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Real estate investment trusts (REITs) offer a compelling opportunity for income-seeking investors. REITs own, operate, or finance income-generating real estate, allowing individuals to invest in various types of real estate without having direct ownership or management responsibilities. REITs are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, which often results in hefty yields.
If you’re an income-seeking investor, here are three high-yielding REITs that pay dividends on a monthly basis that you could buy today.
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LTC Properties
LTC Properties (NYSE:LTC) is a REIT that invests primarily in senior housing and healthcare properties in the United States. As of June 30, its portfolio consists of 194 properties, including 115 assisted living facilities and 78 skilled nursing centers across 26 states.
LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share. At the time of this writing, this gives its stock a yield of about 6.4%.
In addition to being a high yielder, LTC is a reliable source of income. It has maintained its current monthly dividend rate since October 2016 and its consistent cash flow and conservative payout ratio should allow it to continue to do so going forward.
Agree Realty Corporation
Agree Realty Corporation (NYSE:ADC) is a leading owner and manager of retail properties in the United States. As of June 30, its portfolio consists of 2,202 properties containing approximately 45.8 million square feet in 49 states. Its largest tenants include Walmart, Tractor Supply, Dollar General, Best Buy, and CVS.
Agree Realty currently pays a monthly dividend of $0.25 per share, equating to an annualized dividend of $3 per share. At the time of this writing, this gives its stock a yield of about 4.2%.
In addition to offering a high yield, Agree Realty offers dividend growth. It has raised its annual dividend payment for 11 consecutive years, including a compound annualized growth rate of 5.7% over the past 10 years. Recent hikes, including its 2.9% increase in April, have it on track for 2024 to mark the 12th consecutive year with an increase.
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Whitestone REIT
Whitestone REIT (NYSE:WSR) owns and manages open-air retail centers in the United States. As of June 30, its portfolio consists of 57 properties containing approximately 5.1 million square feet of gross leasable area. Its properties are located in some of the fastest-growing markets in the U.S.: Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Whitestone currently pays a monthly dividend of $0.04125 per share, equating to an annualized dividend of $0.495 per share, which gives its stock a yield of about 3.7% at the time of this writing.
Like Agree Realty, Whitestone has been growing its dividend. It has raised its annual dividend each of the last two years, and its 3% hike in March has it on track for 2024 to mark the third consecutive year with an increase.
REITs Aren’t The Only Option For High Yields
The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through REITs… Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.
For example, the Jeff Bezos-backed investment platform just launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. The best part? Unlike other private credit funds, this one has a minimum investment of only $100.
Don’t miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga’s favorite high-yield offerings.
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This article 3 REITs Yielding Up to 6.4% to Buy for Monthly Income originally appeared on Benzinga.com
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