Industrial real estate investment trusts (REITs) own and manage income-producing industrial properties, such as warehouses, distribution centers, logistics facilities and factories. Industrial REITs generate income by leasing the properties.
Investors in industrial REITs can benefit from the demand for space in the logistics and manufacturing sectors. The growth of e-commerce and the need for efficient supply chain management have contributed to the growth of this space in recent years. Like other REITs, industrial REITs are required to distribute a significant portion of their earnings to shareholders in the form of dividends.
If you’re interested in investing in industrial REITs, here are two you can buy today.
Innovative industrial properties
Innovative Industrial Properties Inc.(NYSE:IIPR) acquires, owns and manages specialty properties leased to cannabis companies. The portfolio currently consists of 108 properties spread across 19 US states, including both industrial and retail properties.
Innovative Industrial Properties currently pays a quarterly dividend of $1.82 per share, which equates to an annualized dividend of $7.28 per share, giving its stock a yield of approximately 7.7% at the time of writing.
Innovative Industrial Properties is also a serial dividend grower. It has increased its annual dividend payout every year since its initial public offering in 2016, putting it on track for 2024 and marking its eighth straight year of increase.
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Americold Realty Trust
Americold Realty Trust (NYSE:COLD) owns and/or operates 245 temperature-controlled warehouses with approximately 1.5 billion refrigerated cubic meters of storage space in North America, Europe, Asia Pacific and South America. Warehouses are a critical part of the supply chain that connects food manufacturers, processors, distributors and retailers with consumers.
Americold currently pays a quarterly dividend of $0.22 per share, which equates to an annualized dividend of $0.88 per share, giving its stock a yield of approximately 3.9% at the time of writing.
Americold also has a track record of growing its dividend. Since its initial public offering in 2018, it has increased its annual dividend payment three times.
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This article These Industrial REITs Have Yields of Up to 7.7% and Dividend Growth Track Records originally appeared on Benzinga.com
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