Realty Income, an S&P 500 company known as 'The Monthly Dividend Company,' has reported its financial results for the quarter ended June 30, 2024. The company saw a significant increase in net income available to common stockholders, reaching $256.8 million, compared to $195.4 million in the same period of the previous year. This growth is attributed to a combination of factors including property acquisitions, merger activities, and operational efficiencies. Realty Income's portfolio expanded to 15,450 properties, maintaining a high occupancy rate of 98.8%. The company's total revenue for the quarter was $1.34 billion, a substantial increase from $1.02 billion in the prior year. This growth was driven by a rise in rental revenue, which reached $1.20 billion, up from $907.5 million year-on-year. The company also reported...Show More

Realty Income, an S&P 500 company known as 'The Monthly Dividend Company,' has reported its financial results for the quarter ended June 30, 2024. The company saw a significant increase in net income available to common stockholders, reaching $256.8 million, compared to $195.4 million in the same period of the previous year. This growth is attributed to a combination of factors including property acquisitions, merger activities, and operational efficiencies. Realty Income's portfolio expanded to 15,450 properties, maintaining a high occupancy rate of 98.8%. The company's total revenue for the quarter was $1.34 billion, a substantial increase from $1.02 billion in the prior year. This growth was driven by a rise in rental revenue, which reached $1.20 billion, up from $907.5 million year-on-year. The company also reported an increase in funds from operations (FFO) to $929.1 million, a 35% increase from the previous year, and adjusted funds from operations (AFFO) to $921.1 million, a 37.1% increase. Realty Income's strategic investments and development projects contributed to its robust financial performance, with investments totaling $0.8 billion during the quarter. The company's future plans include continuing its policy of paying monthly dividends, with a declared dividend of $0.2630 per share to be paid in August 2024. Additionally, Realty Income has committed $393.9 million under construction contracts for development projects, indicating a focus on growth and expansion.