Realty Income Corp.: Q4 Earnings Snapshot

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

The real estate investment trust, based in San Diego, said it had funds from operations of $731 million, or $1.01 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 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 $218.4 million, or 30 cents per share.

The real estate investment trust, based in San Diego, posted revenue of $1.08 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $1.05 billion.

For the year, the company reported funds from operations of $2.77 billion. Revenue was reported as $4.08 billion.

Realty Income Corp. expects full-year funds from operations in the range of $4.13 to $4.21 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