<p><strong>房地產收入</strong>(O 1.60%) 在房地產投資信託（REIT）行業中擁有最可靠的分紅記錄之一。自 1994 年上市以來，它已經增加了 131 次月度分紅，包括過去連續 111 個季度。這超過了三十年的年度分紅增長。</p>
<p>目前股價約低於 52 周高點 9%，分紅收益率約為 5.5%。這是一個吸引人的入場點。隨着未來更多的分紅增長，房地產收入是一隻值得購買和持有的優秀房地產股票，能夠帶來潛在的終身分紅收入。</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>圖片來源：Getty Images。</p>
<h2>儘管表現穩健仍下跌</h2>
<p>房地產收入今年表現良好。該 REIT 在 2025 年上半年每股調整後運營資金（FFO）為 2.11 美元。這得益於其傳統投資組合的穩健表現。同店租金增長平均為 1.2%（高於其約 1% 的指導），而入住率平均為 98.6%（與其超過 98% 的預測一致）。該 REIT 還獲得了 25 億美元的新投資，使其在今年投資 40 億美元的初始步伐上領先。</p>
<p>這種穩健的表現使房地產收入能夠繼續增加其分紅。今年它已經提高了四次分紅，過去 12 個月總共增長了 3.7%。</p>
<p>公司年初的強勁開局使其有信心提高全年展望。房地產收入現在預計其投資總額將達到約 50 億美元。這推動其預計今年每股調整後 FFO 將在 4.24 美元至 4.28 美元之間，略高於其最初的 4.22 美元至 4.28 美元的預測。</p>
<p>房地產收入的股價從高峰下跌 9%，目前交易價格低於每股 59 美元。這使得該 REIT 的估值不到其調整後 FFO 的 14 倍。與其他在 <strong>標準普爾 500</strong> 中交易的 REIT 相比，這一水平具有吸引力，後者的平均交易倍數為 18 倍 FFO。</p>
<h2>巨大的增長空間</h2>
<p>房地產收入通過穩步收購額外物業，已成長為全球第六大 REIT。它目前在九個國家擁有超過 15,600 處物業，價值約 610 億美元。其投資組合包括零售（佔其年度基礎租金的 79.9%）、工業（14.6%）、博彩（3.1%）和其他物業（2.4%）。</p>
<p>該 REIT 通過擴展到新的投資領域增強了其持續增長的能力。例如，它已進入英國和幾個歐洲國家，開啓了 8.5 萬億美元的投資機會。這一舉措確實取得了豐厚回報。歐洲在第二季度佔公司投資總額的 76%，因為它在該地區發現了大量高回報的投資機會。</p>
<p>房地產收入還在美國擴展到新的投資領域，包括賭場物業和數據中心。這些舉措將其可尋址市場機會擴大了約 9000 億美元。再加上其核心的美國零售和工業平台，房地產收入看到的綜合投資機會高達驚人的 14 萬億美元。</p>
<p>該公司在 REIT 行業中擁有最好的資產負債表之一，給予其充足的財務靈活性以繼續進行收購。房地產收入最近還在美國推出了一隻私募資本基金，進一步增強了其獲取收購資本的能力。通過該基金進行的投資將獲得管理費收入，進一步提升其投資回報。</p>
<p>隨着未來仍有如此多的增長機會，房地產收入應該能夠在未來幾十年繼續擴展其投資組合和分紅。</p>
<h2>永恆的收入股票</h2>
<p>房地產收入在過去幾十年中一直是一隻出色的分紅股票。它處於一個強勁的位置，能夠在未來繼續增長其分紅。隨着股價下跌，現在是購買這隻頂級房地產分紅股票並持有以獲得潛在的終身分紅收入的絕佳時機。</p>

<p>Realty Income 是一家領先的房地產投資信託（REIT），擁有強勁的分紅歷史，自 1994 年以來已增加 131 次每月分紅。目前，其股價較峯值下跌 9%，提供 5.5% 的收益率。該 REIT 的穩健表現包括每股調整後的基金運營收入（FFO）為 2.11 美元，並提高了全年投資展望至 50 億美元。Realty Income 的多元化投資組合覆蓋全球超過 15,600 處物業，在歐洲和新的美國垂直市場具有顯著的增長機會。憑藉強大的資產負債表，它仍然是長期分紅收入的首選</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>房地產收入</strong>(O 1.60%) 在房地產投資信託（REIT）行業中擁有最可靠的分紅記錄之一。自 1994 年上市以來，它已經增加了 131 次月度分紅，包括過去連續 111 個季度。這超過了三十年的年度分紅增長。</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>目前股價約低於 52 周高點 9%，分紅收益率約為 5.5%。這是一個吸引人的入場點。隨着未來更多的分紅增長，房地產收入是一隻值得購買和持有的優秀房地產股票，能夠帶來潛在的終身分紅收入。</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>圖片來源：Getty Images。</p>
</div><h2>Down despite its solid performance</h2>
<div class="lb-trans"><h2>儘管表現穩健仍下跌</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>房地產收入今年表現良好。該 REIT 在 2025 年上半年每股調整後運營資金（FFO）為 2.11 美元。這得益於其傳統投資組合的穩健表現。同店租金增長平均為 1.2%（高於其約 1% 的指導），而入住率平均為 98.6%（與其超過 98% 的預測一致）。該 REIT 還獲得了 25 億美元的新投資，使其在今年投資 40 億美元的初始步伐上領先。</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>這種穩健的表現使房地產收入能夠繼續增加其分紅。今年它已經提高了四次分紅，過去 12 個月總共增長了 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>公司年初的強勁開局使其有信心提高全年展望。房地產收入現在預計其投資總額將達到約 50 億美元。這推動其預計今年每股調整後 FFO 將在 4.24 美元至 4.28 美元之間，略高於其最初的 4.22 美元至 4.28 美元的預測。</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>房地產收入的股價從高峰下跌 9%，目前交易價格低於每股 59 美元。這使得該 REIT 的估值不到其調整後 FFO 的 14 倍。與其他在 <strong>標準普爾 500</strong> 中交易的 REIT 相比，這一水平具有吸引力，後者的平均交易倍數為 18 倍 FFO。</p>
</div><h2>A massive growth runway</h2>
<div class="lb-trans"><h2>巨大的增長空間</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>房地產收入通過穩步收購額外物業，已成長為全球第六大 REIT。它目前在九個國家擁有超過 15,600 處物業，價值約 610 億美元。其投資組合包括零售（佔其年度基礎租金的 79.9%）、工業（14.6%）、博彩（3.1%）和其他物業（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>該 REIT 通過擴展到新的投資領域增強了其持續增長的能力。例如，它已進入英國和幾個歐洲國家，開啓了 8.5 萬億美元的投資機會。這一舉措確實取得了豐厚回報。歐洲在第二季度佔公司投資總額的 76%，因為它在該地區發現了大量高回報的投資機會。</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>房地產收入還在美國擴展到新的投資領域，包括賭場物業和數據中心。這些舉措將其可尋址市場機會擴大了約 9000 億美元。再加上其核心的美國零售和工業平台，房地產收入看到的綜合投資機會高達驚人的 14 萬億美元。</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>該公司在 REIT 行業中擁有最好的資產負債表之一，給予其充足的財務靈活性以繼續進行收購。房地產收入最近還在美國推出了一隻私募資本基金，進一步增強了其獲取收購資本的能力。通過該基金進行的投資將獲得管理費收入，進一步提升其投資回報。</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>隨着未來仍有如此多的增長機會，房地產收入應該能夠在未來幾十年繼續擴展其投資組合和分紅。</p>
</div><h2>A forever income stock</h2>
<div class="lb-trans"><h2>永恆的收入股票</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>房地產收入在過去幾十年中一直是一隻出色的分紅股票。它處於一個強勁的位置，能夠在未來繼續增長其分紅。隨着股價下跌，現在是購買這隻頂級房地產分紅股票並持有以獲得潛在的終身分紅收入的絕佳時機。</p>
</div>

一隻表現卓越的房地產股息股票下跌 9%，值得長期買入並持有