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Real estate investment trusts (REITs) are perfect for income-seeking investors. REITs own, operate, or finance income-generating real estate, allowing individuals to invest in various real estate types without having direct ownership or management responsibilities. REITs must distribute a large percentage of their taxable income to shareholders as dividends, often resulting in hefty yields.
If you're an income-seeking investor, here are three high-yielding REITs you could load up on today.
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COPT Defense Properties
COPT Defense Properties (NYSE:CDP) owns or has ownership interests in properties leased to government agencies and defense contractors. As of June 30, its portfolio comprises 193 properties, including 24 owned through joint ventures, containing approximately 22 million square feet.
COPT currently pays a quarterly dividend of $0.295 per share, equating to an annualized dividend of $1.18 per share. At the time of this writing, this gives its stock a yield of about 4.1%.
COPT is a reliable source of income and has been growing its dividend in recent years. It has paid a quarterly dividend of at least $0.275 per share since 2012 and has raised its dividend twice since the start of 2023, with the latest being a 3.5% hike in February.
National Storage Affiliates Trust
National Storage Affiliates Trust (NYSE:NSA) is one of the largest owners and operators of self-storage properties in the United States. As of June 30, its portfolio comprises 1,052 self-storage properties containing approximately 68.8 million rentable square feet across 42 states and Puerto Rico.
National Storage currently pays a quarterly dividend of $0.56 per share, equating to an annualized dividend of $2.24 per share. At the time of this writing, this gives its stock a yield of about 5.2%.
National Storage has shown a strong dedication to growing its dividend since coming public. It has raised its annual dividend payment every year since its 2015 initial public offering, putting it on pace for 2024 to mark the ninth consecutive year with an increase.
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Urban Edge Properties
Urban Edge Properties (NYSE:UE) owns and manages retail real estate in urban communities, primarily in the Washington, D.C.-Boston corridor. As of March 31, its portfolio consists of 76 properties with approximately 17.4 million square feet of gross leasable area.