Additionally, the company made “significant progress towards establishing a foundation for growth, the core of our business plan, by enhancing portfolio diversification, increasing Cole Capital's market share, moving towards investment grade metrics and instituting a $0.55 per share annualized dividend,” adds Rufrano. “We are positioned to execute in 2016 which will increase balance sheet liquidity and flexibility, while providing optionality.”

PHOENIX—VEREIT Inc. on Wednesday reported adjusted funds from operations of 84 cents per diluted share for 2015, just above the net lease REIT's full-year guidance on AFFO. Its fourth-quarter consolidated revenues of $383.4 million beat analysts' estimates.

More than that, however, '15 was a rebuilding year for the company, which in 2014 had seen the departures of its senior management team following revelations of accounting irregularities. Last year brought a new name, a new management team including CEO Glenn Rufrano and a completely reconstituted board.

The past year also saw VEREIT increase occupancy to 98.6% across its portfolio, with same-store sales growth at 1.2%. It also completed $1.4 billion of dispositions, at the high end of its guidance in this area.

“VEREIT's fourth quarter and 2015 results reinforced the overall strength of our operational and capital allocation capabilities,” Rufrano says. We were able to achieve AFFO per diluted share of $0.84, while meeting our dispositions target of $1.4 billion, reducing $2.4 billion of debt and creating $1.8 billion of capacity on our revolving line of credit.”

Additionally, the company made “significant progress towards establishing a foundation for growth, the core of our business plan, by enhancing portfolio diversification, increasing Cole Capital's market share, moving towards investment grade metrics and instituting a $0.55 per share annualized dividend,” adds Rufrano. “We are positioned to execute in 2016 which will increase balance sheet liquidity and flexibility, while providing optionality.”