VEREIT Inc.'s funds from operations attributable to common stakeholders and limited partners for the first quarter stood at $181.8 million, or 16.8 cents per share, down 12.5% on a per-share basis from $190.3 million, or 19.2 cents per share, in the same period in 2019.

For the quarter, adjusted FFO attributable to common stockholders and limited partners rose from the year-ago period to about $181.0 million from $178.4 million. AFFO per share slid to 16.8 cents from 18 cents in the prior-year period.

The S&P Global Market Intelligence consensus FFO and AFFO estimates for the first quarter was 16 cents per share.

VEREIT declared a reduced dividend for the second quarter of 7.7 cents per share, compared to the previous quarterly dividend of 13.75 cents per share. The board will continue to monitor the environment as it considers future dividend declarations.

The diversified real estate investment trust in April withdrew its previously issued guidance for the year due to the uncertainty caused by the coronavirus pandemic.

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VEREIT acquired 25 properties for roughly $146.2 million in the first quarter and sold 30 properties for an aggregate sales price of $133.0 million. The gain on the first-quarter sales was about $25.2 million.

From April 1 through May 7, VEREIT's portfolio dispositions amounted to $54.5 million.

As of May 15, the company had received roughly 81% of April rent and 78% of May rent and is in discussion with tenants regarding unpaid rent. VEREIT received rent relief requests from tenants representing approximately 34% of its rental income on an annualized basis as of May 15.