Earn a 5.2% Yield From This Major Retail Landlord
The TJX Companies Inc. (NYSE:TJX) is one the world's leading off-price retailers and the parent company of TJ Maxx, Marshalls, HomeGoods, Sierra, and Homesense.
TJX has provided its early investors with incredible returns, but dividend and income investors have been left on the sidelines as its stock yields just 1.4% at the time of this writing.
But, did you know you could earn a 5.2% yield by investing in one of TJX's largest landlords?
Let's check it out.
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Agree Realty Corporation
Agree Realty Corporation (NYSE:ADC) owns and manages a portfolio of more than 2,100 properties across 49 states containing approximately 44 million square feet of gross leasable space. It counts world-class retailers such as TJX, Dollar General, Home Depot, Lowe's, Walmart, McDonald's, Starbucks, CVS, Walmart, ULTA, Target, and Costco as tenants.
Agree Realty lists TJX as its sixth largest tennant in its most recent investor presentation, equating to approximately 3.1% of its annualized base rent.
So, by owning Agree Realty, you can generate monthly income that is partially attributable to TJX and its family of brands.
Agree Realty currently pays a monthly dividend of $0.247 per share, equating to an annualized dividend of $2.964 per share and giving its stock a yield of about 5.2% today.
In addition to boasting a high dividend yield, Agree Realty is a dividend-growth star. It has raised its annual dividend payment for 11 consecutive years, and it's already on pace for 2024 to mark the 12th consecutive year with an increase.
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