Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

A.    Dividend Increases
In October 2021, we declared a dividend of $0.2360 per share to our common stockholders, which will be paid in November 2021.

B.    VEREIT, Inc. Merger Close
On November 1, 2021, we completed our acquisition of VEREIT, Inc., or VEREIT. Pursuant to the terms and subject to the conditions set forth in the Merger Agreement, each outstanding share of VEREIT common stock and each common unit of VEREIT OP (other than those held by VEREIT, us or our affiliates) was converted into 0.705 shares

of Realty common stock. As a result of the Mergers, former VEREIT common stockholders and VEREIT OP common unitholders received approximately 162 million shares of Realty common stock, based on the shares of VEREIT common stock and common units of VEREIT OP outstanding as of October 29, 2021.We will account for the Merger in accordance with ASC 805, Business Combinations, with Realty Income as the acquirer of VEREIT. ASC 805 requires, among other things, that the assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. Due to the limited time since the Merger, the initial accounting for this transaction is incomplete and, as such, the Company is unable to provide purchase price allocation, supplemental pro forma, and other disclosures.