Aug 5 (Reuters) - Realty Income ( O ) edged past Wall

Street expectations for second-quarter funds from operations

(FFO) on Monday, as the real estate investment trust benefited

from higher rental revenue at its properties.

The REIT, which has more than 13,400 properties across the

United States and Europe, leases its locations to clients across

industries such as retail, restaurants, industrial and gaming.

While property management costs climbed, the company was

able to cushion its FFO by pushing up rental rates and investing

in high-growth properties.

Same-store rental revenue for quarter ended June 30 came in

at $1 billion, compared with $998.2 million a year earlier.

Realty Income ( O ) reported total revenue of $1.34 billion in the

quarter, above analysts' average estimate of $1.25 billion,

according to LSEG data.

The San Diego, California-based company posted adjusted FFO

of $1.06 per share, compared with analysts' estimate of $1.05.

It cut 2024 net income forecast to be in the range of $1.21

to $1.30 per share from its previous projection of $1.26 to

$1.35 per share, but maintained expectations for annual adjusted

FFO.