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Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let’s take a look at two REITs with yield up to 8.3% that have been growing their dividends in recent years.
EPR Properties
EPR Properties (NYSE:EPR) is a leading owner and manager of experiential real estate. Its portfolio currently consists of 358 entertainment, recreation, education, and leisure properties, including movie theaters, golf ranges, waterparks, amusement parks, fitness centers, private schools, and early childhood education centers.
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EPR Properties currently pays a monthly dividend of $0.285 per share, equating to an annualized dividend of $3.42 per share, which gives its stock a yield of about 8.3% at the time of this writing.
It’s important to note that EPR had an extensive streak of annual dividend increases prior to the pandemic. Due to the closure of many of its properties during the pandemic, EPR suspended its dividend. However, with operations back to normal, the company is on pace for 2024 to mark the third consecutive year in which it has raised its annual dividend payment, which could be the start to another long streak.
Innovative Industrial Properties
Innovative Industrial Properties Inc. (NYSE:IIPR) acquires, owns, and manages specialized properties leased to cannabis companies. Its portfolio consists of 108 properties across 19 U.S. states, including both industrial and retail properties, totaling approximately 8.9 million square feet.
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Innovative Industrial Properties currently pays a quarterly dividend of $1.90 per share, equating to an annualized dividend of $7.60 per share, which gives its stock a yield of about 7% at the time of this writing.
Innovative Industrial Properties is also a dividend-growth superstar. It has raised its annual dividend payment each year since its initial public offering in 2016, and its recent hikes, including its 4.4% increase in June, has it on pace for 2024 to mark the 8th consecutive year with an increase.
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.
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 These REITs Yield 7% Or More With Track Records Of Dividend Growth originally appeared on Benzinga.com
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