These REITs Just Raised Their Dividends By Up to 6.7%

In a positive development for investors, two real estate investment trusts (REITs) have recently announced dividend increases. This signals potential opportunities in the real estate market, as these companies strive to deliver enhanced returns to their shareholders. Let’s delve into the details of these dividend boosts and the new yields for those stocks today.

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AvalonBay Communities

AvalonBay Communities AVB owns or has ownership interests in 299 apartment communities containing 90,669 apartment homes across 12 states and the District of Columbia, including 18 communities under development. Its major markets include Boston, Charlotte, Denver, New York City, San Francisco, and Seattle.

In its fourth quarter earnings release on January 31, AvalonBay announced a 3% increase to its dividend. It now pays a quarterly dividend of $1.70 per share, equating to an annualized dividend of $6.80 per share and giving it a yield of about 3.9% at today's levels. 

AvalonBay is now on pace for 2024 to mark the 11th time it has raised its annual dividend since 2011.

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Equity LifeStyle Properties

Equity LifeStyle Properties Inc. ELS owns or has ownership interests in 451 manufactured home communities, RV resorts, and campgrounds across North America consisting of 172,465 sites.

In its fourth quarter earnings release on January 29, Equity LifeStyle announced a 6.7% increase to its dividend. It now pays a quarterly dividend of $0.4775 per share, equating to an annualized dividend of $1.91 per share and giving it a yield of about 2.8% at today's levels.

Equity LifeStyle is now on pace for 2024 to mark the 20th consecutive year in which it has raised its annual dividend, making it one of the most attractive high-yield and dividend-growth stocks in the entire REIT industry.

Read Next:

• Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000. 
• Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Dara Khosrowshahi gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.

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