MAA - Bull Market Buys: 3 Dividend Stocks to Own for the Long Run
2023-12-26 06:34:00 ET
Stocks have been on a roll this year. The S&P 500 has rallied 24%, putting it right around its all-time high. Those two factors have stocks on the cusp of entering a new bull market.
Bull markets tend to enjoy long runways, suggesting there's more room to run. That's especially true for stocks that have yet to ride the wave of the current market rally, which includes several high-quality dividend stocks . Realty Income (NYSE: O) , Mid-America Apartment Communities (NYSE: MAA) , and Crown Castle (NYSE: CCI) have lost ground over the past year because of the impact of higher interest rates on the real estate sector. That headwind should fade over the coming year, setting these real estate investment trusts ( REITs ) up to potentially go on their own bull run in 2024 and beyond.
Shares of Realty Income have slumped about 10% in 2023. That has pushed the REIT's dividend yield up to 5.4%. Higher interest rates have been the main factor weighing on the company's share price. It has caused concerns that Realty Income might struggle to grow as its cost of capital rises.
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Bull Market Buys: 3 Dividend Stocks to Own for the Long Run