Realty Income (NYSE:O) has raised its dividend for about 30 straight years.
The stock is up about 14% so far this year
But should you buy the stock just because of the monthly dividend? What’s the underlying business moat? The moat is straightforward: the company owns real estate in prime locations, and once it owns the land, competitors can’t just build next door.
That lets Realty Income keep raising rents as leases renew and inflation escalators kick in. A Portfolio Built For Stability Realty Income owns or holds interests over 15,000 properties across 1,786 clients in 92 industries, spanning the U.S., the U.K., and seven other European countries. Occupancy runs at 98.9%, and the weighted average lease term is 8.7 years.