Inc. ("CMFT") for approximately $1.25 billion in cash
CEO Comments
"Our operating and financial performance continues to drive favorable results," said Sumit Roy, Realty Income's President and Chief Executive Officer. "We invested approximately $412 million during the quarter which, combined with the previously announced portfolio acquisition from CMFT, brings us to over $3.0 billion of acquisitions announced year-to-date."
"Our balance sheet is well-positioned to capitalize on continued activity in our investment pipeline. We raised approximately $572 million of equity during the third quarter primarily through our ATM program, ending the quarter with full availability on our $3.0 billion revolving credit facility, $236 million of cash on hand, and a net debt-to-EBITDA ratio of 5.0x."
