Dividends contain a lot of information, but often you have to dig in a little to understand what's being shared. That's an important backdrop to remember when you look at Spirit Realty (NYSE: SRC), which has a nearly 6% dividend yield, nearly two full percentage points higher than peer, and net lease bellwether, Realty Income (NYSE: O). Here's a quick look at Spirit and why you may, and may not, want to invest in it right now.

Spirit, like Realty Income, is a net lease real estate investment trust (REIT). That means it owns single-tenant properties where the tenants are responsible for most of the operating costs of the assets they occupy. Across a large enough portfolio, it is a pretty low-risk and reliable business model. Spirit owns around 2,000 properties, affording it plenty of diversification.

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Source Fool.com