These Monthly Income REITs Have Yields Up to 8%
For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. In this article, we unravel two REITs that pay monthly dividends and have yields up to 8%.
Realty Income
Realty Income (NYSE:O) owns and operates a portfolio of more than 13,250 commercial properties, making it the 7th largest global REIT. It boasts a world-class tenant base, including BJ's Wholesale Club, Dollar General, Dollar Tree, Walgreens, Walmart, and Wynn Resorts.
Realty Income currently pays a monthly dividend of $0.2565, equating to an annualized dividend of $3.078 per share and giving its stock a yield of about 5.9% at today's levels.
On top of its high yield, Realty Income is a dividend aristocrat. It has raised its annual dividend every year since 1994, meaning 2024 will mark the 30th consecutive year in which it has raised its annual dividend payment.
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EPR Properties
EPR Properties (NYSE:EPR) is a leading diversified experiential net lease REIT. It owns and manages a portfolio 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.
EPR currently pays a monthly dividend of $0.275 per share, equating to an annualized dividend of $3.30 per share and giving its stock a yield of about 8% at today's levels.
EPR had an impressive track record of dividend growth up until the Covid-19 pandemic forced it to suspend its dividend, but with operations back to normal, investors should consider EPR a reliable source of monthly income that will likely grow in the years ahead.
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