Finance History | 11 Wall Street — Nineteen and a Half Million Partnership Shares Printed a Monthly Book Called O
· 1994-10
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Finance History | 11 Wall Street — Nineteen and a Half Million Partnership Shares Printed a Monthly Book Called O
kevin
People treat Realty Income as a San Diego net-lease REIT that always printed O after a finished New York book.
The October 1994 issuer was Realty Income Corporation, a Delaware company organized in 1993 to consolidate twenty-five real estate limited partnerships.
The company's 1995 Form 10-K records the mechanics. Partnership investors who took equity received 19,503,080 common shares. Trading on the New York Stock Exchange under the single letter O began on 18 October 1994.
A 2019 company release marking twenty-five years on the Exchange said the first session closed at 8.00 dollars a share in 1994 currency, against a portfolio then counted at 630 properties.
The present tape is O on the New York Stock Exchange.
The mechanism is a partnership roll-up listed as a REIT. The monthly dividend, unusual against the quarterly REIT custom of that decade, was the product the new book sold.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints O.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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