Looking for Safe Income? This Stock Raised Its Dividend in the Last 3 Recessions.
Realty Income (NYSE: O) fits the description of the slow-but-steady race-winning tortoise to a tee. The company has raised its dividend, paid monthly, for 29 consecutive years, which spans the COVID-19 crisis, the Great Recession, and the dot-com bust. Here's what makes this real estate investment trust (REIT) so special.
As a triple-net-lease REIT, Realty Income engages in sale-leaseback deals. The company buys commercial real estate from businesses, and those properties are subsequently leased back to those same sellers with lengthy lease terms and annual rent escalators.
This allows a business to tap into equity it has in its properties. That capital can then be used however the company sees fit, such as for debt repayment or expansion.
Source Fool.com
