3 Top Stocks with Proven Track Records of Dividend Growth to Buy in October for Reliable Income (UMH, GTY, REXR)

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3 Top Stocks with Proven Track Records of Dividend Growth to Buy in October for Reliable Income (UMH, GTY, REXR)
3 Top Stocks with Proven Track Records of Dividend Growth to Buy in October for Reliable Income (UMH, GTY, REXR)

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If you’re looking for a reliable income stream, dividend stocks with proven track records of dividend growth are a smart choice. Three real estate investment trusts (REITs) stand out today.

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 high yields.

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Let's look at each of these REITs to see which would fit best in your portfolio.

UMH Properties

UMH Properties Inc. (NYSE:UMH) owns and manages manufactured home communities across 11 states. As of June 30, its portfolio comprised 136 communities containing approximately 25,800 developed home sites.

According to company filings from October 2024, UMH pays a quarterly dividend of $0.215 per share, which results in an annualized dividend of $0.86 per share and gives its stock a 4.6% yield at the time of this writing.

UMH has been a steady source of dividend growth in recent years. It has raised its annual dividend payment for three consecutive years and its 4.9% hike in April has it on track for 2024 to mark the fourth consecutive year with an increase.

Getty Realty

Getty Realty (NYSE:GTY) is one of the nation's largest owners and managers of free-standing convenience and automotive retail properties. As of June 30, its portfolio comprised 1,124 properties across 42 states.

According to company filings from July 2024, Getty Realty pays a quarterly dividend of $0.45 per share, which results in an annualized dividend of $1.80 per share and gives its stock a 5.8% yield at this time.

Getty Realty also has an impressive track record of dividend growth. It has raised its annual dividend payment for 11 consecutive years and its 4.7% hike last October has it on track for 2024 to mark the 12th consecutive year with an increase. The company traditionally raises its dividend in October, so investors could be rewarded with another increase later this month.