Realty Income Stock Price, News & Analysis

Orion Office REIT Inc. (NYSE: ONL) announced it will release its financial results for Q1 2023 on May 9, 2023, after market close. A conference call will follow on May 10, 2023, at 10:00 a.m. ET, hosted by CEO Paul McDowell and CFO Gavin Brandon. Investors can join the call via the company’s website or by phone. This REIT focuses on net lease mission-critical suburban office properties across the U.S. Orion was founded on July 1, 2021, and began trading on the NYSE on November 15, 2021, after spinning off from Realty Income. The company is based in Phoenix, Arizona.

Realty Income Corporation (NYSE: O), known as The Monthly Dividend Company^®, announced its 634^th consecutive monthly dividend of $0.2550 per share, equating to an annualized amount of $3.060. The dividend is scheduled for payment on May 15, 2023, to stockholders on record as of May 1, 2023, with the ex-dividend date set for April 28, 2023. Realty Income, a member of the S&P 500 Dividend Aristocrats^® index, has consistently delivered monthly dividends supported by cash flow from over 12,200 properties. The firm has increased its dividend 120 times since going public in 1994, demonstrating a strong commitment to providing a reliable income stream for shareholders.

Realty Income Corporation (NYSE: O), known as The Monthly Dividend Company, is set to release its operating results for the quarter ended March 31, 2023, following the market close on May 3, 2023. A conference call to discuss these results will be hosted on May 4, 2023, at 11:30 a.m. PT. The company has maintained a reliable dividend history, declaring 633 consecutive monthly dividends and increasing dividends 120 times since its public listing in 1994. As a member of the S&P 500 Dividend Aristocrats, Realty Income primarily invests in real estate assets under long-term net lease agreements, aiming to deliver dependable monthly dividends to its investors.

On April 5, 2023, Realty Income Corporation (NYSE: O) announced the pricing of a public offering of $1 billion in senior unsecured notes. This includes $400 million of 4.70% notes maturing on December 15, 2028, and $600 million of 4.90% notes maturing on July 15, 2033. The effective semi-annual yields to maturity are 4.912% and 5.148%, respectively. Proceeds from this offering will be allocated primarily for general corporate purposes, including the repayment of indebtedness and property acquisitions. The offering is set to close on April 14, 2023. Wells Fargo Securities, Barclays, and other firms are the joint book-running managers for the offering.

Realty Income Corporation (NYSE: O), known as The Monthly Dividend Company, has announced an increase in its common stock monthly cash dividend from $0.2545 to $0.2550 per share, effective April 14, 2023, for stockholders of record as of April 3, 2023. This marks the 120th dividend increase since its NYSE listing in 1994 and brings the annualized dividend to $3.060 per share compared to the previous $3.054. Realty Income has a solid track record with 633 consecutive monthly dividend declarations in its 54-year history.

Orion Office REIT Inc. (NYSE: ONL) reported total revenues of $208.1 million for 2022 but faced a net loss of $(97.5) million, equivalent to $(1.72) per share. Core FFO reached $101.8 million, exceeding guidance by $0.02 per share. Orion completed 0.8 million square feet of lease renewals and sold 11 properties for $33.1 million. The company had a portfolio occupancy rate of 89.0% and 73.3% of annualized base rent from investment-grade tenants. Looking ahead, Orion aims for a Core FFO per share of $1.55 - $1.63 for 2023. A quarterly dividend of $0.10 per share was declared, payable on April 17, 2023.

On March 6, 2023, Realty Income Corporation (NYSE: O) announced a definitive agreement to acquire up to 415 single-tenant convenience store properties from EG Group for approximately $1.5 billion. The acquisition is expected to have an estimated cap rate of 6.9% and a 20-year average initial lease term. Approximately 80% of the annualized rent is anticipated from properties in the Northeast U.S., particularly Massachusetts, New York, and Florida. The deal is expected to close in Q2 2023, pending customary conditions and due diligence.