Summary
Realty Income Corporation (O) filed an 8-K on April 12, 2012, to disclose information regarding a preliminary prospectus supplement for an offering of preferred stock and, importantly, significant acquisition activity. The company announced agreements to acquire approximately $514 million worth of real estate assets during the second quarter of 2012. These acquisitions comprise about 250 properties leased to four tenants across existing industry segments, indicating continued strategic expansion within their established operational framework.
Key Highlights
- 1Announced preliminary prospectus supplement for offering of 1,400,000 shares of 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock.
- 2Reported agreements to acquire properties valued at approximately $514 million in Q2 2012.
- 3Acquisitions consist of approximately 250 properties leased to four different tenants.
- 4All acquired properties are in industries already represented in Realty Income's portfolio.
- 5Future acquisitions are subject to customary closing conditions.
- 6Potential funding sources for acquisitions include borrowings under the acquisition credit facility or additional securities issuances.