1 Magnificent S&P 500 Dividend Stock Down 31% to Buy and Hold Forever

Company Overview - Realty Income Corporation is a real estate investment trust (REIT) that specializes in retail real estate, owning over 15,400 properties and 337 million square feet of retail space [3][4] - The company is known for its unique monthly dividend payments, differing from the typical quarterly dividends paid by most companies [5] Market Position and Performance - Realty Income's shares have declined by 31% from their peak in late 2019, attributed to broader economic challenges rather than company-specific issues [1][11] - Despite the retail apocalypse, strong tenants like Walmart and Dollar General are expanding, indicating resilience in the retail sector [8][9] Tenant Strength and Occupancy - As of Q3 2024, 98.2% of Realty Income's properties were leased, showcasing strong occupancy rates even during the COVID-19 pandemic [10] - The company has maintained a consistent dividend payment since 1970, increasing its annual payout for 30 consecutive years [10] Economic Context - The economic backdrop, including rising inflation and interest rates, has negatively impacted Realty Income's stock performance since 2019 [12] - Recent signs of economic stabilization, such as potential interest rate cuts and steady corporate bond yields, may provide relief for the company [13][14] Investment Consideration - Realty Income currently offers an above-average yield of 5.8%, making it an attractive option for income-seeking investors [15] - The company's strong fundamentals and improving economic conditions suggest that interest in its stock may increase, potentially driving up its price [15]