This Monthly Dividend Stock Fell 15% in 2023. Here's Why 2024 Could Be Much Better.
Investors in Realty Income (NYSE: O) have had a tough year. The stock fell as much as 40% from its high and is still down 15% from where it traded 12 months ago. Falling share prices aren't fun, so when a beloved dividend stock plummets, it can cause people to question the company's future prospects.
I'm here to tell you that Realty Income is just fine and is an excellent investment idea for 2024 and beyond. More importantly, I'll explain what happened to the stock and why. Read this and feel confident buying this stellar real estate company.
Realty Income is a real estate investment trust (REIT). That's a special business structure for real estate companies. It's a way that investors can benefit from owning real estate without buying buildings. REITs pass on their profits (90% or more of taxable income) to shareholders by design. This has made Realty income a great dividend stock. Not only does it sport a nice 5.4% yield, but it pays investors monthly dividends.
Source Fool.com
