These REITs Yield Up to 6.3% and Are Have Been Growing Their Dividends

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.

Let's take a look at two REITs with yields up to 6.3% that have been growing their dividends in recent years.

American Assets Trust

American Assets Trust 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.

AAT currently pays a quarterly dividend of $0.335 per share, equating to an annualized rate of $1.34, which gives its stock a yield of about 6.3% at the time of this writing.

In addition to having a very high yield, AAT is becoming a dividend-growth star. It has raised its annual dividend payment for three consecutive years, and its 1.5% hike in February has it on track for 2024 to mark the fourth consecutive year with an increase.

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Americold Realty Trust

Americold Realty Trust COLD owns and/or operates 245 temperature-controlled warehouses containing approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America. Its warehouses are a crucial component of the supply chain that connects food producers, processors, distributors, and retailers to consumers.

Americold currently pays a quarterly dividend of $0.22 per share, equating to an annualized dividend of $0.88 per share, which gives its stock a yield of about 3.7% at the time of this writing. 

While Americold doesn't have a long active streak of dividend increases, it has shown a dedication to growing its dividend when it makes sense for the business. It has raised its annual dividend a total of three times since its initial public offering in 2018.

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