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Real estate investment trusts (REITs) offer attractive options for investors looking to supplement their monthly income. REITs own, operate, or finance income-producing real estate, allowing individuals to invest in various types of real estate without direct ownership or management responsibilities.
REITs must also pay out a large percentage of their taxable income to shareholders in the form of dividends, which often results in high returns.
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If you’re an investor looking for income, here are three high-yield REITs that pay monthly dividends.
Whitestone REIT
Whitestone REIT (NYSE:WSR) owns and operates a portfolio of outdoor shopping centers. As of June 30, the portfolio consisted of 57 properties with a gross lettable area of approximately 5.1 million square meters. The properties are located in some of the fastest growing markets in the US, including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Whitestone pays a monthly dividend of $0.04125 per share, which equates to an annualized dividend of $0.495 per share and gives its stock a yield of approximately 3.7% at the time of writing.
Whitestone has also delivered dividend growth to its shareholders. The country has increased its annual dividend payout for two years in a row and the 3% increase in March puts it on track for 2024, marking the third straight year of an increase.
Agree Real estate company
Agree Real estate company (NYSE:ADC) owns and manages a portfolio of retail properties including community shopping centers, warehouse clubs, convenience stores, quick service restaurants and auto dealerships. As of June 30, the portfolio consisted of 2,202 properties with an area of approximately 46 million square meters.
Agree Realty pays a monthly dividend of $0.25 per share, which equates to an annualized dividend of $3.00 per share and gives its stock a yield of approximately 4.05% at the time of writing.
Like Whitestone, Agree Realty has shown a commitment to growing its dividend. It has increased its annual dividend payment for 11 years in a row and recent hikes, including April’s 2.9% increase, put it on track in 2024 to mark its 12th straight year of growth.
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Real estate income
Real estate income (NYSE:O) is the seventh largest REIT in the world by market capitalization. As of June 30, the portfolio consisted of 15,450 properties covering approximately 335 million square feet.
Realty Income pays a monthly dividend of $0.2635 per share, which equates to an annualized dividend of $3.162 per share and currently gives its stock a yield of about 5.1%.
In addition to offering high yields, Realty Income is one of the best sources of dividend growth in the REIT sector. The company has increased its annual dividend payment for 29 years in a row. Recent interest rate increases, including the 0.2% increase in September, mean that interest rates will mark their thirtieth year in a row in 2024.
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This article October’s Best Dividend Stocks for Retirees Looking for Reliable Monthly Income originally appeared on Benzinga.com
