These Top Stocks Just Raised Their Dividends Up to 4.2%, Should You Buy Now?

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In a positive development for investors, two high-quality real estate investment trusts (REITs) announced dividend increases last week. Investors should take note of REITs that increase their dividends, as this usually indicates strong financial health and stable cash flow, which are key to finding stocks that provide reliable long-term income streams.

Let’s examine each REIT to see if there is room in the portfolio for one or both.

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VICI properties

VICI properties (NYSE:VICI) owns and manages gaming, hospitality and entertainment properties in North America. As of June 30, its portfolio included 93 properties with approximately 127 million square feet, approximately 60,300 hotel rooms and more than 500 restaurants, bars, nightclubs and sportsbooks. Its portfolio includes casinos, hotels, golf courses, bowling alleys and racetracks.

On September 5, VICI increased its dividend by 4.2%. The company now pays a quarterly dividend of $0.4325 per share, which equates to $1.73 per share annually and gives it a yield of about 5.2% at the time of writing.

The dividend increase adds to VICI’s impressive track record of dividend growth. This marks the seventh consecutive annual dividend increase since the company’s initial public offering in February 2018.

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Real estate income

Real estate income (NYSE:O) is the seventh largest REIT in the world. As of June 30, its portfolio comprised 15,450 properties with approximately 335 million square feet, leased to more than 1,550 clients in 90 industries.

The story continues

On September 10, Realty Income raised its dividend by 0.2%. The company now pays a monthly dividend of $0.2635 per share, which equates to an annual dividend of $3.162 per share and gives it a yield of about 5.1% at the time of writing.

This marked the 108th consecutive quarter that Realty Income has increased its dividend. Overall, the company has raised its dividend for 29 consecutive years, and its recent increases are on track for 2024 to mark its 30th consecutive year of an increase.

Better returns than some REITs?

The current high interest rate environment has created an incredible opportunity for income investors to earn massive returns, but not through publicly traded REITs.

Arrived Homes, the investment platform backed by Jeff Bezos, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target net annual return of 7% to 9% paid investors monthly. It paid 8.1% in July. The best part? Unlike other private credit funds, it has a minimum investment of only $100.

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This article These top stocks just raised their dividends by as much as 4.2%, should you buy now? originally appeared on Benzinga.com