Dividend Aristocrats: Top 7 Companies by Yield for November 2024

1. Realty Income Corporation (NYSE:O)

Dividend Yield as of November 26: 5.50%

Realty Income Corporation (NYSE:O) is an American real estate investment trust company that is popular among investors because of its monthly payouts. While the US market remains the largest within its portfolio, the company also invests in eight countries and continues to expand its presence, particularly within the European market. The stock has surged by over 6% in the past 12 months.

In the third quarter of 2024, Realty Income Corporation (NYSE:O) reported revenue of $1.27 billion, which showed a 27% hike from the same period last year. The revenue beat analysts’ estimates by over $10 million. The company has raised its 2024 investment volume guidance to about $3.5 billion and increased the lower end of its AFFO per share guidance to a range of $4.17 to $4.21 per share, indicating a 4.8% growth at the midpoint. Looking forward, it is exploring a variety of growth opportunities, including capital diversification efforts, to further expand the reach and scale of its established platform. Parnassus Investments highlighted Realty Income Corporation (NYSE:O) in its Q3 2024 investor letter. Here is what the firm has to say:

“Realty Income Corporation (NYSE:O) is poised to benefit from lower interest rates. Because its commercial tenants are mostly on 10-year leases, the stock’s steady dividend stream is attractive in the current environment of slow deceleration in the economy with rates coming down. In this favorable backdrop, the company also continues to execute well.”

Realty Income Corporation (NYSE:O) offers a monthly dividend of $0.2635 per share. The company has raised its dividends every year since it went public in 1994. The stock supports a dividend yield of 5.50%, as of November 26.

Realty Income Corporation (NYSE:O) remained popular among elite money managers in Q3 2024, with hedge fund positions in the company growing to 23, from 19 in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds have a collective value of $163.5 million.

Overall, Realty Income Corporation (NYSE:O) ranks first on our list of the best dividend aristocrat stocks. While we acknowledge the potential for O to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than O but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. 

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