With all of the chaos, madness and fear mongering in our media regarding retail closings. I can still find good deals out there to invest and purchase a peace of a beautiful business that will pay me for a lifetime to come. I honestly believe that there are great opportunities out there at all times in the market, you just need to do your due diligence and look deep and hard enough to find them. Though, I think this one found me more than I found it as I discovered one of my most favorite REITs on sale recently.
Realty Income Corporation was founded in 1969 and is headquartered in San Diego, California. Essentially, the company is a Real Estate Investment Trust (REIT) that owns a wide portfolio of properties in diverse sectors of real estate mostly in retail. Additionally, the company is engaged in an in-house acquisitions, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. As of December 31, 2016, company owns a portfolio of 4,944 properties located in 49 states including Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries. Furthermore, out of the total properties in the portfolio, 4,920, or 99.5%, were single-tenant properties, and the remaining were multi-tenant properties. Plus, of the 4,920 single-tenant properties, 4,836 were leased with a weighted average remaining lease term of approximately 9.8 years. The first quarter of 2017 total real estate portfolio occupancy rate is at an astounding 98.3%.
- Dividend Yield: 4.7%
- 3Yr Dividend Growth Rate: 3.7%
- Payout Ratio: 84.1%
- P/E: 48.4
- Consecutive Years of Dividend Raises: 21
- Dividend Payout: Monthly
I purchased 40 shares of O for the price of $53.30 per share for a total investment of $2,132.00 adding around $101.28 to my annual dividend income.
It is the 5th time I am initiating a stock acquisition this year. This transaction is my additional purchase of O shares into the portfolio. As of today, I now hold a total of 88.72 shares of the company. Additionally, O ownership stake represents to be around 4.6% of my total portfolio value.
The 12-month dividend income increases to $3,361.
Portfolio “The Dividend Machine” has been updated with link > here.
Thank you for reading & have a great day!