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Realty Income REIT remains an income-producing behemoth after strong Q2

Realty Income REIT remains an income-producing behemoth after strong Q2
Dino Kurbegovic

In the world of real estate investment trusts (REITs), some trusts hold the title of being income-producing behemoths, making them ideal choices for dividend investors since they pay out monthly dividends like clockwork. 

One such stock is Realty Income (NYSE: O), which delivered better-than-expected Q2 earnings on August 3, increasing its guidance and showing revenue growth spurred on by increased occupancy rate and same-store rental revenue growth, possibly ensuring further dividend growth.  

Staying true to its mantra of being the “Monthly dividend company,” the firm announced its 626th consecutive common stock monthly dividend on August 16. The dividend amount is $0.2475 per share or $2.97 annually, a yield of 4.35%.

O chart and analysis 

Realty Income is part of the REITs industry, which has 222 other stocks in this industry, while O outperforms 81% of them. The short-term trend is negative as the shares sold off a bit over the past few trading session. In the last month, O has been trading in a wide range from $67.53 to $75.11, staying below all moving averages.

Further, technical analysis shows a support zone from $64.67 to $65.85 and a resistance zone between $70.26 and $72.74.

O 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

TipRanks analysts rate the shares a moderate buy, seeing the average price in the next 12 months reaching $76.09, 11.16% higher than the current trading price of $68.45.

Wall Street analysts’ price targets for O. Source: TipRanks  

With a portfolio that boasts 11,400 properties and 1,125 tenants from 72 different industries, Realty Income’s business should hold up well even in a recession. Furthermore, the firm has an almost unbeatable record of 27 years of consecutive annual dividend growth and total returns that have beaten the S&P 500 for decades. 

Perhaps a pullback in the general market could be in the cards, and if so, potential investors will have a chance to jump into this income-producing stock. 

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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