Realty Income Corporation ( O ) shares are trading lower on Tuesday. On Monday, the company priced a public offering of $500 million in 5.375% senior unsecured notes due 2054.

The notes were offered at 98.374% of the principal amount, resulting in an effective semi-annual yield to maturity of 5.486%.

The company expects to use net proceeds from this offering for general corporate purposes, including the repayment of indebtedness and foreign currency swaps or other hedging instruments.

The offering is expected to close on August 26, pending the satisfaction of customary closing conditions.

This month, the real estate REIT reported second-quarter adjusted FFO of $1.06, beating the consensus of $1.05, and sales of $1.34 billion surpassing the street view of $1.25 billion. As of June 30, the company’s net debt stood at $25.9 billion.

Investors can gain exposure to the stock via Janus Henderson U.S. Real Estate ETF ( JRE ) and NETLease Corporate Real Estate ETF ( NETL )

Price Action: O shares are down 0.53% at $60.54 at the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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