Buy these 3 stocks yielding up to 6.6% for income and dividend growth right now – surprisingly not on many’s radar

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Real estate investment trusts (REITs) offer a compelling opportunity for investors looking for income, but they are often overlooked. REITs own, operate or finance income-producing real estate, allowing individuals to invest in various types of real estate without direct ownership or management responsibilities.

REITs must distribute a large percentage of taxable income to shareholders through dividends, which often results in high yields. If you’re an investor looking for income, here are three high-quality REITs with a track record of dividend growth that you could invest in today.

Don’t miss:

CubeSmart

CubeSmart (NYSE:CUBE) is the third largest owner and operator of self-storage properties in the United States. As of June 30, its portfolio included 1,494 self-storage properties in 185 markets in 40 states and the District of Columbia.

CubeSmart currently pays a quarterly dividend of $0.51 per share, which equates to an annualized dividend of $2.04 per share, giving it a yield of about 3.8%.

In addition to a high yield, CubeSmart has an extensive history of dividend growth. It has increased its annual dividend payment for 14 consecutive years, with a dividend growth rate of 62% over the past five years.

EastGroup Properties, Inc.

EastGroup properties (NYSE:EGP) is a leading owner and manager of industrial properties in the United States. As of June 30, its portfolio comprised approximately 60.2 million square feet of prime distribution facilities in major Sunbelt markets across 12 states.

EastGroup currently pays a quarterly dividend of $1.40 per share, which equates to an annual dividend of $5.60 per share, giving it a yield of about 3% at the time of writing.

EastGroup’s most recent dividend increase was 10% last month. In the press release, the company noted that it has paid dividends for 32 consecutive years, with 29 increases and no decreases, including increases in each of the last 13 years.

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Universal Health Realty Income Trust

Universal Health Realty Income Trust (NYSE:UHT) owns and manages a portfolio of health care and human services facilities in the U.S. As of August 1, its portfolio comprised 26 real estate investments or commitments located in 21 states, including acute care hospitals, health care behavioral. facilities, rehabilitation hospitals, subacute care facilities, surgery centers, child care centers and medical office buildings.

UHT currently pays a quarterly dividend of $0.73 per share, which equates to an annualized dividend of $2.92 per share, giving it a yield of about 6.4% at the time of writing.

In addition to having the highest yielding REIT discussed here, UHT has the longest dividend growth streak. It has raised its annual dividend payment for 37 consecutive years, with a 0.7% increase in June, on track for 2024 to mark its 38th 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 Buy These 3 Stocks Yielding Up to 6.6% for Income and Dividend Growth Right Now – Surprisingly, It’s Not on Many’s Radar originally appeared on Benzinga.com