Looking For Yields: Realty Income, Black Hills And CubeSmart Are Consistent Moneymakers

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Realty Income, Black Hills and CubeSmart have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-5%.

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Realty Income

Realty Income Corporation O owns roughly 15,400 properties, most of which are free-standing, single-tenant, triple-net-leased retail properties. Its properties are located in 49 states and Puerto Rico and are leased to 250 tenants from 47 industries. Recent acquisitions have added industrial, gaming, office, manufacturing and distribution properties, which comprise roughly 20% of revenue.

Realty Income has increased its dividends every year for the last 30 years. According to its most recent dividend announcement on Sept. 10, its Board of Directors increased the monthly dividend from $0.2630 to $0.2635 per share or around $3.162 annualized. Currently, the dividend yield stands at 5.06%.

As of June 30, the company’s annual revenue stood at $4.7 billion. According to the company’s most recent earnings announcement on Aug. 5, it generated Q2 2024 revenues of $1.34 billion and an EPS of $1.06. Both figures came in above consensus estimates.

Check out this article by Benzinga, which highlights 11 analysts' insights on Realty Income stock.

Black Hills

Black Hills Corporation BKH is an energy company that operates through its Electric Utilities, Gas Utilities, Corporate and Other segments. These segments operate in states in the Midwest and mountain regions in the U.S. 

According to the company's most recent dividend hike announcement on Jan. 26, its board of directors raised the quarterly dividend by $0.025 to $0.65 per share or $2.60 annualized.

According to the company's statement, the new annualized rate represents 54 consecutive years of annual dividend increases and is the second-longest track record in the electric and natural gas utility industry.

The current yield on the dividend is 4.25%.

The company’s annual revenue (as of June 30) is $2.1 billion. Black Hills’ most recent earnings report, released on July 31, posted Q2 2024 revenues of $402.60 million, missing the consensus estimate of $510.60 million. However, the EPS of $0.33 was better than the consensus of $0.25.

Black Hills affirmed its guidance for 2024 earnings per share available for common stock to be between $3.80 and $4.00.

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CubeSmart

CubeSmart CUBE is a real estate investment trust that acquires, owns and manages self-storage facilities throughout the United States. The company’s real estate portfolio consists of buildings with numerous enclosed storage areas that residential and commercial customers rent, mainly on a month-to-month basis.

CubeSmart has raised its dividends every year since 2011. On Dec. 7, 2023, its Board of Directors announced its most recent dividend hike, increasing the quarterly dividend by 4.1% to $0.51 per share or $2.04 annualized, with a yield of 3.77%.

As of June 30, CubeSmart's annual revenue stood at $1.1 billion. According to the company's most recent earnings announcement on Aug. 1, it generated Q2 2024 revenues of $266.21 million, better than the consensus estimate of $254.94 million and an EPS of $0.64, which aligns with expectations. 

Check out this article by Benzinga, which analyzes CubeSmart’s recent short interest.

Realty Income, Black Hills and CubeSmart are good choices for investors seeking reliable passive income. Their dividend yields of around 3-5% and long history of consistent hikes make them attractive to income-focused investors.

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