Realty Income reports Q1 AFFO $1.03, consensus $1.03

Reports Q1 revenue $1.26B, consensus $1.2B. Reports Q1 Same store rental revenue $843.5M vs. $837.1 last year, a 0.8 % increase. “I am pleased with our Q1 results, as we continue to strengthen our role as real estate partner to the world’s leading companies,” said Sumit Roy, Realty Income’s President and CEO. “We remain a highly selective capital allocator based on available product that meets our stringent long-term, risk-adjusted return hurdles. During the quarter, we completed $598M of investment volume at an initial weighted average cash yield of 7.8%. Approximately 54% of total investment volume was in the U.K. and Europe at an initial weighted average cash yield of 8.2%. International growth continues to be a differentiating avenue for Realty Income to generate accretive earnings growth as our unique platform allows us to partner with best-in-class clients in a highly fragmented net lease market.”