Maximize Your Dividend Income in October with These 3 Stocks Offering Yields Up To 7.2% (EPR, SPG, CUBE)

Looking to boost your dividend income this month? If so, real estate investment trusts (REITs) offer a compelling opportunity for income-seeking investors, offering high and stable yields.

REITs own, operate or finance income-generating real estate, allowing individuals to invest in various real estate types without direct ownership or management responsibilities. 

REITs must distribute a large percentage of their taxable income to shareholders through dividends, often leading to high yields. If you're an income-seeking investor, here are three high-quality REITs with yields up to 7.2% that you could add to your portfolio today.

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EPR Properties

EPR Properties EPR owns and manages experiential real estate across North America, including movie theaters, water and amusement parks, ski parks and resorts, gaming properties and golf ranges. As of June 30, its portfolio comprised 354 properties across 44 U.S. states and Canada.

EPR pays a monthly dividend of $0.285 per share, which equates to an annualized dividend of $3.42 per share and gives its stock a yield of about 7.2% at the time of this writing.

In addition to offering monthly income, EPR has grown its dividend over the past two years. Its 3.6% dividend hike in February 2023 sets the company up to mark its third consecutive year of dividend growth.

Simon Property Group, Inc.

Simon Property Group SPG owns and manages premier shopping, dining, entertainment and mixed-use properties across North America, Asia and Europe. As of June 30, its portfolio comprised ownership interests in 230 properties containing approximately 183 million square feet.

Simon Property pays a quarterly dividend of $2.05 per share, which equates to an annualized dividend of $8.20 per share and gives its stock a yield of about 4.9% at the time of this writing.

Simon Property has been growing its dividend rapidly in recent years. It has raised its annual dividend payment 11 times since the start of 2021, with its most recent increase being a 2.5% hike in August.

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CubeSmart

CubeSmart CUBE is one of the largest owners and operators of self-storage properties in the U.S. As of June 30, its portfolio comprised 1,494 self-storage properties across 185 markets in 40 states and the District of Columbia.

CubeSmart pays a quarterly dividend of $0.51 per share, which equates to an annualized dividend of $2.04 per share and gives its stock a yield of about 4.1% at the time of this writing.

While CubeSmart has the lowest yield of the stocks discussed in this article, it has the most impressive track record of dividend growth. It has raised its annual dividend payment for 14 consecutive years, including a 62% dividend growth rate over the last five years.

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