Realty Income 3Q FFO in line with analyst estimates, revenue beats |
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Wed, 31 Oct 2007 22:39
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SAN FRANCISCO (Thomson Financial) - Realty Income Corp. late Wednesday reported third-quarter earnings from continuing operations of $30.9 million, or 25 cents a share, down from $25.5 million, or 26 cents a share, during the year earlier.The Escondido, Calif.-based real estate investment trust posted net income of $34 million, or 28 cents a share, compared with $26.6 million, or 27 cents a share, last year.Funds from operations came in at $46.6 million, or 47 cents a share, in line with the mean estimate of analysts polled by Thomson Financial. A year ago, FFO totaled $38 million, or 43 cents a share.Realty reported revenue of $74.1 million, ahead of the consensus estimate of $71.9 million. Last year, revenue was $59.2 million.Additionally, Realty said it now expects 2007 FFO of $1.88 to $1.89 a share, versus its previous outlook of $1.86 to $1.89. The company also forecast adjusted per-share earnings of $1.16 to $1.17 for the year.For 2008, Realty said it expects FFO of $1.94 to $2 a share, and adjusted per-share earnings of $1.16 to $1.22.The stock closed out the regular session up 43 cents, or almost 1.5%, at $29.54.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Vornado Realty Trust 3Q funds from operations in line with estimates 