Realty Income Lifts FY21 Outlook

(RTTNews) - Realty Income Corp. (O) Monday lifted its outlook for the full year 2021. The company now expect earnings of $1.39 to $1.44 per share, normalized FFO of $3.43 to $3.48 per share and adjusted FFO of $3.55 to $3.60 per share.

Previously, the company expected earnings of $1.32 to $1.41 per share, normalized FFO of $3.37 to $3.46 per share and adjusted FFO of $3.53 to $3.59 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $1.46 per share.

Commenting on the results, CEO Sumit Roy said, "The closing of the merger with VEREIT and our anticipated subsequent spin-off of substantially all of the combined companies' office properties allows us to provide enhanced clarity on our anticipated near-term earnings run rate, demonstrating what we believe is a compelling risk/reward proposition for investors."

Roy said the company lifted its guidance "assuming the consummation of the spin-off as anticipated on November 12th."