What were the main drivers of Realty Income's financial performance in the first quarter of 2011?

The company's financial performance was primarily driven by consistent rental income from its net-leased properties, a diversified tenant base, and successful property acquisitions that expanded its portfolio. Modest growth in net income and total revenue was observed compared to the same period last year.

How is Realty Income managing its liquidity and capital resources?

Realty Income demonstrated effective management of its liquidity and capital resources. The company had access to revolving credit facilities and was actively pursuing financing to support its acquisition and development activities, aiming for favorable terms to maintain its financial flexibility.

What is the outlook for Realty Income's property portfolio and tenant base?

The company's property portfolio remained well-diversified across various industries and geographies, contributing to stable occupancy rates. Management's discussion suggests confidence in the continued strength and reliability of its tenant base, which is fundamental to the company's recurring revenue model.

How does Realty Income measure its operational performance beyond traditional net income?

Beyond traditional net income, Realty Income emphasizes Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) as key metrics. These non-GAAP measures are considered important indicators of the company's operating performance and its ability to generate cash flow available for dividends and reinvestment.

O 10-Q Quarterly Report Q1 FY2011 — Revenue, Net Income, EPS

Summary

Realty Income Corporation (O) reported its first quarter 2011 results, demonstrating continued operational stability and a focus on acquisitions. The company's net income and total revenue showed modest year-over-year growth, reflecting a robust and well-diversified tenant base across its net-leased commercial property portfolio. Management's discussion highlights the company's proactive approach to capital management and its ability to secure favorable financing terms, which is crucial for its growth strategy. Investors should note the company's commitment to its monthly dividend, a core tenet of its investment proposition, and its consistent execution on its business plan.

Financial Highlights

22 data points

Beta

Revenue

$97.28M

Net Income

$36.00M

0.4% Net Margin

Total Assets

$3.77B

Free Cash Flow

$41.53M

Financial Statements

Beta

Revenue	$97.28M
Operating Income	$35.61M
Interest Expense	$25.12M
Net Income	$36.00M
Shares Outstanding (Basic)	118.96M
Shares Outstanding (Diluted)	119.11M

Key Highlights

1Positive net income and revenue growth compared to the prior year's first quarter.
2Continued expansion of the property portfolio through strategic acquisitions.
3Strong occupancy rates indicating stable rental income from its diversified tenant base.
4Effective management of capital resources, including access to credit facilities.
5Commitment to shareholder returns through consistent dividend payments.
6Analysis of Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) provides a clearer view of cash flow available for distribution.

REALTY INCOME CORP Quarterly Report for Q1 Ended Mar 31, 2011

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions