Top Monthly Dividend REITs for Passive Income in 2024
Investing in Real Estate Investment Trusts (REITs) is a potent strategy for earning passive income in 2024. The golden trio of REITs to consider for this purpose includes Stag Industrial, Agree Realty, and Realty Income.
Stag Industrial: The Warehouse Specialist
Stag Industrial specializes in managing warehouses and light manufacturing facilities. Its impressive dividend yield stands at 3.8%, making it an attractive prospect for potential investors. The company’s history of consistently increasing dividends stems from a rise in rental income and the expansion of its real estate portfolio.
Agree Realty: Excelling in Recession-Resistant Sectors
Agree Realty is a retail REIT focusing on single-tenant properties in recession-resistant sectors. The company boasts a dividend yield of 4.7%, surpassing many of its competitors. Agree Realty’s growth strategy revolves around portfolio expansion and new development projects, leading to a steady growth in dividends.
Realty Income: The Diversified Performer
Realty Income owns a versatile portfolio of retail, industrial, gaming, and other properties. It offers a dividend yield of 5.3%, the highest among the three. The company is on a growth trajectory, diversifying and expanding through acquisitions. Realty Income’s dividend increase is a regular phenomenon, making it a top choice for investors.
The blend of steady rental income and the potential for dividend growth makes these REITs ideal for investors seeking a growing monthly income stream. These companies’ strategic focus on sectors that perform well during economic downturns further enhances their appeal. As such, investing in these monthly dividend REITs could be the key to unlocking a consistent and growing passive income in 2024.