5 Dividend Stocks to Buy According to Matthew Barrett’s Glendon Capital Management

3. Realty Income Corporation (NYSE:O)

Number of Hedge Fund Holders: 30
Dividend Yield as of March 1: 4.49%
Glendon Capital’s Stake Value: $132,934,000

Realty Income Corporation (NYSE:O), an American real estate investment trust, is a recent acquisition of Glendon Capital in Q4. The hedge fund started building its position in the company with shares worth roughly $133 million. The company accounted for 6.99% of Matthew Barrett’s portfolio.

Since Realty Income Corporation (NYSE:O) went public in 1994, the company has grown its monthly dividend at a CAGR of 4.4%. In 2021, the company grew its monthly dividend by 4% at $0.2465 per share. The stock’s dividend yield, as of March 1, stood at 4.49%. As the real estate sector outperformed S&P 500 in 2021, Mizuho in January set a $76 price target on Realty Income Corporation (NYSE:O), while maintaining a Buy rating on the shares.

In Q4 2021, the number of hedge funds tracked by Insider Monkey having stakes in Realty Income Corporation (NYSE:O) grew to 30, from 22 in the previous quarter. These stakes are valued at roughly $399 million.