Is Realty Income's Nearly 6% Yield a Bargain or a Trap?

Realty Income's stock price has declined approximately $10 per share over the past month due to rising interest rates, pushing its dividend yield to nearly 6%. Despite headwinds from higher borrowing costs, the author argues the REIT is a bargain buy given its fortress balance sheet, conservative payout ratio, strategic partnerships, and strong history of dividend growth. The company's lower exposure to rate increases compared to other REITs positions it well for continued dividend growth.