SAN DIEGO, Sept. 2, 2020 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today provided a business update regarding its
contractual rent collection.
|
For the
Quarter Ended
June 30, 2020
|
|
For the
Month Ended
July 31, 2020
|
|
For the
Month
Ended
August 31,
2020
|
|
Through September
1, 2020:
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|
|
|
|
|
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Contractual rent
collected(1) across total portfolio
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87.8%
|
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92.3%
|
|
93.5%
|
|
Contractual rent
collected(1) from top 20
tenants(2)
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82.6%
|
|
90.9%
|
|
92.2%
|
|
Contractual rent
collected(1) from investment grade
tenants(3)
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99.1%
|
|
100.0%
|
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99.9%
|
|
|
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(1)
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Contractual rent is
the aggregate cash amount charged to tenants inclusive of monthly
base rent receivables. U.K. rent (which is payable in pounds
Sterling) was converted at the exchange rate in effect on the first
day of the following month for each month period.
|
|
(2)
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We define top 20
tenants for any period as our 20 largest tenants based on
percentage of total portfolio annualized rental revenue as of the
last day of such period.
|
|
(3)
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We define investment
grade tenants as tenants with a credit rating, and tenants that are
subsidiaries or affiliates of companies with a credit rating, of
Baa3/BBB- or higher from one of the three major rating agencies
(Moody's/S&P/Fitch).
|
The company has either executed deferral agreements or maintains
ongoing deferral discussions with tenants that account for a
majority of the unpaid contractual rent for each of the periods
referenced above. Additional detail on rent collections,
including information regarding industry-specific collection, can
be found in Realty Income's institutional investor presentation
available at
www.realtyincome.com/investors/investor-presentation.
About Realty Income
Realty Income, The Monthly Dividend Company®, is an
S&P 500 company dedicated to providing stockholders with
dependable monthly income. The company is structured as a REIT, and
its monthly dividends are supported by the cash flow from over
6,500 real estate properties owned under long-term lease agreements
with commercial tenants. To date, the company has declared 602
consecutive common stock monthly dividends throughout its 51-year
operating history and increased the dividend 107 times since Realty
Income's public listing in 1994 (NYSE: O). The company is a member
of the S&P 500 Dividend Aristocrats® index.
Additional information about the company can be obtained from the
corporate website at www.realtyincome.com.
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SOURCE Realty Income Corporation