3 Magnificent S&P 500 Dividend Stocks Down 20% to Buy and Hold Forever

The S&P 500 has rallied about 25% over the past year. It has risen thanks to a strong economy and moderating inflation, with the latter factor enabling the Federal Reserve to start reducing interest rates. However, not every stock has participated in the broader market's bull run. Several top real estate investment trusts (REITs) are down about 20% from their recent highs, including Realty Income (NYSE: O), Prologis (NYSE: PLD), and Extra Space Storage (NYSE: EXR). That's partly due to the Fed's decision to slow the pace of future rate reductions since the economy remains strong while inflation hasn't cooled off enough. Because of that, these excellent dividend stocks offer even higher dividend yields, making them great stocks to buy now and hold for a potential lifetime of passive dividend income. Realty Income has done a magnificent job increasing its dividend over the years. The diversified REIT recently delivered its 128th dividend increase since its public market listing in 1994. It currently has streaks of 109 straight quarters and 30 consecutive years of boosting its dividend. The REIT has grown its payout at a 4.3% compound annual rate during that period. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool