Realty Income's 20%+ correction is among the most attractive long-term opportunities in the market, since such drops in a blue-chip dividend REIT typically do not last. The business keeps performing, with AFFO per share up 3.8% year over year and 136 monthly dividend increases since its NYSE listing. The stock sits about 10% below its 200-week moving average with a historically oversold daily RSI. x.com 

The Fed's September 16 quarter-point hike affects the high-moat portfolio differently from the simple picture of borrowers paying more. Bond-rating companies are having record quarters because the AI building boom keeps borrowing whatever rates do, while brokers that should win get only a small bump. The real damage falls on home loans and on the price investors will pay today for profits far in the future, which is where most of the portfolio sits. x.com 

Realty Income is no longer interesting because, as a net-lease landlord, it earns only a thin financing spread, roughly a 5% dividend, which rising rates will squeeze further. It uses its capital scale to buy land and lease it back to operators. Its data-center move, $1.9B of a $6.7B commitment with partners including Digital Realty, uses the same spread model, and REITs accepting such spreads erode data-center leasing profits. Vertically integrated businesses are riskier but more worthwhile. … Show more