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An announcement from Realty Income ( (O) ) is now available.
On January 8, 2026, Realty Income Corporation closed a private offering of $862.5 million aggregate principal amount of 3.500% convertible senior notes due 2029, including the full exercise of a $112.5 million option granted to initial purchasers. The senior unsecured notes, issued under Rule 144A to qualified institutional buyers, carry semi-annual interest payments, defined conversion rights into common stock at an initial conversion price of about $69.42 per share, and customary provisions for redemption, repurchase upon fundamental change, and events of default. The transaction generated approximately $845.5 million in net proceeds, of which about $101.9 million was used concurrently to repurchase roughly 1.8 million shares of Realty Income’s common stock in privately negotiated deals, with the remainder earmarked for general corporate purposes including refinancing existing debt, funding property development and acquisitions, and other balance-sheet and portfolio management initiatives, reinforcing the company’s capital flexibility and capacity for continued expansion of its global net-lease portfolio.
The most recent analyst rating on (O) stock is a Buy with a $66.00 price target. To see the full list of analyst forecasts on Realty Income stock, see the O Stock Forecast page.
Spark’s Take on O Stock
According to Spark, TipRanks’ AI Analyst, O is a Outperform.
The score is primarily supported by strong financial performance (high margins, solid cash generation, and manageable leverage) and a constructive earnings outlook with raised investment/AFFO guidance and high occupancy. Offsetting factors are neutral technical momentum and valuation pressure from a high P/E, with corporate financing actions adding flexibility but also some dilution/overhang risk.
To see Spark’s full report on O stock, click here.
More about Realty Income
Realty Income Corporation (NYSE: O) is an S&P 500 real estate investment trust that serves as a full-service real estate capital provider and partner to leading global companies. Founded in 1969, it owns a portfolio of more than 15,500 properties across all 50 U.S. states, the U.K. and seven other European countries, and is known as “The Monthly Dividend Company®” for its long track record of paying and steadily increasing monthly dividends, including over 30 consecutive years of dividend increases as a member of the S&P 500 Dividend Aristocrats® index.
Average Trading Volume: 6,095,301
Technical Sentiment Signal: Buy
Current Market Cap: $52.82B
See more data about O stock on TipRanks’ Stock Analysis page.