Realty Income stock (NYSE:O) is unmoved after hours as the company reported its latest quarterly earnings results late in the day, which were stronger than what analysts were calling for in their consensus estimate.
The company said that for its third quarter of fiscal 2018, it brought in funds from operations of $236.2 million, or 81 cents per share. The figure is key in the San Diego-based real estate investment trust’s profitability every period and it was better than what analysts were calling for.
The average estimate of 11 analysts who were surveyed by Zacks Investment Research was for funds from operations of 79 cents per share for Realty Income in the period. The metric funds from operations is an integral one in the REIT industry, taking net income and adding back items such as depreciation and amortization.
The company said that for the period, it brought in net income of $99 million, or 34 cents per share. Realty Income that it raked in revenue of $338.1 million for the period, which is also better than what Wall Street was calling for.
Five analysts polled by Zacks were projecting Realty Income to bring in revenue of $334.2 million. The company said that it expects its full-year funds from operations to be in the range of $3.18 to $3.24 per share.
O stock was unmoved after the bell as the company reported its latest quarterly earnings results late in the day Wednesday, which were ahead of what analysts were calling for. The stock had been sliding about 1.5% during regular trading hours in anticipation of the company’s quarterly earnings results.
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