<p><strong>房地产收入</strong>(O 1.60%) 在房地产投资信托（REIT）行业中拥有最可靠的分红记录之一。自 1994 年上市以来，它已经增加了 131 次月度分红，包括过去连续 111 个季度。这超过了三十年的年度分红增长。</p>
<p>目前股价约低于 52 周高点 9%，分红收益率约为 5.5%。这是一个吸引人的入场点。随着未来更多的分红增长，房地产收入是一只值得购买和持有的优秀房地产股票，能够带来潜在的终身分红收入。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxODAvYS1oYW5kLXB1dHRpbmctYW5vdGhlci1jb2luLW9uLWEtcmlzaW5nLXN0YWNrLW5leHQtdG8tYS1yaXNpbmctbW9uZXktY2hhcnQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxODAvYS1oYW5kLXB1dHRpbmctYW5vdGhlci1jb2luLW9uLWEtcmlzaW5nLXN0YWNrLW5leHQtdG8tYS1yaXNpbmctbW9uZXktY2hhcnQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>尽管表现稳健仍下跌</h2>
<p>房地产收入今年表现良好。该 REIT 在 2025 年上半年每股调整后运营资金（FFO）为 2.11 美元。这得益于其传统投资组合的稳健表现。同店租金增长平均为 1.2%（高于其约 1% 的指导），而入住率平均为 98.6%（与其超过 98% 的预测一致）。该 REIT 还获得了 25 亿美元的新投资，使其在今年投资 40 亿美元的初始步伐上领先。</p>
<p>这种稳健的表现使房地产收入能够继续增加其分红。今年它已经提高了四次分红，过去 12 个月总共增长了 3.7%。</p>
<p>公司年初的强劲开局使其有信心提高全年展望。房地产收入现在预计其投资总额将达到约 50 亿美元。这推动其预计今年每股调整后 FFO 将在 4.24 美元至 4.28 美元之间，略高于其最初的 4.22 美元至 4.28 美元的预测。</p>
<p>房地产收入的股价从高峰下跌 9%，目前交易价格低于每股 59 美元。这使得该 REIT 的估值不到其调整后 FFO 的 14 倍。与其他在 <strong>标准普尔 500</strong> 中交易的 REIT 相比，这一水平具有吸引力，后者的平均交易倍数为 18 倍 FFO。</p>
<h2>巨大的增长空间</h2>
<p>房地产收入通过稳步收购额外物业，已成长为全球第六大 REIT。它目前在九个国家拥有超过 15,600 处物业，价值约 610 亿美元。其投资组合包括零售（占其年度基础租金的 79.9%）、工业（14.6%）、博彩（3.1%）和其他物业（2.4%）。</p>
<p>该 REIT 通过扩展到新的投资领域增强了其持续增长的能力。例如，它已进入英国和几个欧洲国家，开启了 8.5 万亿美元的投资机会。这一举措确实取得了丰厚回报。欧洲在第二季度占公司投资总额的 76%，因为它在该地区发现了大量高回报的投资机会。</p>
<p>房地产收入还在美国扩展到新的投资领域，包括赌场物业和数据中心。这些举措将其可寻址市场机会扩大了约 9000 亿美元。再加上其核心的美国零售和工业平台，房地产收入看到的综合投资机会高达惊人的 14 万亿美元。</p>
<p>该公司在 REIT 行业中拥有最好的资产负债表之一，给予其充足的财务灵活性以继续进行收购。房地产收入最近还在美国推出了一只私募资本基金，进一步增强了其获取收购资本的能力。通过该基金进行的投资将获得管理费收入，进一步提升其投资回报。</p>
<p>随着未来仍有如此多的增长机会，房地产收入应该能够在未来几十年继续扩展其投资组合和分红。</p>
<h2>永恒的收入股票</h2>
<p>房地产收入在过去几十年中一直是一只出色的分红股票。它处于一个强劲的位置，能够在未来继续增长其分红。随着股价下跌，现在是购买这只顶级房地产分红股票并持有以获得潜在的终身分红收入的绝佳时机。</p>

<p>Realty Income 是一家领先的房地产投资信托（REIT），拥有强劲的分红历史，自 1994 年以来已增加 131 次每月分红。目前，其股价较峰值下跌 9%，提供 5.5% 的收益率。该 REIT 的稳健表现包括每股调整后的基金运营收入（FFO）为 2.11 美元，并提高了全年投资展望至 50 亿美元。Realty Income 的多元化投资组合覆盖全球超过 15,600 处物业，在欧洲和新的美国垂直市场具有显著的增长机会。凭借强大的资产负债表，它仍然是长期分红收入的首选</p>

<p><strong>Realty Income</strong>(O 1.60%) has one of the most reliable records of paying dividends in the real estate investment trust (REIT) sector. It has increased its monthly dividend 131 times since its public market listing in 1994, including the past 111 quarters in a row. That's more than three decades of annual dividend increases.</p>
<div class="lb-trans"><p><strong>房地产收入</strong>(O 1.60%) 在房地产投资信托（REIT）行业中拥有最可靠的分红记录之一。自 1994 年上市以来，它已经增加了 131 次月度分红，包括过去连续 111 个季度。这超过了三十年的年度分红增长。</p>
</div><p>With shares currently about 9% below their 52-week high, the dividend yield sits around 5.5%. That's an appealing entry point. With more dividend growth ahead, Realty Income is a great real estate stock to buy and hold for a potential lifetime of dividend income.</p>
<div class="lb-trans"><p>目前股价约低于 52 周高点 9%，分红收益率约为 5.5%。这是一个吸引人的入场点。随着未来更多的分红增长，房地产收入是一只值得购买和持有的优秀房地产股票，能够带来潜在的终身分红收入。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxODAvYS1oYW5kLXB1dHRpbmctYW5vdGhlci1jb2luLW9uLWEtcmlzaW5nLXN0YWNrLW5leHQtdG8tYS1yaXNpbmctbW9uZXktY2hhcnQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832180%2Fa-hand-putting-another-coin-on-a-rising-stack-next-to-a-rising-money-chart.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Down despite its solid performance</h2>
<div class="lb-trans"><h2>尽管表现稳健仍下跌</h2>
</div><p>Realty Income is having a good year. The REIT generated $2.11 per share of adjusted funds from operations (FFO) during the first half of 2025. That's due to the solid performance of its legacy portfolio. Same-store rent growth has averaged 1.2% (above its guidance of around 1%), while occupancy has averaged 98.6% (in line with its forecast of over 98%). The REIT has also secured $2.5 billion of new investments, putting it ahead of its initial pace to invest $4 billion this year.</p>
<div class="lb-trans"><p>房地产收入今年表现良好。该 REIT 在 2025 年上半年每股调整后运营资金（FFO）为 2.11 美元。这得益于其传统投资组合的稳健表现。同店租金增长平均为 1.2%（高于其约 1% 的指导），而入住率平均为 98.6%（与其超过 98% 的预测一致）。该 REIT 还获得了 25 亿美元的新投资，使其在今年投资 40 亿美元的初始步伐上领先。</p>
</div><p>This solid performance has enabled Realty Income to continue increasing its dividend. It has raised its payment four times already this year and by a total of 3.7% over the past 12 months.</p>
<div class="lb-trans"><p>这种稳健的表现使房地产收入能够继续增加其分红。今年它已经提高了四次分红，过去 12 个月总共增长了 3.7%。</p>
</div><p>The company's strong start to the year gave it the confidence to increase its full-year outlook. Realty Income now expects its investment volume to be around $5 billion. That drives its view that it will produce between $4.24 and $4.28 per share of adjusted FFO this year, up slightly from its initial $4.22- to $4.28-per-share forecast.</p>
<div class="lb-trans"><p>公司年初的强劲开局使其有信心提高全年展望。房地产收入现在预计其投资总额将达到约 50 亿美元。这推动其预计今年每股调整后 FFO 将在 4.24 美元至 4.28 美元之间，略高于其最初的 4.22 美元至 4.28 美元的预测。</p>
</div><p>The 9% decline in Realty Income's stock price from the peak has it trading below $59 per share. That puts the REIT's valuation at less than 14 times its adjusted FFO. That's an attractive level compared to other REITs in the <strong>S&amp;P 500</strong>, which trade at an average of 18 times FFO.</p>
<div class="lb-trans"><p>房地产收入的股价从高峰下跌 9%，目前交易价格低于每股 59 美元。这使得该 REIT 的估值不到其调整后 FFO 的 14 倍。与其他在 <strong>标准普尔 500</strong> 中交易的 REIT 相比，这一水平具有吸引力，后者的平均交易倍数为 18 倍 FFO。</p>
</div><h2>A massive growth runway</h2>
<div class="lb-trans"><h2>巨大的增长空间</h2>
</div><p>Realty Income has grown into the sixth-largest global REIT by steadily acquiring additional properties. It currently owns over 15,600 properties in nine countries worth about $61 billion. Its portfolio includes retail (79.9% of its annual base rent), industrial (14.6%), gaming (3.1%), and other properties (2.4%).</p>
<div class="lb-trans"><p>房地产收入通过稳步收购额外物业，已成长为全球第六大 REIT。它目前在九个国家拥有超过 15,600 处物业，价值约 610 亿美元。其投资组合包括零售（占其年度基础租金的 79.9%）、工业（14.6%）、博彩（3.1%）和其他物业（2.4%）。</p>
</div><p>The REIT has enhanced its ability to continue growing over the years by expanding into new investment verticals. For example, it has entered the U.K. and several European countries, opening the doors to an $8.5 trillion investment opportunity. That move has really paid off. Europe accounted for 76% of the company's investment volume in the second quarter as it found an abundance of higher-returning investment opportunities in that region.</p>
<div class="lb-trans"><p>该 REIT 通过扩展到新的投资领域增强了其持续增长的能力。例如，它已进入英国和几个欧洲国家，开启了 8.5 万亿美元的投资机会。这一举措确实取得了丰厚回报。欧洲在第二季度占公司投资总额的 76%，因为它在该地区发现了大量高回报的投资机会。</p>
</div><p>Realty Income has also expanded into new investment verticals in the U.S., including casino properties and data centers. Those moves expanded its total addressable market opportunity by an estimated $900 billion. Add in its core U.S. retail and industrial platforms, and Realty Income sees a combined investment opportunity worth a staggering $14 trillion.</p>
<div class="lb-trans"><p>房地产收入还在美国扩展到新的投资领域，包括赌场物业和数据中心。这些举措将其可寻址市场机会扩大了约 9000 亿美元。再加上其核心的美国零售和工业平台，房地产收入看到的综合投资机会高达惊人的 14 万亿美元。</p>
</div><p>The company has one of the best balance sheets in the REIT sector, giving it ample financial flexibility to continue making acquisitions. Realty Income has also recently launched a private capital fund in the U.S., further enhancing its access to acquisition capital. Investments made through the fund will earn management fee income, further enhancing its investment returns.</p>
<div class="lb-trans"><p>该公司在 REIT 行业中拥有最好的资产负债表之一，给予其充足的财务灵活性以继续进行收购。房地产收入最近还在美国推出了一只私募资本基金，进一步增强了其获取收购资本的能力。通过该基金进行的投资将获得管理费收入，进一步提升其投资回报。</p>
</div><p>With so much growth still ahead, Realty Income should be able to continue expanding its portfolio and dividend in the coming decades.</p>
<div class="lb-trans"><p>随着未来仍有如此多的增长机会，房地产收入应该能够在未来几十年继续扩展其投资组合和分红。</p>
</div><h2>A forever income stock</h2>
<div class="lb-trans"><h2>永恒的收入股票</h2>
</div><p>Realty Income has been a magnificent dividend stock over the decades. It's in a strong position to continue growing its dividend in the future. With its share price down, now's a great time to buy this top-tier real estate dividend stock and hold it for a potential lifetime of dividend income.</p>
<div class="lb-trans"><p>房地产收入在过去几十年中一直是一只出色的分红股票。它处于一个强劲的位置，能够在未来继续增长其分红。随着股价下跌，现在是购买这只顶级房地产分红股票并持有以获得潜在的终身分红收入的绝佳时机。</p>
</div>

一只表现卓越的房地产股息股票下跌 9%，值得长期买入并持有