If you're looking for a reliable source of monthly income, investing in real estate investment trusts (REITs) that pay dividends every month could be a great idea. I'd like to show you two that have yields of up to 7.2%.
Whitestone Real Estate Information Trust Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio are just a few of the rapidly expanding U.S. cities that Whitestone REIT (NYSE:WSR) owns and manages. The 55 retail malls in the portfolio have a combined gross leasable area of around five million square feet.
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As of this writing, Whitestone's stock yields approximately 4.2% due to the company's current monthly dividend payment of $0.04125 per share, which offers an annual payout of $0.495 per share.
Whitestone is known for both its high yield and its history of dividend increases. With a 3% rise in March, it is on pace to raise its dividend for the third year in a row in 2024, adding to the two years of consecutive increases.
Long-Term Capital One real estate investment trust (REIT) that focuses on healthcare and senior homes is LTC Properties (NYSE:LTC).
As of December 31, 2023, its portfolio included 202 properties spread throughout 26 states, including 124 assisted living facilities and 77 skilled nursing homes, and it has 29 operational partners.
As of this writing, LTC's stock yields approximately 7.2% due to the company's current monthly dividend payment of $0.19 per share, which amounts to $2.28 per share when annualized.
Investors should view LTC as a dependable source of income given its current monthly dividend rate has been maintained since October 2016.
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