A recent article highlighted three reliable dividend stocks that are currently trading at lower valuations. Realty Income (O) is down about 8% from its high, mostly because of rising Treasury rates. It is yielding 5.2% and trading at 14 times its 2026 funds from operations. PepsiCo (PEP) has seen some sales pressure from higher prices, but organic sales still grew 2.6% in Q1. It yields 3.8% and has a forward P/E around 17. McDonald's (MCD) shares are down along with the broader restaurant industry. It currently yields 2.6% and is trading at 23 times earnings, which is on the lower end for the stock over the last decade. Could be worth a look if you are trying to build out a dividend portfolio.