Retail real estate investment trusts (REITs) specialize in owning and managing retail properties, including shopping centers, malls, strip malls, and other retail spaces. Retail REITs generate revenue through leasing space to retailers, making them a popular choice for investors seeking income.
As is the case with all REITs, retail REITs are required to distribute a significant portion of their income to shareholders in the form of dividends, making them a popular choice for investors seeking income.
Here are two retail REITs with yields up to 5.5% that you could buy today.
Simon Property Group, Inc.
Simon currently pays a quarterly dividend of $1.90 per share, equating to an annualized dividend of $7.60 per share and giving its stock a yield of about 5.5% at the time of this writing. The company has also raised its dividend each of the last two years, and its hike in August 2023 has it on pace for 2024 to mark the third consecutive year with an increase.
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Tanger Inc.
Tanger currently pays a quarterly dividend of $0.26 per share, equating to an annualized dividend of $1.04 per share and giving its stock a yield of about 3.8% at the time of this writing. The company has also raised its annual dividend each of the last two years, and its 6.1% hike in October 2023 has it on pace for 2024 to mark the third consecutive year with an increase.
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