May 6 (Reuters) - Realty Income ( O ) topped Wall Street

expectations for quarterly revenue on Monday, as the company

benefited from higher occupancy and increased rental revenue

from its properties.

The real estate investment trust, which has more than 15,450

properties across the United States and Europe, leases its

locations to clients in a variety of industries including

retail, restaurants, industrial and gaming.

Realty Income ( O ), which has been investing heavily in expanding

its footprint, particularly in Europe, reported total revenue of

$1.26 billion in the first quarter, up from $944.4 million a

year earlier and above analysts' expectations of $1.20 billion,

according to LSEG data.

While property management costs have climbed, the company

has been able to pad its earnings by increasing its investments

in high-growth properties and pushing up rental rates.

San Diego, California-based Realty Income ( O ) reported adjusted

funds from operations of $1.03 per share for the quarter,

compared with analysts' average estimate of $1.05, according to

LSEG data.

Shares of the company were mostly flat in trading after the

bell.