Summary by Moomoo AI
Realty Income, an S&P 500 company known as 'The Monthly Dividend Company,' has reported its financial results for the quarter ended June 30, 2024. The company saw a significant increase in net income available to common stockholders, reaching $256.8 million, compared to $195.4 million in the same period of the previous year. This growth is attributed to a combination of factors including property acquisitions, merger activities, and operational efficiencies. Realty Income's portfolio expanded to 15,450 properties, maintaining a high occupancy rate of 98.8%. The company's total revenue for the quarter was $1.34 billion, a substantial increase from $1.02 billion in the prior year. This growth was driven by a rise in rental revenue, which reached $1.20 billion, up from $907.5 million year-on-year. The company also reported...Show More