San Diego-based retail landlord Realty Income Corp. appointed president and COO Sumit Roy as its new CEO, replacing John Case, effective immediately.

Roy joined Realty Income in 2011, while Case has worked at the real estate investment trust for over eight years.

Additionally, the company reaffirmed its previous full-year 2018 guidance for adjusted funds from operations at between $3.16 and $3.21 per share.

The S&P Global Market Intelligence consensus estimate for full-year AFFO per share is $3.19.