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