Realty Income Corporation could be a great option for retirees as it provides monthly payouts. On December 10, the company hiked its monthly payout by 0.2% to $0.264 per share. This was the company’s fifth dividend increase this year.
Overall, it has raised its payouts multiple times since its IPO in 1994. With an attractive dividend yield of 5.81%, as of December 17, O is one of the best stocks for a retirement portfolio. In the third quarter of 2024, Realty Income Corporation reported revenue of $1.27 billion, a 27% increase from the same period last year.
Realty Income’s dividend consistency
The revenue exceeded analysts’ expectations by over $10 million. The company has revised its 2024 investment volume forecast to around $3.5 billion and raised the lower end of its AFFO per share guidance to a range of $4.17 to $4.21, indicating a 4.8% growth at the midpoint.
Looking forward, the company is pursuing various growth opportunities, including capital diversification, to further expand its platform’s reach and scale. At the end of Q3 2024, 23 hedge funds tracked by Insider Monkey held stakes in Realty Income Corporation, up from 19 in the previous quarter. The consolidated value of these stakes is over $163.5 million.
While Realty Income Corporation remains a strong candidate for dividend investors, the allure of high-growth sectors, such as AI, presents alternative opportunities for potentially greater returns.
