Realty Income (NYSE: O) reported Q4 EPS of $0.33, $0.01 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $418.1 million versus the consensus estimate of $411.64 million.

For the quarter ended December 31, 2020:

• Net income per share was $0.33
• AFFO per share was $0.84
• Collected 93.6% of contractual rent
• Invested $1.01 billion in properties and properties under development or expansion, including $467.2 million in properties in the U.K.
• Issued £400.0 million through the issuance of 1.625% senior unsecured notes due 2030 in our debut Sterling-denominated public debt offering
• Issued $325.0 million of 0.750% senior unsecured notes due 2026 and $400.0 million of 1.800% senior unsecured notes due 2033
• Raised $655.0 million from the sale of common stock

CEO Comments

"We believe the financial and operational resiliency of our business was demonstrated throughout the challenging economic environment in 2020. Our success during the year was largely due to the strength of our partnerships with all stakeholders, including our dedicated and diligent team, our valued clients, and our loyal shareholders," said Sumit Roy, Realty Income's President and Chief Executive Officer. "During the year, we invested over $2.3 billion in high-quality real estate leased primarily to leading operators in resilient industries, of which approximately $921 million was invested internationally, where we continue to expand our addressable market in alignment with our strategic growth objectives."

"Throughout 2020, we maintained a strong financial position and enhanced our financial flexibility, as we established a $1.0 billion commercial paper program and completed our debut public offering of Sterling-denominated senior unsecured notes. In total, we issued approximately $4.1 billion of long-term and permanent capital, which included record-low USD coupon rates in the REIT sector for the 5-year and 12-year unsecured notes issued in December 2020. Based on the strength of our financial position and investment pipeline, we project 2021 acquisition volume of over $3.25 billion, translating into 2021 AFFO per share guidance of $3.44 to $3.49."

For earnings history and earnings-related data on Realty Income (O) click here.