These REITs Offer Yields Up to 7.2% and Monthly Dividends

For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. Let's check out two with yields up to 7.2%.

Whitestone REIT

Whitestone REIT WSR owns and manages a portfolio of 55 open-air retail centers containing approximately five million square feet of gross leasable area in some of the fastest growing markets in the U.S., including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.

Whitestone currently pays a monthly dividend of $0.04125 per share, equating to an annual dividend of $0.495 per share, which gives its stock a yield of about 4.2% at the time of this writing.

In addition to offering a high yield, Whitestone has a track record of raising its dividend. It has raised its dividend each of the last two years, and its 3% hike in March has it on track for 2024 to mark the third consecutive year with an increase.

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LTC Properties

LTC Properties LTC is a REIT that invests primarily in senior housing and healthcare properties. Its portfolio consists of 202 properties, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 29 operating partners as of December 31, 2023.

LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share, which gives its stock a yield of about 7.2% at the time of this writing. 

LTC has maintained its current monthly dividend rate since October 2016, which means investors should consider it a reliable source of income.

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