3 Dividend Stocks to Double Up on Right Now

Key Points

• Realty Income trades at a bargain price these days.

• Brookfield Asset Management expects to deliver robust growth over the next five years.

• Oneok has visible growth coming down the pipeline through 2028.

• 10 stocks we like better than Realty Income ›

Dividend stocks are often great long-term investments. Not only can the best ones supply you with a steadily rising stream of passive income, but they can also deliver solid stock price gains. Over time, that combination truly adds up.

Realty Income (NYSE: O), Brookfield Asset Management (NYSE: BAM), and Oneok (NYSE: OKE) stand out as top dividend stocks. Here's why you might consider doubling your position or adding them to your portfolio right now.

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A dirt cheap REIT

Realty Income has been one of the most dependable dividend stocks over the past few decades. The real estate investment trust (REIT) has increased its monthly dividend 132 times since its public market listing in 1994. It has raised its dividend for 112 straight quarters and more than 30 years in a row, growing it at a 4.2% compound annual rate. Realty Income's payout currently yields 5.4%, several times higher than the S&P 500's 1.2% yield.

The REIT is a highly attractive investment opportunity right now. It currently trades at around 13 times forward earnings, well below the 18 multiple of other REITs in the S&P 500. Realty Income sells at a discount compared to its REIT peers even though it has delivered a higher operational total return (dividend yield plus FFO-per-share growth rate) over the past one-, three-, and five-year periods.

Realty Income is in an excellent position to continue growing its FFO per share and dividend. It boasts a top-10 balance sheet in the REIT sector, affording it ample financial flexibility to continue expanding its portfolio. Meanwhile, it has a vast opportunity ahead, with an estimated $14 trillion total addressable market. This enables the company to be highly selective, closing only on the best investment opportunities (it closed 2.7% of the $43 billion in potential deals it sourced in the second quarter).

Rapid growth ahead

Brookfield Asset Management is becoming a dividend growth juggernaut. The leading global alternative investment manager became a separate public company in late 2022 following its spinoff from Brookfield Corporation. Since initiating its dividend the following year, Brookfield has raised its payout by 19% in 2024 and by 15% earlier this year. Its dividend currently yields 3%.

The company's alternative asset management business generates stable cash flow from predictable fee-based income. Brookfield currently has $560 billion of fee-bearing assets under management, a number it expects to more than double by 2030 to $1.2 trillion. Several catalysts drive this view, including the growing demand for alternative investments, especially among individual investors. That enables Brookfield to launch larger funds and new strategies.

Brookfield expects rising fee-based income will grow its distributable earnings per share at an 18% compound annual rate over the next five years. That should support annual dividend growth of 15% or more over that period.

Increasingly visible growth

Oneok has provided more than 25 years of dividend stability and growth. Although it hasn't increased its payout every single year during that span, it has still delivered a peer-leading growth rate approaching 100% over the past decade. The current dividend yield stands at 5.6%.

The pipeline company intends to boost its dividend by 3% to 4% annually for the foreseeable future. It's still integrating several large-scale acquisitions made in recent years. Oneok anticipates capturing hundreds of millions of dollars in additional synergies from these deals over the next few years to boost its bottom line.

Oneok also has several expansion projects under construction that support its growth outlook. For example, a joint venture recently approved the Eiger Express Pipeline, extending its growth visibility through mid-2028. These commercially secured projects will provide incremental cash flow as they enter service over the next few years, boosting Oneok's growth profile.

Attractive dividend stocks

Realty Income, Brookfield Asset Management, and Oneok pay high-yielding dividends that are expected to keep growing in the coming years. With this attractive mix of income and growth, these stocks are well positioned to deliver strong total returns. That makes them great stocks to double up on right now.

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Matt DiLallo has positions in Brookfield Asset Management, Brookfield Corporation, and Realty Income. The Motley Fool has positions in and recommends Brookfield, Brookfield Corporation, and Realty Income. The Motley Fool recommends Brookfield Asset Management and Oneok. The Motley Fool has a disclosure policy.