This Amazing Dividend Stock Has a $1.6 Trillion Opportunity Ripe for the Taking
Realty Income (NYSE: O) has done an amazing job growing its dividend over the years. The REIT has increased its payout 121 times since its public market listing in 1994, including for the past 103 straight quarters. It has raised its dividend by 3.2% overall over the past year.
A big driver of the company's growing dividend is its ever-expanding portfolio of income-producing real estate. Realty income acquired $3.1 billion of properties in the second quarter alone. It sees a massive growth runway ahead, estimating that there is a $1.6 trillion opportunity to acquire real estate from large corporations in its target markets. These factors put the REIT in an excellent position to continue increasing its 5.4%-yielding dividend.
Realty Income initially expected to acquire over $5 billion of Income-producing real estate this year. However, now it anticipates its 2023 investment volume will be over $7 billion.
Source Fool.com
