5 Dividend Stocks for Passive Income

2. Realty Income Corporation (NYSE:O)

Dividend Yield as of July 28: 4.13%

Realty Income Corporation (NYSE:O) is a California-based real estate investment trust company. It is one of the best dividend stocks for passive income as it offers monthly dividends to shareholders. On July 12, the company declared a monthly dividend of $0.2475 per share, in line with its previous dividend. The stock’s dividend yield was recorded at 4.13%, as of the close of July 28.

Realty Income Corporation (NYSE:O) has been a consistent dividend-payer, offering dividends to shareholders for the past 53 years and has raised its dividend every year since 1994. In the first quarter of 2022, the company paid $438.3 million in dividends, which represented 75.6% of its AFFO.

In June, Credit Suisse initiated its coverage of Realty Income Corporation (NYSE:O) with an Outperform rating and a $75 price target and named the stock one of its Top Picks.

At the end of Q1 2022, 22 hedge funds in Insider Monkey’s database owned stakes in Realty Income Corporation (NYSE:O), down from 30 a quarter earlier. The combined value of these stakes is $284.8 million.