How about Realty income corporation as a stable high paying dividend stock?

Realty Income Corporation (O) appears to be a stable high paying dividend stock based on the following points: 1. **High Dividend Yield**: The 12-month trailing dividend yield for O is 5.11% as of August 21, 2024. This is considered high and attractive for income-focused investors. 2. **Stable Dividend Payout Ratio**: The dividend payout ratio for O is 42.81% as of June 30, 2024. This suggests that the company is retaining a significant portion of its earnings to support future growth and is not overly reliant on external capital to maintain its dividend payments. 3. **Consistent Free Cash Flow**: O has demonstrated a range of free cash flow figures over the past year, with amounts such as $1.82 billion, $2.46 billion, and $1.57 billion. The presence of positive free cash flow indicates the company's ability to generate sufficient cash to support its dividend payments and other operational needs. 4. **Moderate Debt Levels**: The debt-to-equity ratio for O is around 0.64, which is considered moderate. This suggests that the company is not overly leveraged, which can be a positive sign for stability and the ability to sustain dividends. 5. **Stable Occupancy and Rent Recapture**: The company has reported stable occupancy at 98.6% and a rent recapture rate of 104.3% on properties re-leased. This indicates a strong leasing market and the company's ability to maintain and grow its rental income, which is a key factor for dividend sustainability. 6. **Positive Ratings Outlook**: S&P Global Ratings has affirmed its ratings on Realty Income with a stable outlook, reflecting its expectation that the company will continue to expand its portfolio in a relatively leverage-neutral manner. This suggests that the company is well-positioned to manage its growth and maintain its financial stability. 7. **Long-Term Dividend Growth**: Realty Income has a history of increasing its monthly dividends since its listing on the NYSE in 1994, with 124 consecutive monthly dividend increases. This track record of consistent dividend growth is a positive sign for investors looking for stable income with potential for future increases. In conclusion, Realty Income Corporation (O) appears to be a stable high paying dividend stock, offering a combination of high yield, sustainable payout ratio, and a strong track record of dividend growth. However, it's important to consider your investment horizon and risk tolerance before making any investment decisions, as the performance of dividend stocks can be influenced by market conditions and broader economic factors.