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Investors looking for stable, reliable income have a hard time identifying stocks that pay high dividends and perform well, because inflated dividends are often the result of underperformance and a wave of selling. But here’s a look at three real estate investment trusts (REITs) that have been undermining the competition in the past month but still offer high dividend yields a viable payday for income investors.
Modivi Industrial Inc. (NYSE:MDV) is a Reno, Nevada-based diversified commercial REIT with 3.4 million square feet in 56 three-tenant industrial and retail single-tenant properties. Tenants include Dollar General, Costco and 3M. The occupancy rate is 100%, and the weighted average lease term (WALT) is 14.3 years.
In the year On August 14, Modiv reported its second quarter results. Adjusted cash from operations (AFFO) decreased from $0.35 to $0.31 per share in the second quarter of 2022. Revenue of $11.84 million was up from $10.14 million in the second quarter of 2022. Increase in income.
Modiv has announced that it will change its corporate name to Modiv Industrial Inc.
Modiv pays a monthly dividend of $0.095830. The dividend has remained the same since February 2022. The annualized dividend yield is currently 7.72%.
Over the past four weeks, Modive has gained 20.96%.
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SL Green Real Corporation (NYSE:SLG) is a New York City-based office REIT and the largest office building lessor in New York. As of June 30, SL Green Realty held interests in 60 buildings totaling 33.1 million square feet.
Many income oriented investors like to own SL Green Realty for their monthly installments. And while analysts have predicted dividend cuts for months, SL Green Realty continues to declare and pay a monthly dividend of $0.2708. The forward FFO of $5.52 easily covers the $3.25 annual dividend at a payout ratio of 58.8%, which should keep it stable for some time. Its annual dividend yield is currently 8.04%.
On September 11, Piper Sandler analyst Alexander Goldfarb maintained an overweight position on SL Green Realty and raised his price target to $48 from $41.
Over the past four weeks, SL Green has gained 15.86 percent as office REITs continue to slowly recover from the stress they took in the spring.
Creative Industrial Properties Inc. (NYSE:IIPR) is a San Diego-based diversified/industrial REIT focused on triple-net leases and leasebacks in commercial properties with cannabis companies as the sole tenant.
As of June 30, Creative Industrial Properties held 108 properties in 19 states. The average lease length is 14.9 years. Of the properties, 91% are industrial, 3% are retail, and 6% are industrial/retail. Creative Industry has a 99.9% retention rate.
Despite its recent improved performance, on September 5, Compass Point analyst Merrill Ross downgraded Creative Industrial Properties from buy to neutral and issued a $95 price target.
Innovative Industrial Properties pays a dividend of $1.80 per quarter. The annual dividend of $7.20 currently yields 8.13%.
A recent recommendation from the Department of Health and Human Services (HHS) to reclassify cannabis as a Schedule III substance is supporting the cannabis sector across the board, and the legislative change will help industrial properties maintain excellent occupancy standards. Subsequent rent increases.
In the past month, creative industry assets have gained 7.65 percent.
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This column 3 REITs with more than 7% dividend yield and highest profit in the last month It appeared at first Benzinga.com
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