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Real estate investment trusts (REITs) offer compelling opportunities for investors looking to supplement their monthly income. REITs own, operate, or finance income-generating real estate, allowing individuals to invest in various real estate types without having direct ownership or management responsibilities.
REITs must also distribute a large percentage of their taxable income to shareholders as dividends, often resulting in hefty yields.
If you're an income-seeking investor, here are three high-yielding REITs that pay monthly dividends.
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SL Green Realty
SL Green Realty Corp. (NYSE:SLG) is Manhattan's largest office landlord. As of June 30, its portfolio consists of ownership interests in 55 buildings totaling 31.8 million square feet, including One Vanderbilt Avenue, One Madison Avenue, 100 Park Avenue, and five Times Square.
SL Green currently pays a monthly dividend of $0.25 per share, equating to an annualized dividend of $3.00 per share. At the time of this writing, this gives its stock a yield of about 4.9%.
It's important for investors to know that SL Green's dividend has varied over the years. Still, its management team has stated that the company is focused on retained cash flow and distributing 100% of its taxable income to shareholders. So, while its dividend may vary, investors can count on it for a steady income stream.
EPR Properties
EPR Properties (NYSE:EPR) is a leading owner and manager of experiential real estate, including movie theaters, golf ranges, water parks, amusement parks, fitness centers, private schools, and early childhood education centers. As of June 30, its portfolio contains 354 properties, including 161 movie theaters.
EPR currently pays a monthly dividend of $0.285 per share, equating to an annualized dividend of $3.42 per share, which gives its stock a yield of about 7.8% at the time of this writing.
In addition to offering a very high yield, EPR has been growing its dividend. It has raised its annual dividend payment each of the last two years, and its 3.6% hike in February has it on track for 2024 to mark the third consecutive year with an increase.
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Apple Hospitality
Apple Hospitality (NYSE:APLE) owns and manages a portfolio of upscale, rooms-focused hotels across the United States. As of June 21, its portfolio consists of 224 hotels with 30,066 guest rooms across 87 markets in 37 states, of which 16 management companies operate.
Apple Hospitality currently pays a monthly dividend of $0.08 per share, equating to an annualized dividend of $0.96 per share. At the time of this writing, this gives its stock a yield of about 6.8%.
It's worth noting that Apple Hospitality suspended its dividend in March 2020 due to the COVID-19 pandemic since its operations were heavily impacted by travel bans. However, it reinstated monthly distributions in March 2022 when operations normalized. With the pandemic behind us, it can again be viewed as a reliable source of monthly income.
Can You Do Better Than These REITs?
The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through REITs... Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.
For example, the Jeff Bezos-backed investment platform just launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. The best part? Unlike other private credit funds, this one has a minimum investment of only $100.
Don't miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga's favorite high-yield offerings.
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This article Buy These 3 REITs Yielding Up To 7.8% For Passive Monthly Income originally appeared on Benzinga.com