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United States
Securities
and Exchange Commission
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date
of report: August 28, 2024
(Date of Earliest Event Reported)
REALTY
INCOME CORPORATION
(Exact name of registrant as specified in
its charter)
Maryland |
|
1-13374 |
|
33-0580106 |
(State or Other Jurisdiction of Incorporation or Organization) |
|
(Commission File Number) |
|
(IRS
Employer Identification No.) |
11995 El Camino Real, San Diego, California 92130
(Address of principal executive offices)
(858) 284-5000
(Registrant’s telephone number, including area code)
N/A
(former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
| |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title
of each class |
|
Trading
symbol |
|
Name
of Each Exchange On Which
Registered |
Common
Stock, $0.01 Par Value |
|
O |
|
New York Stock Exchange |
6.000% Series A Cumulative Redeemable Preferred Stock, $0.01 Par Value |
|
O
PR |
|
New York Stock Exchange |
1.125% Notes due 2027 |
|
O27A |
|
New York Stock Exchange |
1.875% Notes due 2027 |
|
O27B |
|
New York Stock Exchange |
1.625% Notes due 2030 |
|
O30 |
|
New York Stock Exchange |
4.875% Notes due 2030 |
|
O30A |
|
New York Stock Exchange |
5.750% Notes due 2031 |
|
O31A |
|
New York Stock Exchange |
1.750% Notes due 2033 |
|
O33A |
|
New York Stock Exchange |
5.125% Notes due 2034 |
|
O34 |
|
New York Stock Exchange |
6.000% Notes due 2039 |
|
O39 |
|
New York Stock Exchange |
2.500% Notes due 2042 |
|
O42 |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On August 28, 2024, Realty Income Corporation
issued a press release announcing that it intends to redeem all 6,900,000 outstanding shares of its 6.000% Series A Cumulative Redeemable
Preferred Stock (NYSE O PR; CUSIP No. 756109880) (the “Series A Preferred Stock”) on September 30, 2024 (the
“Redemption Date”). The shares of Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share,
plus all accrued and unpaid dividends thereon, whether or not authorized or declared, up to but excluding the Redemption Date, in an amount
equal to approximately $0.375 per share, for a total payment of approximately $25.375 per share. September 30, 2024 will be the final
dividend payment date, with a dividend record date of the close of business on September 12, 2024 (the “Dividend Record Date”).
Only holders of record of Series A Preferred Stock on the Dividend Record Date will be entitled to the dividend payable on the Redemption
Date.
A copy of the press release is filed as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 28, 2024 |
REALTY INCOME CORPORATION |
|
|
|
By: |
/s/ Bianca Martinez |
|
|
Bianca Martinez |
|
|
Senior Vice President, Associate General Counsel and Assistant Secretary |
Exhibit 99.1
REALTY INCOME ANNOUNCES FULL REDEMPTION OF
ITS SERIES A PREFERRED STOCK
SAN DIEGO, CALIFORNIA, August 28,
2024... Realty Income Corporation (“Realty Income”), The Monthly Dividend Company®, (NYSE: O), today
announced that it intends to redeem all 6,900,000 shares outstanding of the company's 6.000% Series A Cumulative Redeemable
Preferred Stock (NYSE: O PR) (the "Series A Preferred Stock"), which was converted from Spirit Realty Capital, Inc.’s outstanding preferred stock in connection with the merger, on September 30, 2024.
The shares will be redeemed at $25.00 per
share, plus accrued and unpaid dividends to September 30, 2024 in an amount equal to approximately $0.3750 per
share, for a total payment of approximately $25.375 per share. The final dividend payment date will be September 30, 2024,
with a record date of September 13, 2024. Accordingly, the redemption price of $25.00 per depositary share does not include any accrued
and unpaid dividends.
The redemption announced today is consistent with
Realty Income’s capital management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and balance
sheet structure.
The redemption agent will be Computershare, Inc.
Attention: Corporate Actions Department, 150 Royall Street, Suite V, Canton, MA 02021. Further details regarding the redemption
will be included in the notice of redemption that the company will send to the record holders of the Series A Preferred Stock.
About Realty Income
Realty Income (NYSE: O), an S&P 500 company,
is real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio
of 15,450 properties in all 50 U.S. states, the U.K., and six other countries in Europe. We are known as "The Monthly Dividend Company®,"
and have a mission to deliver stockholders dependable monthly dividends that grow over time. Since our founding, we have declared 650
consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index, having increased our dividend
for the last 30 consecutive years.
Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated,"
"expect," "believe," "intend," "continue," "should," "may," "likely,"
"plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions
of our business and portfolio (including our growth strategies and our intention to acquire or dispose of properties including geographies,
timing, partners, clients and terms); re-leases, re-development and speculative development of properties and expenditures related thereto;
future operations and results; the announcement of operating results, strategy, plans, and the intentions of management; settlement of
shares of common stock sold pursuant to forward sale confirmations under our at-the-market program; dividends, including the amount, timing
and payment of dividends related thereto; and trends in our business, including trends in the market for long-term leases of freestanding,
single-client properties. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause
our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially
are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or
financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to
debt and equity capital markets and other sources of funding (including the terms and partners of such funding); continued volatility
and uncertainty in the credit markets and broader financial markets; other risks inherent in the real estate business including our clients'
defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate
investments, and potential damages from natural disasters; impairments in the value of our real estate assets; changes in domestic and
foreign income tax laws and rates; our clients’ solvency; property ownership through joint ventures, partnerships and other arrangements
which may limit control of the underlying investments; epidemics or pandemics, measures taken to limit their spread, the impacts on us,
our business, our clients, and the economy generally; the loss of key personnel; the outcome of any legal proceedings to which we are
a party or which may occur in the future; acts of terrorism and war; the anticipated benefits as a result of our merger with Spirit Realty
Capital, Inc.; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees
of future plans and performance and speak only as of the date of this press release. Actual plans and operating results may differ materially
from what is expressed or forecasted in this press release. We do not undertake any obligation to update forward-looking statements or
publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these
statements were made.
Investor Relations:
Steve Bakke
Senior Vice President, Corporate Finance
+1 858 284 5425
sbakke@realtyincome.com
Kelsey Mueller
Vice President, Investor Relations
+1 858 284 5023
kmueller@realtyincome.com
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Realty Income (NYSE:O)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Realty Income (NYSE:O)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024