Realty Income, known as 'The Monthly Dividend Company,' reported financial results for the quarter ended September 30, 2024. The company saw a net income of $271.1 million, with a significant portion of revenue generated from rental income, which totaled $1.196 billion excluding reimbursable amounts. This represents a substantial increase from the previous year, driven by property acquisitions and investments in real estate. Interest expenses rose to $261.3 million due to higher average borrowings and interest rates. The company also reported depreciation and amortization expenses of $602.3 million, reflecting the impact of the merger with Spirit and property acquisitions. Realty Income declared a dividend of $0.2635 per share, maintaining its history of consistent monthly dividends. During the quarter, the company invested $0.7 billion in properties and properties under development...Show More

Realty Income, known as 'The Monthly Dividend Company,' reported financial results for the quarter ended September 30, 2024. The company saw a net income of $271.1 million, with a significant portion of revenue generated from rental income, which totaled $1.196 billion excluding reimbursable amounts. This represents a substantial increase from the previous year, driven by property acquisitions and investments in real estate. Interest expenses rose to $261.3 million due to higher average borrowings and interest rates. The company also reported depreciation and amortization expenses of $602.3 million, reflecting the impact of the merger with Spirit and property acquisitions. Realty Income declared a dividend of $0.2635 per share, maintaining its history of consistent monthly dividends. During the quarter, the company invested $0.7 billion in properties and properties under development, and for the nine months ended, investments totaled $2.1 billion. Realty Income raised $271.0 million from the sale of common stock through its ATM program and issued senior unsecured notes to bolster its financial position. The company redeemed all outstanding shares of its 6.000% Series A Preferred Stock, resulting in a loss on redemption of $5.1 million. Looking forward, Realty Income plans to continue its strategy of investing in high-quality real estate acquisitions and maintaining a strong capital structure, with a focus on delivering dependable monthly dividends to shareholders.