I threw a teaser in my last purchase article by mentioning that there was something else that I wanted to share with the community. Well, back when I was setting my goals for 2016, I pushed myself to achieve at least $3,250 in annual dividend income. You guessed it….my last purchase of Realty income pushed me over this mark and my forward dividend income total now sits at $3,265. Now, I’ll summarize how I was able to knock this goal out with just under two months to spare in 2016.
I figured you all would see this coming considering one of my last posts and involved performing a dividend stock analysis over one of the most population REITs in the dividend investing community and I recently featured the company on my last watch list. But this week, I took some capital off the sidelines and put it back into the market as stock prices continue to tumble. Time to share with you the newest addition to my portfolio, Realty Income (O)!
You have to love Mr. Market when the trend turns lower. You have to be prepared, the artillery ready and the decisiveness to your actions. I am so lucky that I was ready last week, especially on Monday the 12th, when the market plunged downward and I had been prepared to make a purchase or two. Those two purchases happened to be Target (TGT) and T. Rowe Price (TROW).
This week, I officially jumped back into the marketplace. It feels like it has been a while and finding great stocks at a value has been difficult (which is part of the reason why Lanny’s portfolio has sky-rocketed over the last few months). If you have been following the blog over the last few weeks or if you read the title to the article before clicking, the stock I purchased this week shouldn’t be a surprise. Time to see where I allocated my capital this week.
What a journey it has been so far. Last week, after a sudden drop in earnings, Target’s price fell and I swooped up an additional 30 shares of the major retailer. Now, I own 80 freaking shares and couldn’t be happier. But the good great news didn’t stop there. No, that investment also put me over a milestone that I have been eyeing for a few months now. This last purchased pushed my forward dividend income over the $3,000 mark and you know what, there is no turning back now. How did I get to this point? Let’s take a look!
Two months ago was my last individual stock purchase. The market was showing signs of distress and on Thursday, August 28th, a purchase was made. This has been a familiar face to not just me, but both dividend diplomats and the price was right for an additional purchase. The position I further enhanced was primarily due to industry knowledge, yield and direction financial institutions are heading. Let’s find out why I purchased more shares in Citizens and Northern (CZNC)!
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It feels good to step off the sidelines and buy a stock considering the market has been on a tear for the last few months. Slowly and surely, I was stashing cash aside waiting for the right opportunity to strike. On this day, I received a message from Lanny in the morning that was short and to the point. “Target…may be time to buy.” I had just woke up at this time (I was in a timezone two hours behind), but I knew that message meant that something big happened with Target’s stock that caused the price to drop. When I read the text, I didn’t realize it, but Target was falling after their most recent earnings release. The time was right, so let’s see I decided to purchase additional shares of Target this week.