Dividend Champions List: Top 15

8. Realty Income Corporation (NYSE:O)

Dividend Yield as of September 24: 5.05%

Realty Income Corporation (NYSE:O) has always grabbed the attention of income investors because the company pays monthly dividends to shareholders. The real estate investment trust company mainly invests in commercial properties across the US. The company’s portfolio covers 90 different industries and includes over 1,500 clients. In addition to its US properties, it owns several locations in Europe. Key clients include Dollar Tree, Walgreens, and Dollar General. This level of diversification helps minimize overall risk by avoiding heavy exposure to specific industries, while also contributing to long-term stability. The stock has surged by nearly 7% since the start of 2024.

Realty Income Corporation (NYSE:O) has a strong balance sheet, largely supported by its portfolio. In the second quarter of 2024, the company reported a high occupancy rate of 98.8%, collected 105.7% of rent from re-leased properties, and saw a 0.2% rise in same-store rental revenue. Quarterly revenue reached $1.28 billion, reflecting a 29% year-over-year growth.

By the end of the quarter, Realty Income Corporation (NYSE:O) had about $443 million in cash and cash equivalents. On September 10, the company announced a 0.2% increase in its monthly dividend to $0.2635 per share, marking its 127th dividend hike since going public in 1994. Overall, the company has raised its payouts for 30 consecutive years, which makes O one of the best stocks on our dividend champions list. The stock supports a dividend yield of 5.05%, as of September 24.

Realty Income Corporation (NYSE:O) was a part of 19 hedge fund portfolios at the end of Q2 2024, compared with 25 in the previous quarter, according to Insider Monkey’s database of Q2 2024. The consolidated value of these stakes is over $135.3 million.