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.
American Homes 4 Rent
On February 21, American Homes 4 Rent announced an 18% increase to its quarterly dividend. It now pays a quarterly dividend of $0.26 per share, equating to an annualized rate of $1.04 per share and giving its stock a yield of about 3% at the time of this writing.
American Homes 4 Rent is now on track for 2024 to mark the fourth consecutive year in which it has raised its annual dividend payment, making it a quality dividend-growth stock.
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Plymouth Industrial REIT
In its fourth-quarter earnings release on February 21, Plymouth announced a 6.7% increase to its quarterly dividend. It now pays a quarterly dividend of $0.24 per share, equating to an annualized rate of $0.96 per share and giving its stock a yield of about 4.4% at the time of this writing.
Plymouth is now on track for 2024 to mark the fourth consecutive year in which it has raised its annual dividend payment, making it qualify as both a high-yield and dividend-growth play.
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