For retirees, Realty Income Corporation could be an excellent choice due to its monthly distributions. On December 10, the firm raised its monthly distribution by 0.2% to $0.264 for each share. This marks the fifth increase in dividends this year for the corporation.
Since its initial public offering in 1994, it has consistently elevated its payouts multiple times. With a commendable dividend yield of 5.81% as of December 17, Realty Income (symbol O) stands out as one of the top stocks to consider for a retirement investment portfolio. In the third quarter of 2024, the company reported $1.27 billion in revenue, reflecting a 27% rise compared to the same quarter last year.
Realty Income’s dividend reliability
The revenue surpassed the estimates set by analysts by more than $10 million. The corporation has adjusted its forecast for investment volume in 2024 to approximately $3.5 billion and has elevated the lower end of its guidance for AFFO per share to a range between $4.17 and $4.21, indicating a midpoint growth rate of 4.8%.
Looking ahead, the corporation is exploring various avenues for growth, including diversification of capital, to broaden the scope and scale of its platform. As of the end of Q3 2024, 23 hedge funds monitored by Insider Monkey held shares in Realty Income Corporation, an increase from 19 in the prior quarter. The total value of these holdings exceeds $163.5 million.
While Realty Income Corporation remains a robust option for dividend enthusiasts, the captivating potential of high-growth sectors, particularly AI, offers alternative avenues for potentially higher returns.
