Realty Income dips after planned $750 mln convertible bond unveil

Realty Income's O.N shares down 0.7% at $57.46 in extended trading as co looks to raise capital

Commercial real estate investment trust announces private offering of $750 mln convertible bonds (CBs) due 2029

Co plans to use net offering proceeds for general purposes, including repayment or repurchase of indebtedness (including $500 mln outstanding of its 5.05% notes due Jan 2026, and/or borrowings under its revolving credit facilities and commercial paper programs), redevelopment and acquisition of additional properties, among other uses

It also intends to use some proceeds to repurchase its shares from initial purchasers of the CBs

San Diego, California-based O has ~919.9 mln shares outstanding for about $53 bln market cap

O shares on Mon closed up 0.9% at $57.85. Stock gained 5.5% in 2025 vs S&P 500 Real Estate Index .SPLRCR 0.3% loss

Of 23 analysts covering O, recommendation breakdown is 5 "strong buy" or "buy", 17 "hold" and 1 "sell"; median PT $62, per LSEG data