Realty Income Reports 3Q Earnings; More of the Same, for Better or Worse
Realty Income reported a relatively quiet third quarter, with revenue and funds from operations per share growth of 7.1% and 5.8% for the quarter, year over year, mainly on the effects of new acquisitions and decreases in interest expense. Company management increased 2016 acquisitions guidance to $1.5 billion from $1.25 billion, which was up from $900 million and $750 million before that. We are maintaining our $51 per share fair value estimate and no-moat rating.With the potential for the inv...
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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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