Summary by Futu AI
On February 20, 2024, Realty Income Corporation, a real estate investment trust known as The Monthly Dividend Company, reported its financial results for the fourth quarter and full year ended December 31, 2023. The company announced net income available to common stockholders of $218.4 million, or $0.30 per share, for the quarter, and $872.3 million, or $1.26 per share, for the year. Adjusted Funds From Operations (AFFO) available to common stockholders was $731.0 million, or $1.01 per share, for the quarter, and $2.8 billion, or $4.00 per share, for the year. Realty Income invested $2.7 billion in the fourth quarter, including entering new markets in France, Germany, and Portugal through transactions with Decathlon SE. The company raised $1.6 billion from the sale of common stock and maintained a Net Debt to Annualized Pro Forma Adjusted EBITDAre ratio of 5.5x. Subsequent to the year-end, Realty Income closed a merger with Spirit Realty Capital, Inc. and issued senior unsecured notes to repay maturing debts. The company's portfolio occupancy stood at 98.6% at the end of 2023.