Realty Income Corp.: Q2 Earnings Snapshot

SAN DIEGO (AP) — SAN DIEGO (AP) — Realty Income Corp. (O) on Wednesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.

The San Diego-based real estate investment trust said it had funds from operations of $1.02 billion, or $1.09 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.09 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $344 million, or 37 cents per share.

The real estate investment trust, based in San Diego, posted revenue of $1.55 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.54 billion.

Realty Income Corp. expects full-year funds from operations in the range of $4.44 to $4.45 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on O at https://www.zacks.com/ap/O