Top dividend stocks in October for retirees looking for stable monthly income
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Real estate investment trusts (REITs) offer an attractive opportunity for investors looking to supplement their monthly income. REITs own, operate, or finance income-generating properties, allowing individuals to invest in many types of real estate without direct ownership or management responsibility.
REITs are also required to distribute a large portion of their taxable income to shareholders as dividends, often offering high yields.
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If you’re an income-seeking investor, here are three high-yield REITs that pay monthly dividends.
Whitestone REIT
Whitestone REIT (NYSE:WSR) owns and manages a portfolio of outdoor retail centers. As of June 30, the company’s portfolio consisted of 57 properties containing approximately 5.1 million square feet of gross leasable area. The company’s properties are located in some of the fastest growing markets in the United States, including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Whitestone pays a monthly dividend of $0.04125 per share, which equates to an annualized dividend of $0.495 per share, resulting in a stock yield of approximately 3.7% at the time of writing.
Whitestone also provides shareholders with increased dividends. The company has increased its annual dividend for two years in a row, and the 3% increase in March marks the third consecutive year of dividend increases, on pace for 2024.
Ugly Real Estate Co., Ltd.
Agree Realty Corporation (NYSE:ADC) owns and manages a portfolio of retail properties, including community shopping centers, warehouse clubs, convenience stores, quick service restaurants, and automobile dealerships. As of June 30, the company’s portfolio consisted of 2,202 properties with approximately 46 million square feet.
Agree Realty pays a monthly dividend of $0.25 per share, which equates to an annual dividend of $3.00 per share, giving the stock a yield of approximately 4.05% at the time of writing.
Like Whitestone, Ugly Realty is also keen to increase its dividend. The company has increased its annual dividend for 11 consecutive years, and with recent dividend increases, including a 2.9% increase in April, it is on pace to increase its dividend for the 12th consecutive year in 2024.
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real estate income
Realty Income (NYSE:O) is the seventh largest REIT in the world by market capitalization. As of June 30, the company’s portfolio consisted of 15,450 properties totaling approximately 335 million square feet.
Realty Income pays a monthly dividend of $0.2635 per share, which equates to an annual dividend of $3.162 per share, giving the stock a current yield of approximately 5.1%.
In addition to offering high yields, real estate income is one of the best sources of dividend growth in the REIT industry. The company has increased its annual dividend for 29 consecutive years. Recent rate hikes, including a 0.2% increase in September, are expected to mark the 30th consecutive year of increases in 2024.
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This article: October’s Best Dividend Stocks for Retirees Looking for a Steady Monthly Income originally appeared on Benzinga.com
