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Realty Income Corp (O) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

SEC Filings

Realty Income Corp

CIK: 726728 Ticker: O

Exhibit 99.1

 

 

REALTY INCOME ANNOUNCES OPERATING RESULTS FOR
FOURTH QUARTER AND 2015

 

SAN DIEGO, CALIFORNIA, February 10, 2016....Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company

®, today announced operating results for the fourth quarter and year ended December 31, 2015.  All per share amounts presented in this press release are on a diluted per common share basis unless stated otherwise.

 

COMPANY HIGHLIGHTS:

 

For the year ended December 31, 2015:

 

·      AFFO per share increased 6.6% to $2.74, compared to the year ended December 31, 2014

·      Invested $1.26 billion in 286 new properties and properties under development or expansion

 

For the quarter ended December 31, 2015:

 

·      AFFO per share increased 4.6% to $0.68, compared to the quarter ended December 31, 2014

·      Invested $204.2 million in 104 new properties and properties under development or expansion

·      Increased the monthly dividend in December for the 83rd time and for the 73rd consecutive quarter

·      In October, generated net proceeds of $517.1 million in an 11.5 million share common stock offering

 

Event subsequent to December 31, 2015:

 

·                  Increased annualized dividends paid per common share by 5.0% to $2.382 in February 2016 from $2.268 in February 2015

 

CEO Comments

 

“Our solid financial and operating performance for the fourth quarter contributed to excellent results in 2015,” said John P. Case, Realty Income’s Chief Executive Officer. “Our 2015 AFFO per share increased 6.6% to $2.74, driven primarily by a near-record volume of property-level acquisitions, favorable pricing and terms on our capital raising activities, and healthy portfolio occupancy. These results supported multiple dividend increases throughout 2015 and at the beginning of 2016.  With the payment of the February 2016 dividend, we will have grown our dividend by 5% as compared to the same month a year ago.”

 

“In 2015, we completed $1.26 billion in acquisitions, which is our third most active year for acquisitions in the company’s history. We primarily funded our investment activity by issuing $1.2 billion of common equity. Our balance sheet is well-positioned today with approximately 75% of our market capitalization represented by equity, the highest level in ten years. We also currently have $1.63 billion available on our $2 billion credit facility which offers plenty of financial flexibility as we continue to grow our company in 2016.”

 

“Our portfolio occupancy at the end of 2015 was 98.4%, up from 98.3% last quarter. We were able to achieve this high level of occupancy despite managing our most active year ever for lease expiration activity. We re-leased 253 properties with expiring leases to existing or new tenants, at rent above our expiring rent.”

 

Financial Results

 

Revenue

Revenue for the quarter ended December 31, 2015 increased 6.5% to $263.7 million, as compared to $247.6 million for the same quarter in 2014. Revenue for 2015 increased 9.6% to $1.023 billion, as compared to $933.5 million for 2014.

 

Net Income Available to Common Stockholders

Net income available to common stockholders for the quarter ended December 31, 2015 was $76.2 million, as compared to $71.0 million for the same quarter in 2014. Net income per share for the quarter ended December 31, 2015 was $0.31,

 

 


The following information was filed by Realty Income Corp (O) on Wednesday, February 10, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Income
At-the-market (atm) Program
At-the-market (atm) Program (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Common Stock Incentive Plan
Common Stock Incentive Plan (details)
Common Stock Incentive Plan (tables)
Credit Facility
Credit Facility (details)
Distributions Paid And Payable
Distributions Paid And Payable (details)
Distributions Paid And Payable (tables)
Dividend Reinvestment And Stock Purchase Plan
Dividend Reinvestment And Stock Purchase Plan (details)
Employee Benefit Plan
Employee Benefit Plan (details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details)
Fair Value Of Financial Instruments (tables)
Gain On Sales Of Investment Properties (details)
Gain On Sales Of Real Estate
Investments In Real Estate
Investments In Real Estate (details)
Investments In Real Estate (tables)
Issuance Of Common Stock
Issuance Of Common Stock (details)
Mortgages Payable
Mortgages Payable (details)
Mortgages Payable (tables)
Noncontrolling Interests
Noncontrolling Interests (details)
Noncontrolling Interests (tables)
Notes Payable
Notes Payable (details)
Notes Payable (tables)
Operating Leases
Operating Leases (details)
Operating Leases (tables)
Organization And Operation
Organization And Operation (details)
Redemption Of Preferred Stock
Redemption Of Preferred Stock (details)
Schedule Iii Real Estate And Accumulated Depreciation
Schedule Iii Real Estate And Accumulated Depreciation - Properties (details)
Schedule Iii Real Estate And Accumulated Depreciation - Summary Of Activity (details)
Segment Information
Segment Information (tables)
Segment Information - Assets (details)
Segment Information - Rental Revenue (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements (policies)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements (tables)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements - Discontinued Operations, Revenue Recognition, Accounts Receivable (details)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements - Net Income Per Common Share (details)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements - Pp&e (details)
Summary Of Significant Accounting Policies And Procedures And Recent Accounting Pronouncements - Provision For Impairment (details)
Supplemental Detail For Certain Components Of Consolidated Balance Sheets
Supplemental Detail For Certain Components Of Consolidated Balance Sheets (tables)
Supplemental Detail For Certain Components Of Consolidated Balance Sheets - Accounts Payable, Acquired Lease Intangibles, And Other Liabilities (details)
Supplemental Detail For Certain Components Of Consolidated Balance Sheets - Acquired Lease Intangible Assets (details)
Supplemental Detail For Certain Components Of Consolidated Balance Sheets - Distributions Payable (details)
Supplemental Detail For Certain Components Of Consolidated Balance Sheets - Other Assets (details)
Supplemental Disclosures Of Cash Flow Information
Supplemental Disclosures Of Cash Flow Information (details)
Term Loan
Term Loan (details)
Ticker: O
CIK: 726728
Form Type: 10-K Annual Report
Accession Number: 0001104659-16-095923
Submitted to the SEC: Thu Feb 11 2016 4:55:53 PM EST
Accepted by the SEC: Thu Feb 11 2016
Period: Thursday, December 31, 2015
Industry: Real Estate Investment Trusts

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