Want $1,000 in Passive Income? Buy 337 Shares in This Dividend Stock
Shifting from building a nest egg to building your passive income is something you are probably thinking about if you are near or already in retirement. It's a great strategy for making ends meet as you look to supplement your Social Security checks. One name that you might want to consider adding to your portfolio is Realty Income (NYSE: O).
When it comes to money, it's just easier to work with round numbers like $1,000. This way, you can simply scale up (or, less likely, down) to hit the dollar figure you have in mind. On June 14, Realty Income increased its annual dividend to $2.97 per share. So, to create $1,000 in annual passive income you would need roughly 337 shares at a cost of about $21,700 of this industry-leading real estate investment trust (REIT).
You can easily get to $1,000 in dividend income with plenty of other stocks, but there are a couple of things that set Realty Income apart from the pack. For starters, most companies with dividends pay quarterly, while Realty Income pays monthly. In fact, it has trademarked the name "The Monthly Dividend Company."
Source Fool.com
