Item 5. Market for Registrant’s Common Equity
Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
A. Our common stock is traded on the NYSE under the ticker symbol “O.” The following table shows the high and low sales prices per share for our common stock as reported by the NYSE, and distributions declared per share of common stock for the periods indicated.
Price Per Share
of Common Stock Distributions
High Low Declared (1)
2020
First Quarter $ 84.92 $ 38.00 $ 0.6980
Second Quarter 65.56 43.41 0.6995
Third Quarter 66.80 56.33 0.7010
Fourth Quarter 65.09 57.09 0.7025
Total $ 2.8010
2019
First Quarter $ 74.14 $ 61.60 $ 0.6770
Second Quarter 73.94 66.21 0.6785
Third Quarter 77.50 67.70 0.6800
Fourth Quarter 82.17 71.45 0.6815
Total $ 2.7170
(1) Common stock cash distributions are declared monthly by us based on financial results for the prior months. At December 31, 2020, a distribution of $0.2345 per common share had been declared and was paid in January 2021.
B. There were approximately 9,500 registered holders of record of our common stock as of December 31, 2020. We estimate that our total number of stockholders is approximately 735,000 when we include both registered and beneficial holders of our common stock.
C. During the fourth quarter of 2020, the following shares of stock were withheld for state and federal payroll taxes on the vesting of employee stock awards, as permitted under the 2012 Incentive Award Plan of Realty Income Corporation:
• 102 shares of stock, at a weighted average price of $61.73, in October 2020;
• 6,018 shares of stock, at a weighted average price of $64.39, in November 2020; and
• 83 shares of stock, at a weighted average price of $60.40, in December 2020.
Item 6: Selected Financial Data
(not covered by Report of Independent Registered Public Accounting Firm)
(dollars in thousands, except for per share data)
The following table sets forth our selected historical consolidated financial information for each of the five years in the period ended December 31, 2020. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2020, 2019 and 2018 and the balance sheet data as of December 31, 2020 and 2019 were derived from our audited consolidated financial statements included elsewhere in this Form 10-K. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2017 and 2016, and the balance sheet data as of December 31, 2018, 2017 and 2016 were derived from our audited consolidated financial statements that are not included in this Form 10-K.
The selected financial data presented below is not necessarily indicative of results of future operations and should be read in conjunction with our consolidated financial statements and the information included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.
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As of or for the Years Ended December 31, 2020 2019 2018 2017 2016
Total assets (book value) $ 20,740,285 $ 18,554,796 $ 15,260,483 $ 14,058,166 $ 13,152,871
Cash and cash equivalents 824,476 54,011 10,387 6,898 9,420
Total debt 8,817,467 7,901,547 6,499,976 6,111,471 5,839,605
Total liabilities 9,722,555 8,750,638 7,139,505 6,667,458 6,365,818
Total equity 11,017,730 9,804,158 8,120,978 7,390,708 6,787,053
Net cash provided by operating activities 1,115,543 1,068,937 940,742 875,850 799,863
Net change in cash, cash equivalents and restricted cash 779,674 49,934 8,929 (3,539) (34,652)
Total revenue 1,651,625 1,491,591 1,327,838 1,215,768 1,103,172
Net income 396,506 437,478 364,598 319,318 316,477
Preferred stock dividends — — — (3,911) (27,080)
Excess of redemption value over carrying value of preferred shares redeemed — — — (13,373) —
Net income available to common stockholders 395,486 436,482 363,614 301,514 288,491
Cash distributions paid to common stockholders 964,167 852,134 761,582 689,294 610,516
Net income per common share:
Basic 1.15 1.38 1.26 1.10 1.13
Diluted 1.14 1.38 1.26 1.10 1.13
Cash distributions paid per common share 2.794000 2.710500 2.630500 2.527000 2.391500
Cash distributions declared per common share 2.801000 2.717000 2.639000 2.537000 2.403000
Basic weighted average number of common shares outstanding 345,280,126 315,837,012 289,427,430 273,465,680 255,066,500
Diluted weighted average number of common shares outstanding 345,415,258 316,159,277 289,923,984 273,936,752 255,624,250
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