Looking For Yields: Duke Energy, Spire And Essex Property Trust Are Consistent Moneymakers

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Duke Energy, Spire and Essex Property Trust have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-4%.

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Duke Energy

Duke Energy Corporation DUK is one of the largest U.S. utilities. Its regulated utilities in the Carolinas, Indiana, Florida, Ohio and Kentucky deliver electricity to 8.2 million customers and its natural gas utilities serve more than 1.6 million customers.

Duke Energy has consistently raised its dividends every year since 2007. On July 15, the company announced its most recent dividend hike, increasing the quarterly dividend from $1.025 to $1.045 per share, equal to $4.18 annualized. The annual yield on the dividend currently stands at 3.46%.

Duke Energy’s annual revenue (as of June 30) stood at $30 billion. As per its most recent earnings release on Aug. 6, the company posted Q2 2024 revenues of $7.17 billion and an EPS of $1.18, beating consensus estimates.

Investors with a lot of money have taken a bullish stance on Duke Energy stock. To learn more, check out this article by Benzinga.

See Also: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.

Spire

Spire Inc. SR engages in the purchase, retail distribution and sale of natural gas to residential, commercial, industrial and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing and Midstream. 

The company has raised its dividend consecutively for the past 21 years. As per its most recent dividend hike announcement on Nov. 13, 2023, the company raised the quarterly dividend from $0.72 to $0.755 per share, equaling an annual figure of $3.02 per share. Currently, the dividend yield stands at 4.63%.

Spire's annual revenue (as of June 30) was $2.6 billion. Per the company’s Q3 2024 earnings announcement on July 31, it generated revenues of $414.10 million and EPS of ($0.14). Both figures beat the Street expectations.

Check out this article by Benzinga for four analysts' insights on Spire stock.

Essex Property Trust

Essex Property Trust, Inc. ESS is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops and manages multifamily residential properties in selected West Coast markets. Essex is interested in 254 apartment communities comprising approximately 62,000 apartment homes.

The company raised its dividends every year for the last 30 years. According to its most recent dividend hike announcement on Feb. 22, its Board of Directors raised the quarterly dividend by 6.1% to $2.45 per share or $9.80 annualized. Currently, the dividend yield on the stock stands at 3.31%.

As of June 30, Essex Property Trust's annual revenue stood at $1.7 billion. According to the company's Q2 2024 earnings announcement on July 30, it posted revenues of $442.36 million and EPS of $3.94, which were above consensus estimates.

Duke Energy, Spire and Essex Property Trust are good choices for investors seeking reliable passive income. Their dividend yields of around 3-4% and long history of consistent hikes make them attractive to income-focused investors.

Better Yields Than Some REITs?

The current interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through publicly-traded REITs.

Arrived Homes, the Jeff Bezos-backed investment platform, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. It paid 8.1% in August. The best part? Unlike other private credit funds, this one has a minimum investment of only $100. 

Looking for fractional real estate investment opportunities? The Benzinga Real Estate Screener features the latest offerings.

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.