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In a positive development for investors, two high-quality real estate investment trusts (REITs) announced dividend increases last week. Investors should pay attention to REITs that increase their dividends, as this typically indicates strong financial health and steady cash flow, which is essential for finding stocks that will provide reliable income streams over the long term.
Let’s take a closer look at each REIT to see if there’s room for one or both in your portfolio.
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VICI properties
VICI properties (NYSE:VICI) owns and manages gaming, hospitality and entertainment properties in North America. As of June 30, the portfolio consisted of 93 properties with approximately 127 million square feet, approximately 60,300 hotel rooms and more than 500 restaurants, bars, nightclubs and sportsbooks. The portfolio includes casinos, hotels, golf courses, bowling alleys and racetracks.
On September 5, VICI raised its dividend by 4.2%. The company now pays a quarterly dividend of $0.4325 per share, which equates to $1.73 per share per year and yields approximately 5.2% at the time of writing.
The dividend increase adds to VICI’s impressive track record of dividend growth. This marks the seventh consecutive annual dividend increase since the company’s IPO in February 2018.
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Real estate income
Real estate income (NYSE:O) is the world’s seventh-largest global REIT. As of June 30, the company’s portfolio consisted of 15,450 properties totaling approximately 335 million square feet leased to more than 1,550 clients across 90 industries.
On September 10, Realty Income raised its dividend by 0.2%. The company now pays a monthly dividend of $0.2635 per share, which equates to an annual dividend of $3.162 per share and a yield of approximately 5.1% at the time of writing.
This marked the 108th consecutive quarter that Realty Income has increased its dividend. Overall, the company has raised its dividend for 29 consecutive years, and its recent increases put it on track to mark its 30th consecutive year of increases by 2024.
Better returns than some REITs?
Today’s high interest rates offer income-seeking investors a great opportunity to earn huge returns, but not through publicly traded REITs.
Arrived Homes, the Jeff Bezos-backed investment platform, has launched its Private Credit Fund, which offers access to a pool of short-term loans backed by residential real estate with a target annual net return of 7% to 9%, distributed monthly to investors. In July, it distributed 8.1%. The best part? Unlike other private credit funds, this one has a minimum investment of just $100.
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This article These Top Stocks Just Raised Their Dividends By Up To 4.2%, Should You Buy Now? originally appeared on Benzinga.com
