<p>可以説，在華爾街投資的最大優勢之一就是沒有一種適合所有人的財富生成策略。由於有成千上萬的上市公司和交易所交易基金（ETF）可供選擇，必然會有一些證券能夠幫助你實現投資目標。</p>
<p>但在這些看似無窮無盡的投資策略中，購買並持有分紅股票對於耐心的投資者來説，成功的程度是顯而易見的。</p>
<p>支付定期分紅的公司往往有一些共同點。它們幾乎總是能夠持續盈利，經過時間的考驗，並且能夠提供透明的長期增長前景。換句話説，這些是我們期望在長期內增值的企業類型。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvcGVyc29uLWhvbGRpbmctY2FzaC1iaWxscy1tb25leS1odW5kcmVkLWRvbGxhci1maWZ0eS1kaXZpZGVuZC1pbmNvbWUtaW52ZXN0LXJldGlyZS1zcGVuZC1nZXR0eS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvcGVyc29uLWhvbGRpbmctY2FzaC1iaWxscy1tb25leS1odW5kcmVkLWRvbGxhci1maWZ0eS1kaXZpZGVuZC1pbmNvbWUtaW52ZXN0LXJldGlyZS1zcGVuZC1nZXR0eS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<p>或許更重要的是，分紅股票有着豐富的超額收益歷史。在《分紅的力量：過去、現在與未來》中，哈特福德基金的研究人員比較了分紅股票與非分紅股票在 50 年期間（1973-2023）的平均年回報率。哈特福德基金髮現，分紅股票的平均年回報率超過了非分紅股票的兩倍（9.17% 對比 4.27%），而且波動性低於基準 <strong>標準普爾 500</strong> 指數。</p>
<p>考慮到這是歷史上最昂貴的股市之一，購買經過時間考驗的分紅股票可能是 2025 年的一個聰明策略。</p>
<p>接下來是三隻最安全的超高收益分紅股票——“超高收益股票” 的收益率至少是標準普爾 500 收益率的四倍——在新的一年中值得購買，平均收益率為 8.53%!</p>
<h2>輝瑞：6.72% 收益率</h2>
<p>在即將到來的年份中，第一隻值得購買的超高收益分紅股票是製藥巨頭 <strong>輝瑞</strong>（PFE 4.67%）。儘管輝瑞因其 COVID-19 療法的銷售下滑而受到影響，但這家公司顯然比十年前的狀態要好得多。</p>
<p>例如，儘管其暢銷的 COVID-19 療法 Comirnaty 和 Paxlovid 的銷售額從 2022 年的超過 560 億美元回落至 2024 年預計的 85 億美元，但這仍然是十年前不存在的 85 億美元的高利潤收入。在短短四年內，該公司的銷售額預計將增長超過 190 億美元（約 46%），基於其 2024 年指導的中位數。</p>
<p>更進一步，輝瑞的累計產品組合（不包括 COVID-19 療法和收購）在有機基礎上持續擴展。投資者似乎過於關注 COVID-19 銷售的近期回落，完全忽視了輝瑞的腫瘤學和專業護理部門正在全面發力的更大局面。</p>
<p>投資者在新的一年中可以信任輝瑞的另一個原因是其在 2023 年 12 月收購了癌症藥物開發公司 Seagen。這一組合大大擴展了輝瑞的產品組合和腫瘤學管道，並預計將在 2024 年及以後帶來顯著的成本節約。</p>
<p>還應注意的是，醫療保健是一個高度防禦性的行業。無論美國和全球經濟表現如何，人們仍然會生病，需要醫療護理和處方藥。這種需求的一致性使輝瑞能夠在不確定的環境中保持良好的現金流可預測性。</p>
<p>輝瑞是一項安全且明智的投資，其收益率接近 7%，而其股票的估值不到 2025 年預測每股收益（EPS）的 9 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvbW9ydGdhZ2UtaG91c2UtY2FzaC1tb25leS1iaWxscy1yZWZpbmFuY2UtcmVpdC1vbmUtaHVuZHJlZC1kb2xsYXJzLWdldHR5LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvbW9ydGdhZ2UtaG91c2UtY2FzaC1tb25leS1iaWxscy1yZWZpbmFuY2UtcmVpdC1vbmUtaHVuZHJlZC1kb2xsYXJzLWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>Annaly 資本管理：13.14% 收益率</h2>
<p>在新的一年中，第二隻值得購買的超高收益分紅股票是抵押房地產投資信託（REIT）<strong>Annaly 資本管理</strong>（NLY -1.42%）。儘管 Annaly 超過 13% 的驚人收益率可能讓投資者覺得不可持續，但在過去二十年中，其平均收益率約為 10%。</p>
<p>抵押 REIT 可能是華爾街上最不受歡迎的行業。這些企業旨在以低短期利率借款，併購買收益更高的長期資產，如抵押貸款支持證券（MBS）。這種運營動態意味着像 Annaly 這樣的抵押 REIT 對利率變化非常敏感。在 2022 年 3 月至 2023 年 7 月之間，四十年來最陡峭的加息週期壓縮了 Annaly 及其同行的淨利差。</p>
<p>使 Annaly 資本管理如此引人注目的是，美聯儲現在已轉向降息週期。利率下降往往會降低短期借款成本，並允許抵押 REIT 擴大其淨利差。歷史上，當國家中央銀行降低利率並採取有條不紊、明確的行動時，Annaly 的表現最佳。</p>
<p>與此同時，Annaly 投資組合中持有的 MBS 的平均收益率預計將隨着利率的緩慢但穩定的下降而繼續上升。換句話説，美聯儲為遏制高通脹而進行的快速加息週期提升了 Annaly 所購買的 MBS 的收益率。</p>
<p>投資者也可以放心購買 Annaly，因為它主要專注於機構資產。“機構” 證券是指在基礎資產違約的情況下由聯邦政府擔保的證券。這一額外的保護層使公司能夠槓桿其投資，並維持其豐厚的兩位數收益率。</p>
<p>隨着 Annaly 資本管理預計將受益於利率下降的環境，其股票交易接近賬面價值，現在看起來是機會主義收入尋求者上車的完美時機。</p>
<h2>Realty Income：5.72% 收益率</h2>
<p>2025 年值得購買的第三隻極其安全的超高收益股是頂級零售房地產投資信託公司 <strong>Realty Income</strong>(O -0.11%)。Realty Income 每月發放一次股息，並在過去的 109 個季度中每次都增加了股息——這一持續時間超過 27 年。</p>
<p>Annaly 資本管理並不是唯一一家將從美聯儲温和的貨幣政策轉變中受益的房地產投資信託公司。較高的國債收益率往往會吸引收入尋求者遠離高收益股票，轉向超安全的政府債券。隨着中央銀行降低利率，應該會重新點燃對高收益股票的興趣，例如 Realty Income。</p>
<p>使這家零售房地產投資信託公司數十年來成為可靠投資的原因是其一流的商業房地產（CRE）投資組合。它在 9 月季度結束時擁有近 15,500 個 CRE 物業，其中約 90%“對經濟衰退具有韌性和/或不受電子商務壓力影響”。Realty Income 專注於銷售在任何經濟環境中都需要的商品和服務的獨立商店。這意味着租金拖欠幾乎不是問題。</p>
<p>對於 Realty Income 來説，另一個不成問題的事情是讓租户留在這裏。它在 9 月季度結束時的入住率為 98.7%，自 20 世紀初以來的平均入住率為 98.2%。相比之下，本世紀標準普爾 500 房地產投資信託的中位入住率低 400 個基點（94.2%）。</p>
<p>儘管 Realty Income 的零售驅動 CRE 模式運作良好，但這並沒有阻止公司擴展視野並進行收購。它在 1 月份收購了 Spirit Realty Capital，以補充其現有的物業組合，並在去年與 <strong>Digital Realty Trust</strong> 建立了合資企業，以開發和租賃定製數據中心。多樣化其租金來源將使 Realty Income 的運營資金更加可預測和安全。</p>
<p>最後，Realty Income 的股票歷史上是便宜的。其股票的估值為 2025 年預測現金流的 12.5 倍，這比過去五年期間現金流的平均倍數低 25%。</p>

Annaly資本管理

輝瑞

<p>這篇文章討論了三隻超高收益的股息股票，值得在 2025 年考慮，強調了它們長期增長和穩定的潛力。輝瑞的收益率為 6.72%，以其強大的產品組合和最近收購 Seagen 而聞名，這增強了其腫瘤學產品線。Annaly 資本管理的收益率高達 13.14%，受益於向降息週期的轉變，這可能改善其淨利差。這些股票的整體平均收益率為 8.53%，使它們成為在波動市場中尋求可靠收入的投資者的有吸引力的選擇</p>

<p>Arguably the greatest aspect of putting your money to work on Wall Street is that there's no one-size-fits-all strategy to generate wealth. With thousands of publicly traded companies and exchange-traded funds (ETFs) to choose from, there are bound to be securities that can help you meet your investment goals.</p>
<div class="lb-trans"><p>可以説，在華爾街投資的最大優勢之一就是沒有一種適合所有人的財富生成策略。由於有成千上萬的上市公司和交易所交易基金（ETF）可供選擇，必然會有一些證券能夠幫助你實現投資目標。</p>
</div><p>But among these seemingly countless investment strategies, it's hard to overlook just how successful buying and holding dividend stocks has been for patient investors.</p>
<div class="lb-trans"><p>但在這些看似無窮無盡的投資策略中，購買並持有分紅股票對於耐心的投資者來説，成功的程度是顯而易見的。</p>
</div><p>Companies that pay a regular dividend to their shareholders tend to have a few things in common. They're almost always profitable on a recurring basis, time-tested, and capable of providing transparent long-term growth outlooks. In other words, these are the types of businesses we'd expect to increase in value over the long run.</p>
<div class="lb-trans"><p>支付定期分紅的公司往往有一些共同點。它們幾乎總是能夠持續盈利，經過時間的考驗，並且能夠提供透明的長期增長前景。換句話説，這些是我們期望在長期內增值的企業類型。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvcGVyc29uLWhvbGRpbmctY2FzaC1iaWxscy1tb25leS1odW5kcmVkLWRvbGxhci1maWZ0eS1kaXZpZGVuZC1pbmNvbWUtaW52ZXN0LXJldGlyZS1zcGVuZC1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801116%2Fperson-holding-cash-bills-money-hundred-dollar-fifty-dividend-income-invest-retire-spend-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><p>Perhaps more importantly, dividend stocks offer a rich history of outperformance. In <em>The Power of Dividends: Past, Present, and Future</em>, the researchers at Hartford Funds compared the average annual return of dividend stocks to non-payers over a 50-year period (1973-2023). Hartford Funds found that dividend stocks more than doubled the average annual return of non-payers (9.17% versus 4.27%), and did so while being less-volatile than the benchmark <strong>S&amp;P 500</strong>.</p>
<div class="lb-trans"><p>或許更重要的是，分紅股票有着豐富的超額收益歷史。在《分紅的力量：過去、現在與未來》中，哈特福德基金的研究人員比較了分紅股票與非分紅股票在 50 年期間（1973-2023）的平均年回報率。哈特福德基金髮現，分紅股票的平均年回報率超過了非分紅股票的兩倍（9.17% 對比 4.27%），而且波動性低於基準 <strong>標準普爾 500</strong> 指數。</p>
</div><p>Taking into account that this is one of the priciest stock markets in history, buying time-tested dividend stocks might be a genius strategy for 2025.</p>
<div class="lb-trans"><p>考慮到這是歷史上最昂貴的股市之一，購買經過時間考驗的分紅股票可能是 2025 年的一個聰明策略。</p>
</div><p>What follows are three of the safest ultra-high-yield dividend stocks -- &#34;ultra-high-yield stocks&#34; have yields that are at least four times greater than the yield of the S&amp;P 500 -- to buy in the new year, which are yielding an <em>average</em> of 8.53%!</p>
<div class="lb-trans"><p>接下來是三隻最安全的超高收益分紅股票——“超高收益股票” 的收益率至少是標準普爾 500 收益率的四倍——在新的一年中值得購買，平均收益率為 8.53%!</p>
</div><h2>Pfizer: 6.72% yield</h2>
<div class="lb-trans"><h2>輝瑞：6.72% 收益率</h2>
</div><p>The first ultra-high-yield dividend stock that makes for a no-brainer buy in the upcoming year is pharmaceutical juggernaut <strong>Pfizer</strong>(PFE 4.67%). Though Pfizer has been weighed down by shrinking sales from its line of COVID-19 therapies, this is a company that's unmistakably in better shape now than it was when the decade began.</p>
<div class="lb-trans"><p>在即將到來的年份中，第一隻值得購買的超高收益分紅股票是製藥巨頭 <strong>輝瑞</strong>（PFE 4.67%）。儘管輝瑞因其 COVID-19 療法的銷售下滑而受到影響，但這家公司顯然比十年前的狀態要好得多。</p>
</div><p>For example, even though sales of its blockbuster COVID-19 therapies, Comirnaty and Paxlovid, have retraced from north of $56 billion in 2022 to an estimated $8.5 billion in 2024, this is still $8.5 billion in high-margin revenue that didn't exist when the decade began. In just four years, the company's sales are on pace to have climbed by more than $19 billion (roughly 46%), based on the midpoint of its 2024 guidance.</p>
<div class="lb-trans"><p>例如，儘管其暢銷的 COVID-19 療法 Comirnaty 和 Paxlovid 的銷售額從 2022 年的超過 560 億美元回落至 2024 年預計的 85 億美元，但這仍然是十年前不存在的 85 億美元的高利潤收入。在短短四年內，該公司的銷售額預計將增長超過 190 億美元（約 46%），基於其 2024 年指導的中位數。</p>
</div><p>To add to this point, Pfizer's cumulative product portfolio, sans COVID-19 therapies and acquisitions, has continued to expand on an organic basis. Investors seem to be overly focused on the recent pullback in COVID-19 sales and have completely missed the bigger picture that shows Pfizer's oncology and specialty care segments are firing on all cylinders.</p>
<div class="lb-trans"><p>更進一步，輝瑞的累計產品組合（不包括 COVID-19 療法和收購）在有機基礎上持續擴展。投資者似乎過於關注 COVID-19 銷售的近期回落，完全忽視了輝瑞的腫瘤學和專業護理部門正在全面發力的更大局面。</p>
</div><p>Another reason investors can trust Pfizer in the new year is because of its December 2023 acquisition of cancer-drug developer Seagen. This combination vastly expands Pfizer's product portfolio and oncology pipeline and should result in meaningful cost-savings in 2024 and beyond.</p>
<div class="lb-trans"><p>投資者在新的一年中可以信任輝瑞的另一個原因是其在 2023 年 12 月收購了癌症藥物開發公司 Seagen。這一組合大大擴展了輝瑞的產品組合和腫瘤學管道，並預計將在 2024 年及以後帶來顯著的成本節約。</p>
</div><p>It should also be noted that healthcare is a highly defensive industry. No matter how well or poorly the U.S. and global economy are performing, people will still become ill, require medical care, and need prescription medicine. This consistency in demand allows Pfizer to navigate uncertain environments with a good degree of cash-flow predictability.</p>
<div class="lb-trans"><p>還應注意的是，醫療保健是一個高度防禦性的行業。無論美國和全球經濟表現如何，人們仍然會生病，需要醫療護理和處方藥。這種需求的一致性使輝瑞能夠在不確定的環境中保持良好的現金流可預測性。</p>
</div><p>Pfizer makes for a safe and smart investment with its yield approaching 7% and its shares valued at less than 9 times forecast earnings per share (EPS) in 2025.</p>
<div class="lb-trans"><p>輝瑞是一項安全且明智的投資，其收益率接近 7%，而其股票的估值不到 2025 年預測每股收益（EPS）的 9 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDExMTYvbW9ydGdhZ2UtaG91c2UtY2FzaC1tb25leS1iaWxscy1yZWZpbmFuY2UtcmVpdC1vbmUtaHVuZHJlZC1kb2xsYXJzLWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801116%2Fmortgage-house-cash-money-bills-refinance-reit-one-hundred-dollars-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Annaly Capital Management: 13.14% yield</h2>
<div class="lb-trans"><h2>Annaly 資本管理：13.14% 收益率</h2>
</div><p>A second ultra-high-yield dividend stock that makes for a slam-dunk buy in the new year is mortgage real estate investment trust (REIT) <strong>Annaly Capital Management</strong>(NLY -1.42%). Though Annaly's jaw-dropping yield of more than 13% might strike investors as unsustainable, it's been averaging a roughly 10% yield over the last two decades.</p>
<div class="lb-trans"><p>在新的一年中，第二隻值得購買的超高收益分紅股票是抵押房地產投資信託（REIT）<strong>Annaly 資本管理</strong>（NLY -1.42%）。儘管 Annaly 超過 13% 的驚人收益率可能讓投資者覺得不可持續，但在過去二十年中，其平均收益率約為 10%。</p>
</div><p>Mortgage REITs might be the most-disliked industry on Wall Street. These are businesses that aim to borrow at low short-term rates and purchase higher-yielding long-term assets, such as mortgage-backed securities (MBS). This operating dynamic means mortgage REITs like Annaly are highly sensitive to changes in interest rates. The steepest rate-hiking cycle in four decades between March 2022 and July 2023 squeezed the net interest margin for Annaly and its peers.</p>
<div class="lb-trans"><p>抵押 REIT 可能是華爾街上最不受歡迎的行業。這些企業旨在以低短期利率借款，併購買收益更高的長期資產，如抵押貸款支持證券（MBS）。這種運營動態意味着像 Annaly 這樣的抵押 REIT 對利率變化非常敏感。在 2022 年 3 月至 2023 年 7 月之間，四十年來最陡峭的加息週期壓縮了 Annaly 及其同行的淨利差。</p>
</div><p>What makes Annaly Capital Management so intriguing is that the Federal Reserve has now shifted to a rate-easing cycle. Declining interest rates tend to reduce short-term borrowing costs and allow mortgage REITs to expand their net interest margin. Historically, Annaly has performed its best when the nation's central bank is lowering rates and making methodical, well-telegraphed moves.</p>
<div class="lb-trans"><p>使 Annaly 資本管理如此引人注目的是，美聯儲現在已轉向降息週期。利率下降往往會降低短期借款成本，並允許抵押 REIT 擴大其淨利差。歷史上，當國家中央銀行降低利率並採取有條不紊、明確的行動時，Annaly 的表現最佳。</p>
</div><p>At the same time, the average yield on the MBSs held in Annaly's portfolio should continue to rise with rates expected to decline at a slow but steady pace. In other words, the rapid rate-hiking cycle the Fed undertook to quell high inflation has lifted the yields on the MBSs Annaly has been buying.</p>
<div class="lb-trans"><p>與此同時，Annaly 投資組合中持有的 MBS 的平均收益率預計將隨着利率的緩慢但穩定的下降而繼續上升。換句話説，美聯儲為遏制高通脹而進行的快速加息週期提升了 Annaly 所購買的 MBS 的收益率。</p>
</div><p>Investors can also feel confident buying into Annaly because it's primarily focused on agency assets. An &#34;agency&#34; security is one that's backed by the federal government in the event that the underlying asset defaults. This added layer of protection allows the company to lever its investments and sustain its juicy double-digit yield.</p>
<div class="lb-trans"><p>投資者也可以放心購買 Annaly，因為它主要專注於機構資產。“機構” 證券是指在基礎資產違約的情況下由聯邦政府擔保的證券。這一額外的保護層使公司能夠槓桿其投資，並維持其豐厚的兩位數收益率。</p>
</div><p>With Annaly Capital Management expected to benefit from a declining-rate environment and its stock trading close to its book value, now looks like the perfect time for opportunistic income seekers to hop aboard.</p>
<div class="lb-trans"><p>隨着 Annaly 資本管理預計將受益於利率下降的環境，其股票交易接近賬面價值，現在看起來是機會主義收入尋求者上車的完美時機。</p>
</div><h2>Realty Income: 5.72% yield</h2>
<div class="lb-trans"><h2>Realty Income：5.72% 收益率</h2>
</div><p>The third exceptionally safe ultra-high-yield dividend stock to buy in 2025 is premier retail REIT, <strong>Realty Income</strong>(O -0.11%). Realty Income doles out its dividend on a monthly basis and has increased its payout in each of the last 109 quarters -- a stretch of more than 27 straight years.</p>
<div class="lb-trans"><p>2025 年值得購買的第三隻極其安全的超高收益股是頂級零售房地產投資信託公司 <strong>Realty Income</strong>(O -0.11%)。Realty Income 每月發放一次股息，並在過去的 109 個季度中每次都增加了股息——這一持續時間超過 27 年。</p>
</div><p>Annaly Capital Management isn't the only REIT that's set to enjoy a nice lift from the Fed's dovish shift in monetary policy. Higher Treasury yields tend to lure income seekers away from high-yield equities and toward ultra-safe government bonds. With the central bank lowering interest rates, it should reignite interest in stocks with higher yields, such as Realty Income.</p>
<div class="lb-trans"><p>Annaly 資本管理並不是唯一一家將從美聯儲温和的貨幣政策轉變中受益的房地產投資信託公司。較高的國債收益率往往會吸引收入尋求者遠離高收益股票，轉向超安全的政府債券。隨着中央銀行降低利率，應該會重新點燃對高收益股票的興趣，例如 Realty Income。</p>
</div><p>What's made this retail REIT such a surefire investment for decades is its top-notch commercial real estate (CRE) portfolio. It closed out the September quarter with close to 15,500 CRE properties, of which approximately 90% were &#34;resilient to economic downturns and/or isolated from e-commerce pressures.&#34; Realty Income focuses on stand-alone stores that sell goods and services that are needed in any economic climate. This means rental delinquencies are rarely an issue.</p>
<div class="lb-trans"><p>使這家零售房地產投資信託公司數十年來成為可靠投資的原因是其一流的商業房地產（CRE）投資組合。它在 9 月季度結束時擁有近 15,500 個 CRE 物業，其中約 90%“對經濟衰退具有韌性和/或不受電子商務壓力影響”。Realty Income 專注於銷售在任何經濟環境中都需要的商品和服務的獨立商店。這意味着租金拖欠幾乎不是問題。</p>
</div><p>Something else that's not a problem for Realty Income is getting its renters to stick around. It ended the September quarter with an occupancy rate of 98.7% and an average occupancy rate of 98.2%, dating back to the start of the 20th century. By comparison, the median occupancy rate for S&amp;P 500 REITs is 400 basis points lower (94.2%) this century.</p>
<div class="lb-trans"><p>對於 Realty Income 來説，另一個不成問題的事情是讓租户留在這裏。它在 9 月季度結束時的入住率為 98.7%，自 20 世紀初以來的平均入住率為 98.2%。相比之下，本世紀標準普爾 500 房地產投資信託的中位入住率低 400 個基點（94.2%）。</p>
</div><p>While Realty Income's retail-driven CRE model is working great, it hasn't stopped the company from expanding its horizons and making acquisitions. It acquired Spirit Realty Capital in January to complement its existing property portfolio, and forged a joint venture with <strong>Digital Realty Trust</strong> last year to develop and rent build-to-suit data centers. Diversifying its rental stream will only make Realty Income's funds from operations more predictable and secure.</p>
<div class="lb-trans"><p>儘管 Realty Income 的零售驅動 CRE 模式運作良好，但這並沒有阻止公司擴展視野並進行收購。它在 1 月份收購了 Spirit Realty Capital，以補充其現有的物業組合，並在去年與 <strong>Digital Realty Trust</strong> 建立了合資企業，以開發和租賃定製數據中心。多樣化其租金來源將使 Realty Income 的運營資金更加可預測和安全。</p>
</div><p>To rounds things out, Realty Income stock is historically cheap. Shares are valued at 12.5 times forecast cash flow for 2025, which represents a 25% discount to its average multiple to cash flow over the trailing-five-year period.</p>
<div class="lb-trans"><p>最後，Realty Income 的股票歷史上是便宜的。其股票的估值為 2025 年預測現金流的 12.5 倍，這比過去五年期間現金流的平均倍數低 25%。</p>
</div>

3 of the Safest Ultra-High-Yield Dividend Stocks to Buy in 2025

- 投資者在華爾街可選擇多種策略，買入持有股息股票表現優異。  
- 研究顯示，股息股票在過去 50 年中年均回報率為 9.17%，遠超非支付股息股票的 4.27%。  
- 三隻推薦的高股息股票包括輝瑞（6.72%）、Annaly Capital（13.14%）和 Realty Income（5.72%）。  

2025 年最安全的超高收益股息股票中的三隻