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Realty Income logs 2.5% YOY increase in Q2 AFFO per share

Realty Income Corp. reported second-quarter funds from operations available to common stockholders of $251.5 million, or 81 cents per share, up from $226.1 million, or 79 cents per share, in the 2018 second quarter.

Adjusted FFO for the second quarter rose from the year-ago period to $253.9 million, or 82 cents per share, from $227.0 million, or 80 cents per share.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the second quarter was 81 cents.

For the second quarter, total revenue came to $365.5 million, up 11.1% from $328.9 million in the year-ago quarter.

The single-tenant retail real estate investment trust expects 2019 FFO and AFFO per share in the respective ranges of $3.26 to $3.31 and $3.28 to $3.33, steady with its earlier projection.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the full year is $3.29.

The company said it sold 18 properties during the second quarter for $28.6 million, with a gain on sales of $6.9 million.

During the same period, the company raised $1.0 billion from the sale of common stock.

In May, it entered into an agreement that provided for the private placement of £315 million in senior unsecured notes due May 2034.