Realty Income's Data Center Bet Could Turbocharge Dividend Growth Over the Next Decade
The real estate investment trust best known for specializing in brick-and-mortar retailing is getting into an unlikely -- but brilliant -- business.
Overview
Realty Income's (NYSE: O) developed a stellar reputation as a brick-and-mortar retailer REIT, defying the headwinds that are supposed to be destroying the retail industry. In fact, this landlord has raised its annual per-share dividend for nearly 29 consecutive years. And by no small amount either. Since listing itself on the NYSE in 1994, it's upped its dividend by an average of 4.1% per year.
Shareholders may see this growth pace perk up for the foreseeable future as this retail-focused real estate investment trust eases its way into the data center business. Here's what you need to know.
Details
It's true! The landlord to some of the retail industry's most resilient names, like Dollar General, Walmart, and Home Depot, is getting into the data center industry.
Source
Originally published at www.fool.com.