Realty Income Corporation (NYSE:O) Q3 2023 Earnings Conference Call November 7, 2023 2:30 PM ET

Company Participants

Tyler Grant - Investor Relations

Sumit Roy - President & Chief Executive Officer

Jonathan Pong - Senior Vice President & Head-Corporate Finance

Conference Call Participants

Joshua Dennerlein - Bank of America

Nate Crossett - BNP

Haendel St. Juste - Mizuho

Michael Goldsmith - UBS

Brad Heffern - RBC Capital Markets

Eric Wolfe - Citi

Wes Golladay - Baird

Ron Kamdem - Morgan Stanley

Linda Tsai - Jefferies

Operator

Good day, and welcome to the Realty Income Third Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Tyler Grant, Investor Relations. Please go ahead.

Tyler Grant

Thank you all for joining us today for Realty Income’s third quarter operating results conference call. Discussing our results will be Sumit Roy, President and Chief Executive Officer; and Jonathan Pong, Senior Vice President, Head of Corporate Finance.

During this conference call, we will make statements that may be considered forward-looking statements under federal securities laws. The Company’s actual future results may differ significantly from the matters discussed in any forward-looking statements. We will disclose in greater detail the factors that may cause such differences in the Company’s Form 10-Q. We’ll be observing a two-question limit during the Q&A portion of the call in order to give everyone the opportunity to participate. If you would like to ask additional questions, you may reenter the queue.

I will now turn the call over to our CEO, Sumit Roy.

Sumit Roy

Thank you, Tyler, and welcome, everyone. We are proud of the solid execution we've delivered on our strategy in the third quarter and maintain a favorable outlook for our business. Our One Team at Realty Income continues to work diligently toward delivering strong results to our clients and stakeholders. The resilience, tenacity and range of our One Team has been impressive, culminating in the signing of the merger agreement with Spirit Realty, which we announced last week. This followed a quarter in which we invested $2 billion in high-quality acquisitions, raised over $2 billion in long-term and permanent capital, re-leased 284 properties at a 106.9% recapture rate, supporting an increase to our 2023 AFFO per share guidance range, which now stands at $3.98 to $4.01. I would like to thank our One Team for their leadership efforts and dedication on behalf of all of whom we serve.