2 Top Retail REITs With Yields Of 4% Or More To Buy in June
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 yields up to 4.5% that you could buy today.
Kite Realty Group Trust
Kite Realty Group Trust (NYSE:KRG) owns or has ownership interests in a portfolio of 180 open-air shopping centers and mixed-use assets containing approximately 28 million square feet. Its portfolio is situated across major markets in the Sun Belt region, including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Miami, Orlando, Phoenix, and San Antonio.
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Kite Realty currently pays a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 per share and giving its stock a yield of about 4.5% at the time of this writing.
Kite Realty is also an up-and-coming dividend-growth star. It has raised its annual dividend payment each of the last three years, and its 4.2% hike in October has it on track for 2024 to mark the fourth consecutive year with an increase.
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Tanger Inc.
Tanger (NYSE:SKT) owns and operates a portfolio of 38 outlet centers and one open-air lifestyle center consisting of over 15 million square feet across tourist destinations and other high-traffic markets in 20 U.S. states and Canada. Its outlet centers have over 3,000 stores operated by more than 700 brand name companies, including Nike, Ulta, Lululemon, Dick's, Disney, and Crocs.
Tanger currently pays a quarterly dividend of $0.275 per share, equating to an annualized dividend of $1.10 per share, which gives its stock a yield of about 4% at the time of this writing.
In addition to being a high yielder, Tanger is an up-and-coming dividend-growth star. It has raised its annual dividend for two consecutive years, and its two hikes in the last eight months has it on pace for 2024 to mark the third consecutive year with an increase.
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