12 Highest Dividend Stocks to Buy on Cash App

3. Realty Income Corporation (NYSE:O)

Dividend Yield as of January 21: 5.73%

Realty Income Corporation (NYSE:O) is an American real estate investment trust company that invests in single-tenant commercial properties in the country. The company mainly specializes in purchasing commercial properties, leasing them, and sharing the rental income with its investors. By the end of Q3 2024, the company owned 15,457 properties across all 50 US states, the UK, and six European countries, up from 13,458 properties at the end of 2023. This growth was largely driven by its acquisition of Spirit Realty in January 2024. The company primarily leases its properties to retailers that are resistant to economic downturns. The stock has surged by over 5% since the start of 2025.

Over the last 30 years, Realty Income Corporation (NYSE:O) has successfully weathered major events like the dot-com crash, the Great Recession, and the COVID-19 pandemic, all while consistently increasing its dividend. Even during the peak of the Great Recession, the company’s occupancy rates never dropped below 96.6%, and they are currently around 98.7%. This track record highlights the company’s stability and resilience in challenging economic conditions. A key factor in this stability is Realty Income Corporation (NYSE:O)’s strong financial position, backed by an investment-grade balance sheet. Its large size enables the company to access capital markets more easily, securing favorable debt terms to support its growth.

Realty Income Corporation (NYSE:O) is one of the best Cash App stocks that pay dividends because the company offers monthly dividends to shareholders. On January 14, the company declared a monthly dividend of $0.264 per share, which was in line with its previous dividend. Overall, it has raised its payouts multiple times since its IPO in 1994. As of January 21, the stock has a dividend yield of 5.73%.

The number of hedge funds tracked by Insider Monkey owning stakes in Realty Income Corporation (NYSE:O) grew to 23 in Q3 2024, from 19 in the previous quarter. These stakes are worth over $163.5 million in total. Among these hedge funds, AEW Capital Management was the company’s leading stakeholder in Q3.