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VCLT - Realty Income - A Great But Overpriced Company
Vanguard Long-Term Corporate Bond ETF
Realty Income Corporation (NYSE: O) brands itself as the monthly dividend company, and has done a great job of that. The company has a $29 billion enterprise value and $1.3 billion in annual revenue, which derives from 22 of 23 years of earning growth, and high occupancy great. The company has grown its dividend at 8% annually, and currently yields just under 4%, showing its commitment to shareholders.
However, the company is also expensive. Its dividend yield of just under 4% isn't anything special, the Vanguard Corporate Bond ETF (NASDAQ: VCLT) yields 0.3%