1Année·

$SRC
$O (+0,39 %) Acquisition


Realty Income acquires Spirit Realty Capital in $9.3 billion transaction


https://www.realtyincome.com/investors/press-releases/realty-income-acquire-spirit-realty-capital-93-billion-transaction


More than 2.5% increase in annualized AFFO per share across all neutral leveraged equity transactions


- Complementary real estate portfolio improves size, scale and diversification to expand runway for future growth


- No reliance on capital markets to complete transaction; real estate income to assume existing debt with low interest rates


SAN DIEGOUndDALLAS, Oct. 30, 2023 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company® and Spirit Realty Capital, Inc. (Spirit, NYSE: SRC) today announced that the two companies have entered into a definitive merger agreement under which Realty Income will acquire Spirit in an all-stock transaction with an enterprise value of approximately $9.3 billion. The leverage-neutral transaction is expected to increase Realty Income's annualized adjusted funds from operations (AFFO) per share by more than 2.5%. In addition, no new debt is expected to be required to finance the transaction. Upon completion of the merger, there will be an enterprise value of approximately $63 billion for the combined company, enhancing Realty Income's size, scale and diversification to expand opportunities for future growth.

23
19 Commentaires

image de profil
Doesn't sound so wrong, then each Spirit Realty Capital owner gets 0.762 Realty Income shares per Spirit Realty Capital share, hence the price jump :D
6
Voir toutes les 4 autres réponses
image de profil
As far as I know, it is not unusual for reits to dilute with new shares. That's how they finance new deals that are supposed to increase profits at the same time. For me it is a win win situation. Of course, if the deal does not generate what realty has planned, it was stupid. However, I trust in their expertise and have bought properly after
3
image de profil
Spirit Realty I had looked at recently and thought hmm is like ne small Realty income xD
2
image de profil
The market does not seem to like that ^^. Whether the price is still approaching 40 today?
1
Voir toutes les 3 autres réponses
image de profil
1Année
Unfortunately, the first linked value is somehow sone "rubber booth". Sao Vang Rubber... 🤣
Voir toutes les 2 autres réponses
image de profil
1Année
Savings plan has been running again for a month. These are buy rates ☺️
image de profil
I have already found an analysis here (English). But of course you should make your own opinion ^^. https://youtu.be/fkzCbriuSHY?si=MAVfUqaXJhov45d_
image de profil
Here is another analysis by Jussi Askola (english): https://m.youtube.com/watch?v=TFf1CWnydcU&t=317s
image de profil
Is that why the price of Realty Income is dropping so hard? Then this purchase would have been bad for all shareholders
Afficher la réponse
Participez à la conversation