Buy These 3 REITs For Yields Of 3-6% And Dividend Growth

Joey Solitro

Mon, Aug 12, 2024, 4:00 AM 4 min read

Real estate investment trusts (REITs) offer compelling opportunities for investors seeking a reliable income stream. 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 through dividends, often resulting in high yields.

If you're an income-seeking investor, here are three high-yielding REITs with track records of dividend growth that you could load up on today.

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Phillips Edison & Company, Inc.

Phillips Edison & Company (NASDAQ:PECO) is a leading owner and operator of grocery-anchored neighborhood shopping centers in the United States. As of June 30, its portfolio comprises 286 properties containing approximately 32.6 million square feet of gross leasable area across 31 states.

Phillips Edison currently pays a monthly distribution of $0.0975 per share, equating to an annualized distribution of $1.17 per share. At the time of this writing, this gives its stock a yield of about 3.4%.

Phillips Edison has been dedicated to growing its dividend since coming public. It has raised its annual distribution every year since its initial public offering in 2021, so its 4.5% hike in September has it on track for 2024 to mark the third consecutive year with an increase.

LXP Industrial Trust

LXP Industrial Trust (NYSE:LXP) is a leading owner and manager of industrial properties in the United States. As of June 30, its portfolio comprises 117 warehouse and distribution properties containing approximately 58.2 million square feet. Its properties are located across Sunbelt and Lower Midwest growth markets, including Atlanta, Chicago, Dallas-Fort Worth, Houston, Memphis, and Phoenix.

LXP currently pays a quarterly dividend of $0.13 per share, equating to an annualized dividend of $0.52 per share. At the time of this writing, this gives its stock a yield of about 5.3%.

In addition to its high yield, LXP offers investors dividend growth. It has raised its annual dividend payment each of the last four years, and its 4% hike in October has it on track for 2024 to mark the fifth consecutive year with an increase.

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Public Storage

Public Storage (NYSE:PSA) is the largest owner and operator of self-storage facilities in the United States. As of June 30, its portfolio consists of ownership interests in 3,049 self-storage properties containing approximately 219 million net rentable square feet across 40 states. It also owns a 35% interest in Shurgard Self Storage Limited, which owns 281 self-storage facilities containing approximately 16 million net rentable square feet across seven Western European nations.

Public Storage currently pays a quarterly dividend of $3.00 per share, equating to an annualized dividend of $12.00 per share, which gives its stock a yield of about 3.8% at the time of this writing.

While Public Storage does not have a long streak of annual dividend increases, it has been a reliable source of dividend growth. It has raised its dividend 12 times since 2007 and paid a special $13.15 per share in 2022.

Looking For Higher-Yield Opportunities?

The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks... 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 instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000. Benzinga Readers: Earn a 1% return boost on your first EquityMultiple investment when you sign up here (accredited investors only).

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.

This article Buy These 3 REITs For Yields Of 3-6% And Dividend Growth originally appeared on Benzinga.com

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