Recent Buy – Realty Income Corp (O)
Well that was quick. I usually don’t make back to back buys like this. Last week I announced my recent buy of ABBV. I have just made my second purchase of the month and year adding 13 shares of Reality Income Inc (O) to double my current position. Here are some of O stats.
Annual Dividend: $2.63
Years Paying/ Increasing: 22 years
Dividend increase from prior year: 3.04%
Payout Ratio: 90.9%
P/E Ratio: 43.47
I have had O in my portfolio for at least 6 months now although my position is rather small. I knew I wanted to increase it but needed to wait for an opportune moment. Now seemed like the perfect time. Seems like all REITs are being hit hard right now. Rising interest rates probably have a little bit to do with that. Makes for a good buying opportunity. Especially for quality companies with great dividend track records like this.
This recent buy will lower my overall cost basis as well as double my position there by doubling my dividend income received. Since it pays out dividends monthly, the compounding will happen even faster. Secondly, this purchase comes at the perfect time since O just announced another dividend increase. Not much but every little bit helps right? I know a lot of other members of the community took advantage of this opportunity as well recently.
As shown above, O has a dividend yield of 4.97% or $2.63 annually. This will add another $34.19 to my yearly dividend income. Broken down quarterly, it will add $2.85 per month. Glad to have this quality monthly dividend payer’s position doubled in my portfolio.
What do you think of this buy? Do you like O or do you currently own any? What other companies are on your watch list right now? Comments are always welcome below.