Realty Income Reports 1Q Results; Even Tires Aren't Safe in Current Retail Environment
We do not see anything in Realty Income’s first-quarter results that would alter our long-term view of the company. Adjusted funds from operations per share rose 3.9% from the same period last year, to $0.79. Top-line results were off to a strong start with overall revenue rising 6.8% to $318 million. We have confidence that the company will continue to push rents to its portfolio of tenants. On the whole, we think Realty Income’s tenant base is represented by a solid mix of defensive, e-commerc...Realty Income is a real estate investment trust. The company invests in commercial real estate. The company owns a portfolio of properties located in various states, Puerto Rico and United Kingdom.
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