Realty Income (NYSE: O) built its business around paying a dependable and steadily rising dividend. The real estate investment trust (REIT) has paid 641 consecutive monthly dividends throughout its history. It has increased its payout a phenomenal 122 times since its public market listing in 1994.

That dividend (which currently yields 6.2%) should continue its steady rise. The REIT's ability to expand into new property verticals with long growth runways is a big factor driving that view. It recently made its first investment in the data center sector, representing a massive $1 trillion investment opportunity over the next decade.

Realty Income is forming a development joint venture (JV) with data center REIT Digital Realty (NYSE: DLR). The JV will support the development of two build-to-suit data centers in Northern Virginia that are already 100% pre-leased to a large-scale corporate tenant under a 10-year term. Realty Income will invest $200 million to acquire an 80% interest in the JV, while Digital Realty will retain the other 20%.

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Source Fool.com