Realty Income Announces Operating Results For Third Quarter And First Nine Months Of 2019
https://www.bloomberg.com/press-releases/...first-nine-months-of-2019COMPANY HIGHLIGHTS:
For the quarter ended September 30, 2019:
o Net income per share was $0.32
o AFFO per share increased 2.5% to $0.83, compared to the quarter ended
September 30, 2018
o Invested $411.5 million in 51 properties and properties under development
or expansion
o Raised $572.4 million from the sale of common stock
o Announced transaction to acquire 454 properties from CIM Real Estate
Finance Trust, Inc. ("CMFT") for approximately $1.25 billion in cash
CEO Comments
"Our operating and financial performance continues to drive favorable
results," said Sumit Roy, Realty Income's President and Chief Executive
Officer. "We invested approximately $412 million during the quarter which,
combined with the previously announced portfolio acquisition from CMFT, brings
us to over $3.0 billion of acquisitions announced year-to-date."
"Our balance sheet is well-positioned to capitalize on continued activity in
our investment pipeline. We raised approximately $572 million of equity during
the third quarter primarily through our ATM program, ending the quarter with
full availability on our $3.0 billion revolving credit facility, $236 million
of cash on hand, and a net debt-to-EBITDA ratio of 5.0x."