Yahoo Finance These Top REITs Yield Up to 6%
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 from different industries that you could buy today.
NexPoint Residential Trust, Inc.
NexPoint Residential Trust (NYSE:NXRT) owns 39 multifamily properties consisting of 14,485 units across 11 markets in seven Southeastern and Southwestern states, including Charlotte, Dallas-Fort Worth, Houston, Las Vegas, Orlando, Phoenix, Raleigh, and Tampa.
NexPoint currently pays a quarterly dividend of $0.46242 per share, equating to an annualized dividend of about $1.85 per share and giving its stock a yield of about 6% at the time of this writing.
In addition to having a high yield, NexPoint is a dividend-growth star. It has raised its annual dividend payment for eight consecutive years, and its 10.1% hike last October has it on track for 2024 to mark the ninth consecutive year with an increase.
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Plymouth Industrial REIT
Plymouth Industrial REIT (NYSE:PLYM) owns, operates, and manages a portfolio of 211 single and multi-tenant industrial properties totaling over 34 million square feet. Nearly all of its properties reside inside the "Golden Triangle" region of the United States, which contains over 70% of the U.S. population.
Plymouth currently pays a quarterly dividend of $0.24 per share, equating to an annualized dividend of $0.96 per share and giving its stock a yield of about 4.4% at the time of this writing.
Plymouth has also raised its annual dividend payment each of the last three years, and its 6.7% hike last month has it on track for 2024 to mark the fourth consecutive year with an increase.
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