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Spirit Realty revises 2019 AFFO guidance

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Spirit Realty revises 2019 AFFO guidance

Spirit Realty Capital Inc. said it expects its 2019 adjusted funds from operations to range between $3.39 and $3.43 per share, revising its previous guidance of $3.35 to $3.39 per share.

Assuming Spirit MTA REIT's planned $2.4 billion portfolio sale closes Sept. 20, Spirit Realty expects a 12-cent-per-share reduction in its AFFO for the year.

The S&P Global Market Intelligence consensus AFFO-per-share estimate for 2019 is $3.35.

In reporting its second-quarter results, the single-tenant net-lease real estate investment trust said it invested $286.9 million during the period in the acquisitions of 104 properties. The deals reflect an initial weighted-average cash yield of about 6.84%.

Within the three-month period, Spirit Realty sold 18 properties for $130.6 million of gross proceeds.