Summary by Moomoo AI
Realty Income Corporation, a real estate investment trust (REIT), has announced the offering of 120,000,000 shares of its common stock. The sales agreement, dated February 22, 2024, involves a consortium of financial institutions acting as sales agents or principals, including Robert W. Baird & Co. Incorporated, Barclays Capital Inc., and others. The shares will be offered through ordinary brokers' transactions on the New York Stock Exchange or otherwise at market prices. The proceeds from the sale are intended for general corporate purposes, which may include repaying or repurchasing debt, acquiring additional properties, and other related transactions. The offering allows Realty Income to raise capital, potentially expand its portfolio, and manage its financial position effectively.