Realty Income (NYSE: O) is an unstoppable dividend stock.
The real estate investment trust (REIT) has increased its monthly dividend 134 times since its 1994 listing on the New York Stock Exchange
It has raised its payout for 114 straight quarters and 31 consecutive years. The REIT recently reported its first-quarter results, which showed that it’s continuing to deliver growth for investors. Here’s a look at whether the monthly dividend juggernaut is still a buy at the current price.
A strong start to the year Realty Income generated $1.13 per share of adjusted funds from operations (AFFO) during the first quarter, up 6.6% year over year. That supported its ability to continue increasing the dividend. Realty Income has raised its payment by 1.8% over the past year, while lowering its payout ratio to an even more conservative 71.7%.