Realty Income (O) announced its 676th consecutive monthly dividend of $0.2715 per share, or $3.258 annualized. The REIT manages about 15,500 properties across all 50 U.S. states, the UK and eight other European countries, with top tenants Dollar General, Walgreens and 7-Eleven. It has raised its dividend for 31 consecutive years, qualifies as a Dividend Aristocrat®, and its yield stands at 5.95%. The stock is down almost 3% so far this year, versus a gain of more than 13% for the S&P 500, and has fallen about 7% over the past 52 weeks; as a REIT reliant on debt, it faces headwinds as the Federal Reserve begins a rate-hiking cycle. The author views it as a stock income investors should consider, noting it is cheaper than it has been in a while.
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Realty Income (O), a REIT that leases properties mainly to brick-and-mortar retailers, raised its monthly dividend in September for the 116th consecutive quarter, extending a 29-year streak. The REIT owns about 15,500 properties, with tenants including Dollar General, Tractor Supply, Home Depot and 7-Eleven, and its occupancy rate has consistently been above 98%. Since payments began in 1995, dividends have grown at an average yearly rate of 4.1%, which the article describes as beating inflation, and it cites a forward-looking dividend yield of 6%. The article notes Realty Income is expanding into data centers, where REIT tax treatment also applies, and concludes that O should be viewed mainly as an income holding, since its share price is often affected by interest rates.
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