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Real estate investment trusts (REITs) offer investors a compelling opportunity. 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 also required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them a popular choice for investors seeking income.
If you want exposure to real estate or are an income-seeking investor, here are three quality REITs you could buy today.
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Camden Property Trust
Camden Property Trust (NYSE:CPT) is a leading owner and operator of apartment communities. As of March 31, its portfolio consists of 171 multifamily apartment communities containing 58,061 apartment homes across 15 major U.S. markets including Atlanta, Austin, Dallas, Denver, Orlando, Phoenix, San Diego and Tampa. It also has four development properties containing 1,166 apartment homes.
Camden currently pays a quarterly dividend of $1.03 per share, equating to an annualized dividend of $4.12 per share, which gives its stock a yield of about 3.6% at the time of this writing.
Camden has also shown a dedication to growing its dividend in recent years. It has raised its annual dividend payment for two consecutive years, and its 3% hike in February has it on pace for 2024 to mark the third consecutive year with an increase.
Alexander’s
Alexander’s (NYSE:ALX) leases, manages, develops, and redevelops properties in New York which it does with its partner Vornado Realty Trust. Alexander’s portfolio consists of five properties in greater New York City including 731 Lexington Avenue, the Rego Center complex, and The Alexander apartment tower.
Alexander’s currently pays a quarterly dividend of $4.50 per share, equating to an annualized dividend of $18.00 per share, which gives its stock a yield of about 7.4% at the time of this writing.
While Alexander’s is not a REIT to buy for dividend growth, it is a consistent dividend payer. It has maintained its current annual dividend rate since 2018, making it a very reliable source of income.
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Prologis
Prologis Inc. (NYSE:PLD) is one of the world’s largest owners, developers, and managers of industrial properties including distribution facilities, logistics centers, and warehouses. As of June 30, its portfolio consists of ownership interests in more than 5,500 buildings across four continents containing approximately 1.2 billion square feet. It counts Amazon, Home Depot, and FedEx as its top three customers.
Prologis currently pays a quarterly dividend of $0.96 per share, equating to $3.84 per share annually, which gives its stock a yield of about 3% at the time of this writing.
While Prologis may have the lowest yield of the three REITs discussed, it has the most impressive track record of dividend growth. It has raised its annual dividend payment for 10 consecutive years, including a compound annual growth rate of 13% over the last five years. Its 10% hike in February has it on track for 2024 to mark the 11th consecutive year with an increase.
These REITs Aren’t The Only Game In Town For High Yield
The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through REITs. The Arrived Homes Private Credit Fund, 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 With Yields Up to 7.4% to Load Up On In August originally appeared on Benzinga.com
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