5 Best REIT Stocks to Buy Right Now

3. Realty Income Corporation (NYSE:O)

Dividend Yield as of October 24: 5.16%

Realty Income Corporation (NYSE:O) is one of the best dividend stocks on our list because of the company’s monthly dividend policy. The company has been raising its dividends for the past 28 years. Currently, it pays a monthly dividend of $0.248 per share for a dividend yield of 5.16%, as of October 24.

In Q2 2022, Realty Income Corporation (NYSE:O) paid $445 million in dividends to shareholders, which were smoothly covered with its free cash flow of $743 million. These dividends accounted for 76.5% of the company’s AFFO.

Raymond James maintained its Outperform rating on Realty Income Corporation (NYSE:O) in October with a $68 price target, as the firm observes the company as a strong risk/reward play within the net lease amid the uncertain market situation.

As of the close of Q2 2022, 19 hedge funds tracked by Insider Monkey owned stakes in Realty Income Corporation (NYSE:O), down from 22 in the previous quarter. These stakes are collectively valued at over $200.7 million. Citadel Investment Group was the company’s leading stakeholder in Q2.