My primary financial objective this year is to boost my passive income. I want to achieve a greater level of financial independence. For me, this means having enough passive income to take care of my essential living expenses.
Real estate income has caught my attention (New York Stock Exchange: O) because it’s a significant source of income. That’s why I’m planning to invest heavily in real estate investment trusts (REITs) this year.
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Part of Realty Income’s mission is to invest in “trustworthy real estate.” They’ve certainly lived up to that promise over the years. Since being founded over fifty years ago, the company has consistently paid dividends every month—667 times in total. Furthermore, they’ve increased these payments 133 times since their public launch in 1994, maintaining this streak for the last 113 quarters, with an average annual increase of 4.2%.
The current dividend yield for Realty Income stands at 5.1%, which far exceeds the 1.2% yield of the S&P 500. This impressive yield is backed by a robust foundation. Realty Income’s diversified portfolio creates stable rental income supported by long-term net leases, which require tenants to cover all operating expenses. Additionally, the company’s financial profile is solid, featuring one of the top ten balance sheets in the sector, allowing for continued growth in income-producing properties.
I believe Realty Income is likely to maintain its high-yield dividend for many years, which is why I plan to acquire more of its stock over the next few years.
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