Are these the best REIT dividend stocks right now?
Looking for Real Estate Investment Trusts with high dividend yields? REITs are one of the most popular assets for investors that want steady income. Discover some of the well-known REITs that pay monthly dividends below.
Top 10 REITs that pay dividends monthly
Year to Date
American Tower Corporation
Crown Castle International Corp.
Realty Income Corporation
VICI Properties Inc.
Federal Realty Investment Trust
STAG Industrial, Inc.
Agree Realty Corporation
AGNC Investment Corp.
Phillips Edison & Company
Data as of 16 August 2023. Sources: Stake, Google Finance and Seeking Alpha.
*The list of stocks mentioned is ranked by market cap. When deciding what stocks to feature, we analyse the financials, recent news, the state of the industry, and whether or not they are actively traded on Stake.
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1. American Tower Corporation ($AMT)
Market Capitalisation: US$82.9b
Stock price (as of 16/08/2023): US$177.99
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 71% / 29%
American Tower is a global leader in communication infrastructure, owning and operating cell towers and antennas. The company's investment approach centers on providing wireless and broadcast communication sites to telecommunications companies. AMT benefits from the increasing demand for data connectivity, especially with the rollout of 5G technology. As mobile networks expand and evolve, American Tower plays a crucial role in enabling seamless wireless communication.
Investors interested in AMT gain exposure to the telecommunications sector and the ongoing evolution of wireless networks. The AMT dividend payout is paid quarterly.
🆚 Which REIT dividend stock is performing better: AMT vs CCI→
2. Crown Castle International ($CCI)
Market Capitalisation: US$43.3b
Stock price (as of 16/08/2023): US$99.85
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 66% / 34%
Crown Castle is a leading provider of shared communications infrastructure, including cell towers, small cells, and fibre optic networks. The company's investment focus is on leasing space on its infrastructure to wireless carriers and technology companies. CCI is a critical enabler of wireless network expansion, particularly with the rapid development of 5G technology.
Investors interested in CCI can gain exposure to the telecommunications sector's growth and the increasing demand for robust wireless connectivity. The CCI dividend payout is paid quarterly.
3. Realty Income ($O)
Market Capitalisation: US$40.3b
Stock price (as of 16/08/2023): US$56.87
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 80% / 20%
Realty Income is renowned as a U.S. stock that pays monthly dividends, earned from a diversified portfolio of retail and commercial properties. The company targets essential, non-discretionary businesses such as convenience stores, drug stores, and supermarkets. Realty Income's investment strategy involves establishing long-term net lease agreements with tenants, who are responsible for many property expenses. This approach provides a stable stream of rental income for investors.
Individuals seeking dependable income streams and a broad-based commercial real estate portfolio may consider Realty Income as a potential addition to their investment portfolio. The Realty Income dividend payout is paid monthly.
4. VICI Properties ($VICI)
Market Capitalisation: US$30.2b
Stock price (as of 16/08/2023): US$29.81
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 77% / 23%
VICI Properties is a real estate investment trust specialising in gaming, hospitality, and entertainment properties. The company owns premier casino resorts, hotels, and entertainment venues, often partnering with leading gaming operators. VICI's strategy capitalises on the popularity of gaming and entertainment experiences.
By investing in VICI, individuals have the potential to benefit from the gaming and hospitality sector's performance and the allure of entertainment destinations. The VICI Properties dividend payout is paid quarterly.
💡Related: Discover the top REITs in Australia→
5. Federal Realty Investment Trust ($FRT)
Market Capitalisation: US$7.9b
Stock price (as of 16/08/2023): US$97.51
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 61% / 39%
Federal Realty primarily invests in high-quality retail properties located in densely populated and affluent areas. Its portfolio includes shopping centres and mixed-use properties that aim to create vibrant retail environments. FRT's strategy revolves around curating tenant mix, enhancing customer experiences, and adapting to changing retail trends. The company's emphasis on well-located, community-oriented retail spaces contributes to consistent foot traffic and stable rental income.
Investors who choose FRT may benefit from exposure to retail real estate and the potential for long-term, income-generating properties. The FRT dividend payout is paid quarterly.
🆚 Which REIT dividend stock is performing better: FRT vs O→
6. STAG Industrial ($STAG)
Market Capitalisation: US$6.3b
Stock price (as of 16/08/2023): US$35.25
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 67% / 33%
STAG Industrial specialises in industrial real estate investments. The company focuses on acquiring and operating warehouse, distribution, and light industrial properties. STAG's investment strategy aligns with the growing demand for e-commerce and logistics spaces.
By investing in properties used for the storage and distribution of goods, STAG aims to capitalise on the expansion of online retail and the increasing need for efficient supply chain infrastructure. The STAG Industrial dividend payout is paid monthly.
7. Agree Realty ($ADC)
Market Capitalisation: US$5.9b
Stock price (as of 16/08/2023): US$61.70
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 75% / 25%
Agree Realty specialises in retail properties, primarily focusing on net-leased assets. The company's investment approach involves single-tenant properties and long-term net lease agreements, where tenants cover property expenses.
ADC's strategy is geared towards generating stable rental income from essential retail businesses, providing investors with exposure to diverse retail sectors. The Agree Realty dividend payout is paid monthly.
8. AGNC Investment Corp. ($AGNC)
Market Capitalisation: US$5.7b
Stock price (as of 16/08/2023): US$9.55
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 71% / 29%
AGNC is a mortgage REIT that primarily invests in agency mortgage-backed securities (MBS). The company focuses on residential mortgage loans guaranteed by government-sponsored enterprises such as Fannie Mae and Freddie Mac. AGNC generates income from the interest rate spread between its MBS investments and the cost of its borrowings.
This strategy provides exposure to residential mortgage-backed securities and the potential for generating dividend income from interest rate differentials. The AGNC dividend payout is paid monthly.
9. Phillips Edison & Company ($PECO)
Market Capitalisation: US$4.0b
Stock price (as of 16/08/2023): US$34.68
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): NA
Phillips Edison & Company specialises in acquiring, owning, and operating grocery-anchored shopping centres. The company's focus on grocery-anchored properties reflects its strategy of targeting stable retail assets with a consistent customer base.
PECO aims to create vibrant community-centred retail spaces that cater to consumers' everyday needs and contribute to long-term rental income. The PECO dividend payout is paid monthly.
10. EPR Properties ($EPR)
Market Capitalisation: US$3.2b
Stock price (as of 16/08/2023): US$43.28
Stake Platform Bought / Sold (1 Jan 2023 - 16 Aug 2023): 78% / 22%
EPR Properties invests in experiential real estate assets within the entertainment, recreation, and education sectors. Its portfolio includes megaplex theatres, entertainment complexes, educational facilities, and recreational properties like ski resorts.
EPR aims to capitalise on the demand for experiences and entertainment, providing investors with exposure to a diverse range of property types that offer unique leisure and educational experiences. The EPR Properties dividend payout is paid monthly.
Which REIT has had the best returns?
The best-performing REIT in the last 12 months is the New York City Reit ($NYC), up +69% and over the last 5 years the best-performing U.S. REIT has been the Innovative Industrial Properties ($IIPR), up +206.20% during that period.
What Australian REITs are available to invest in?
There are dozens of Australian REITs available to invest in the ASX. Here are some of the most popular ones:
Equity REITs vs Mortgage REITs
Equity REITs own and manage physical properties like buildings, shopping centres, and apartments. They earn rental income from tenants and distribute a portion of it to investors as dividends. Mortgage REITs invest in real estate loans, such as mortgages or collateralized mortgage obligations. They make money from the interest earned on these loans and also pay dividends to investors. So, Equity REITs focus on owning properties, while Mortgage REITs focus on investing in real estate loans.
This does not constitute financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking appropriate financial or taxation advice before investing.
Stella is a markets analyst and writer with almost a decade of investing experience. With a Masters in Accounting from the University of Sydney, she specialises in financial statement analysis and financial modelling. Previously, she worked as an equity analyst at Australian finance start-up, Simply Wall St, where she took charge of the market insights newsletter sent out to over a million subscribers. At Stake, Stella has been key to producing the weekly Wrap articles and social media content.