In a positive development for investors, two real estate investment trusts (REITs) recently announced dividend increases. This signals potential opportunities within the actual estate market, as these corporations strive to deliver enhanced returns to their shareholders.
Let’s try each dividend raiser to see if there’s a spot for one or each in your portfolio.
Whitestone REIT
Whitestone REIT (NYSE:WSR) owns and manages a portfolio of open-air, retail centers in plenty of the fastest growing markets inside the U.S., including Phoenix, Austin, Dallas-Fort Price, Houston, and San Antonio. As of its most recent investor presentation, its portfolio consists of 55 properties totaling roughly 5.0 million square feet of gross leasable area.
On March 5, Whitestone announced a 3% increase to its annual dividend. The company will now pay a monthly dividend of $0.04125 per share, equating to an annual dividend of $0.495 per share and giving its stock a yield of about 4.15% on the time of this writing.
It is crucial to note that this dividend increase puts Whitestone on target for 2024 to mark the third consecutive yr by which it has raised its annual dividend payment following a reduction in its dividend in 2020 consequently of the Covid-19 pandemic.
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EPR Properties
EPR Properties (NYSE:EPR) is a primary owner and manager of experiential real estate. Its portfolio currently consists of 359 entertainment, recreation, education, and leisure properties, including movie theaters, golf ranges, waterparks, amusement parks, fitness centers, private schools, and early childhood education centers.
In its fourth-quarter earnings release on February 28, EPR announced a 3.6% increase to its monthly dividend. The company now pays a monthly dividend of $0.285 per share, equating to an annualized dividend of $3.42 per share and giving its stock a yield of about 8.3% on the time of this writing.
Like Whitestone, EPR faced issues through the Covid-19 pandemic. Somewhat than cutting its dividend, EPR suspended it for a transient time period. Nevertheless, it’s now back to normal operations, and is on target for 2024 to mark the third consecutive yr by which it has raised its annual dividend payment.
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This text These Monthly Income Stocks Just Raised Their Dividends and Now Have Yields As much as 8.3% originally appeared on Benzinga.com
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