My Top Dividend Stock to Buy in October Yields 6% and Cuts Shareholders a Monthly Check
Realty Income has an impeccable track record of raising its monthly dividend even when interest rates are high.
Overview
10-year Treasury rates are at 5.28% at the time of this writing -- the highest level since 2002. In September, the Federal Reserve increased rates for the first time since 2023. And investors are concerned that further interest rate hikes could be on the horizon to curb inflation.
Meanwhile, Realty Income (NYSE: O) is down 11.6% over the last month, pushing its dividend yield to 6% -- its highest level in nearly three years. Here's what's driving the sell-off in Realty Income and other real estate investment trusts (REITs) and why Realty Income stands out as a top dividend stock to buy now.
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Originally published at www.fool.com.