Realty Income Earnings: A Fantastic Second Quarter
Net-lease retail REIT Realty Income Corporation (NYSE: O) reported second-quarter earnings that not only showed impressive revenue and FFO numbers, but gave investors several other reasons to smile as well. While the real estate sector has been a major laggard over the past year or so, Realty Income's long-term thesis appears to be doing just fine.
First, let's take a look at Realty Income's revenue and FFO for the quarter, both of which showed impressive growth. Revenue came in at $300.2 million, a 10.8% year-over-year increase, while the adjusted FFO of $0.76 per share represents a 7% growth rate.
During the quarter, Realty Income announced its 79th quarterly dividend increase in a row, and the stock now pays 6% more on an annualized basis than it did a year ago. Since its 1994 NYSE listing, Realty Income's dividend has grown at a 4.7% annualized rate.
Source: Fool.com
Realty Income Corp Stock
With 14 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 57 € shows a slightly positive potential of 6.5% compared to the current price of 53.52 € for Realty Income Corp.
