What's Going On With Realty Income Corporation Stock?

Realty Income Corporation -0.63%
Spirit Realty Capital, Inc. 0.00%

Realty Income Corporation

O

62.01

-0.63%

Spirit Realty Capital, Inc.

SRC

Realty Income Corporation (NYSE:O) shares are volatile Monday. The company has agreed to acquire Spirit Realty Capital Inc. (NYSE:SRC) in an all-stock transaction valued at an enterprise value of approximately $9.3 billion. 

What To Know:

On Monday, Realty Income and Spirit Realty announced that Realty Income will acquire Spirit Realty in an all-stock transaction. The merger will result in an enterprise value of approximately $63 billion for the combined company.

"The merger with Spirit is yet another example of how our size, scale, and unique platform value continue to create substantial value for our shareholders," said Sumit Roy, CEO of Realty Income.

"We expect that this transaction will create immediate and meaningful earnings accretion, while enhancing the diversification and depth of our high-quality real estate portfolio.

"Spirit's assets are highly complementary to our existing portfolio, extending our investments in industries that have proven to generate durable cash flows over several economic cycles."

Realty Income is set to release its third-quarter financial results on Nov. 6 after the market close and will host a conference call to discuss the results at 8:30 a.m. ET on Nov. 7. 

According to estimates from Benzinga Pro, the company is expected to report earnings of 32 cents per share and quarterly revenue of $1.001 billion. 

Related News: What's Going On With Block Inc Stock? 

O Price Action: According to Benzinga Pro, Realty Income Corporation shares are down 6.32% at $45.91 at the time of publication.

Image: PIRO from Pixabay

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via