Realty Income Corp (NYSE:O) stock fell 2.83% (As on February 25, 11:32:12 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 24. As of December 31, 2024, the company owned or held interests in 15,621 properties, which were leased to 1,565 clients doing business in 89 industries. The diversified portfolio of commercial properties under long-term, net lease agreements is actively managed with a weighted average remaining lease term of approximately 9.3 years. The company’s portfolio of commercial real estate has historically provided dependable rental revenue supporting the payment of monthly dividends. As of December 31, 2024, portfolio occupancy was 98.7% with 205 properties available for lease or sale, as compared to 98.7% as of September 30, 2024 and 98.6% as of December 31, 2023. During the three months ended December 31, 2024, the new annualized contractual rent on re-leases was $52.5 million, as compared to the previous annual rent of $48.9 million on the same units, representing a rent recapture rate of 107.4% on the units re-leased.

Moreover, during the three months ended December 31, 2024, we raised $947.8 million of proceeds from the sale of common stock at a weighted average price of $58.12 per share, primarily through the sale of approximately 16.3 million shares of common stock pursuant to forward sale agreements through the ATM program. As of December 31, 2024, there were approximately 1.8 million shares of unsettled common stock subject to forward sale agreements through the ATM program, representing approximately $91.8 million in expected net proceeds and a weighted average initial gross price of $53.32 per share.

O in the fourth quarter of FY 24 has reported the adjusted earnings per share of 23 cents, missing the analysts’ estimates for the adjusted earnings per share of 37 cents. The company had reported the adjusted revenue of $1.28 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $1.27 billion.  As of December 31, 2024, we had $3.7 billion of liquidity, which consists of cash and cash equivalents of $445.0 million, unsettled ATM forward equity of $91.8 million, and $3.1 billion of availability under the $4.25 billion unsecured revolving credit facility, net of $1.1 billion of borrowing on the revolving credit facility and after deducting $67.3 million in borrowings under the commercial paper programs.