This Magnificent Dividend Stock Is Accelerating Its Growth by Adding $1 Billion to Its Acquisition Target
Realty Income (NYSE: O) is a terrific dividend stock. The real estate investment trust (REIT) has increased its dividend for 107 consecutive quarters. Its monthly payout currently yields nearly 6%, which is several times above the S 500's 1.3% dividend yield.
The REIT's magnificent dividend should continue its steady rise. One factor driving that view is its growing optimism for securing new investments this year. The REIT recently added $1 billion to its acquisition target, giving it the confidence to boost the low end of its growth rate.
Realty Income initially expected to make about $2 billion in property investments this year. That's much lower than its investment volume in recent years (around $9 billion annually).
Source Fool.com
