Posted 3/19/2024, 10:45:00 AM
Dollar Tree Closing 1,000 Stores Over Several Years; Minimal Impact Seen for Realty Income
- Dollar Tree, Realty Income's 3rd largest tenant, is closing 1,000 stores over several years as leases expire
- Closures impact 3.3% of Realty Income's rent, less than 10% of Dollar Tree's stores
- Realty Income has time to find new tenants before closures happen
- Recent Spirit Realty acquisition diversifies revenue streams
- Despite closures, Realty Income raised dividends again, 645th consecutive monthly increase
