Hello everyone,
While this market is making it somewhat difficult to find good value, I still want to nibble here and there to keep my portfolio rolling. Today I purchased a company that I sold months ago, as I felt at the time it was overvalued so I took a profit with the hopes it would fall and I'd repurchase. Today was that day! That company is Realty Income, O, which has fallen considerably from when I sold it at a tad over $70. I've been hoping for a nice drop in the REIT sector, along with a short drop with the FED interest increase. It didn't drop too much with the FED increase but it's still at a good point with it's drop over the past few months. I decided to only purchase a small position, with hopes it will continue falling and I'll add to it in the weeks ahead. Here is a summary of the purchase:
Realty Income Corp. (O):
Shares: 20
Purchase Price: $54.05
Commission: $0
Total: $1081
Forward 12 month Dividend Income: $48.72
Overall, I feel it was a good starting point to get back into an O position. I purchased these shares in my Roth account to maximize tax value with a REIT. I still have some cash sitting in my Roth, so I may add more shares with any downward movement. Well that's it for now and thank you for stopping by!
Many will tell you that you were foolish to sell the stock, then buy it back. but not this guy ;-). Nice move.
ReplyDeleteBuy low and sell high is the way to go. I think O's valuation was a bit out of touch with reality in the 70s so I can see why you sold it and it's gotten back to a more reasonable valuation now.
ReplyDeleteGreat purchase! I'm transferring some money to my IRA to make this exact purchase in a couple of days. I've been looking to get some more exposure to REITs and, as you know, it is much better to own them in a tax-advantaged account.
ReplyDeleteScott
REITs still look interesting. While I have my eye on the health REITs I see that O is a good pick up. Very popular among many of our fellow investors too. I always say it's nice to read about the buys as the market treads record highs.
ReplyDeleteI like Realty Income (O) a bunch and own it myself. I do like the monthly dividends they pay. Have fun with the shares.
ReplyDeleteO is part of my CORE holdings which I'm always adding to it along with the monthly DRIP.
ReplyDelete