In a positive development for investors, two real estate investment trusts (REITs) 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 check out each dividend raiser to see if there's a spot for one or both in your portfolio.
UDR
UDR (NYSE:UDR) owns or has ownership interests in 60,336 apartment homes across some of the most desirable markets in the United States, including Boston, Dallas, Denver, New York City, Orlando, Philadelphia, San Francisco, Seattle, and Washington, D.C.
In its fourth quarter earnings release on February 6, UDR announced a 1.2% increase to its dividend. It now pays a quarterly dividend of $0.425 per share, equating to an annualized rate of $1.70 and giving it a yield of about 4.8% at the time of this writing.
It's also very important to note that UDR is on track for 2024 to mark the 15th consecutive year in which it has raised its annual dividend payment. This track record and its high yield make it one of the most attractive dividend stocks in the entire real estate industry.
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American Assets Trust
American Assets Trust (NYSE:AAT) owns and manages a portfolio of premier office, retail, and residential properties across major U.S. markets, including Southern California, Northern California, Washington, Oregon, Texas and Hawaii.
In its fourth quarter earnings release on February 6, AAT announced a 1.5% increase to its dividend. It now pays a quarterly dividend of $0.335 per share, equating to an annualized rate of $1.34 and giving it a yield of about 6.2% at the time of this writing.
AAT is now on track for 2024 to mark the fourth consecutive year in which it has raised its annual dividend payment.
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