3 Income REITs to Buy in February
Crown Castle sees 7% to 8% annual dividend growth over the coming years.
Digital Realty has increased its payout in each of the last 16 years.
SL Green has boosted its high-yield dividend every year for more than a decade.
Real estate investment trusts (REITs) allow anyone to own a stake in income-producing real estate. This means they can be great for generating passive income. Currently, the average dividend yield across the REIT sector is 2.6%, more than double the 1.2% yield of stocks in the S&P 500 .
Three REITs that stand out for their income-generating capabilities are Crown Castle International ( NYSE:CCI ), Digital Realty Trust ( NYSE:DLR ), and SL Green Realty ( NYSE:SLG ). With shares of all three selling off along with the broader stock market last month, they look like great buys this February. Image source: Getty Images. 1. Crown Castle: Connected to a powerful growth trend
Shares of Crown Castle stumbled out of the gate in 2021, declining by more than 12% in January. That sell-off helped push its dividend yield up to 3.3% in early February.
That slump comes even though the infrastructure REIT reported strong quarterly results last month. Crown Castle grew its adjusted funds from operations (AFFO) by 14% for the full year, helping support an 11% increase in its dividend. The communications infrastructure company also slightly increased its 2022 outlook after signing a new long-term deal with T-Mobile to support its 5G rollout.Crown Castle sees lots of 5G-driven growth ahead as mobile carriers utilize more infrastructure to support the faster network. That leads the REIT to believe it can grow its dividend at a 7% to 8% annual pace over the next few years. With shares now cheaper, Crown Castle offers the potential of generating even […]
Click here to view original web page at www.fool.com
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.