Realty Income Stock Price, News & Analysis

Realty Income Corporation (NYSE: O) reported strong operating results for Q3 2021. Net income per share surged to $0.34, up from $0.07 in Q3 2020. Normalized FFO per share increased 8.5% to $0.89, while AFFO per share grew 12.3% to $0.91. The company invested $1.61 billion in 308 properties, including $532.5 million in Europe. Following the merger with VEREIT, Realty Income raised 2021 AFFO guidance to $3.55 - $3.60 per share. The company also achieved a 99.5% rent collection rate for Q3 2021.

Realty Income Corporation (NYSE: O) has completed its merger with VEREIT, Inc. (NYSE: VER), marking a significant consolidation in the net lease sector. The merger, announced on November 1, 2021, was approved by stockholders and allows VEREIT stockholders to receive 0.705 shares of Realty Income for each share held. The combined company aims to leverage its increased scale and diversification to enhance shareholder value. Additionally, a spin-off of office assets into a new REIT, Orion Office REIT Inc. (NYSE: ONL), will occur on November 12, 2021, benefiting stockholders with special dividends.

Realty Income Corporation (NYSE: O) reported significant participation in its exchange offers for VEREIT Notes as of the Early Consent Date, October 22, 2021. A majority of holders submitted valid consents for proposed amendments to the indenture with high tender percentages across various series: 4.600% Notes (97.39%), 4.625% Notes (98.95%), and 4.875% Notes (99.29%). The Exchange Offers will close on November 5, 2021, pending conditions, including the consummation of planned mergers set for Q4 2021. The closing of mergers is not dependent on the Exchange Offers.

Realty Income Corporation (NYSE: O) and VEREIT, Inc. (NYSE: VER) announced the anticipated closing of their merger on November 1, 2021. Concurrently, Realty Income's spin-off of office assets into a new entity, Orion Office REIT Inc. (NYSE: ONL), is effective as of October 22, 2021. Realty Income shareholders will receive one share of Orion for every ten shares held, with the record date set for November 2, 2021 and distribution on November 12, 2021. Shareholders are advised to consult financial advisors regarding tax implications of the transactions.

Realty Income Corporation (NYSE: O) announced on October 14, 2021 the declaration of its 616th consecutive monthly dividend. The dividend is set at $0.236 per share, annualizing to $2.832 per share. Shareholders of record by November 2, 2021 will receive the dividend on November 15, 2021. The ex-dividend date is November 1, 2021. Realty Income is recognized as The Monthly Dividend Company and is a member of the S&P 500 Dividend Aristocrats, with a robust track record of increasing dividends over its 52-year history.

Realty Income Corporation (NYSE: O) announced the closing of a €64 million portfolio transaction in Spain, acquiring three properties leased to Carrefour under long-term agreements. This brings Realty Income's total investment in Spain to approximately €157 million. CEO Sumit Roy emphasized the company's strategic expansion into Continental Europe and the importance of partnerships with key operators like Carrefour, which holds a significant market share in Spain's grocery sector.

Realty Income Corporation (NYSE: O) announced on October 8, 2021, the commencement of exchange offers for VEREIT Operating Partnership notes. Realty Income intends to exchange existing notes for new notes issued by itself, with combined aggregate amounts reaching over $3 billion. The exchange includes various note series with different maturity dates and interest rates. An accompanying consent solicitation aims to amend restrictive covenants on VEREIT notes. The offers will expire on November 5, 2021, with early consent bonuses available for participants.

Realty Income Corporation (NYSE: O), known as The Monthly Dividend Company®, will release its operating results for Q3 2021 on November 1, 2021, post-market close. A conference call is scheduled for November 2, 2021, at 11:30 a.m. PT to discuss these results. Realty Income, an S&P 500 company, has a strong history of providing monthly dividends, having declared 615 consecutive monthly dividends and raised its dividend 112 times since going public in 1994. More details can be accessed on their official website.

Realty Income Corporation (NYSE: O) has successfully completed a €93 million sale-leaseback transaction in Spain, marking its first acquisition in Continental Europe. This strategic move involves seven properties leased to Carrefour, Europe's largest food retailer. The transaction aligns with Realty Income's growth strategy and commitment to partnering with leading operators with stable cash flow. Realty Income has a notable history of consistent dividends, having declared 615 consecutive monthly dividends, supported by a robust portfolio of over 6,700 properties.