Dividend Boosters: 3 Stocks That Just Rewarded Their Shareholders With Dividend Increases (BRX, NXRT, KRG)

In a positive development for investors, three high-quality real estate investment trusts (REITs) announced dividend increases in recent weeks. 

Investors should note REITs that are increasing their dividends because this typically indicates strong financial health and stable cash flow, which are key to finding stocks that provide reliable income streams over the long term.

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Let’s look at each of these REITs to see if there's room in your portfolio for one.

Brixmor Property Group

Brixmor Property Group BRX owns and manages a portfolio of open-air shopping centers. As of Sept. 30, its portfolio comprised 360 retail centers containing approximately 63 million square feet of retail space. Its largest tenants include TJX Companies, Kroger, Burlington Stores, Dollar Tree, Publix Super Markets and Ross Stores.

On Oct. 28, Brixmor announced a 5.5% increase to its dividend. It now pays a quarterly dividend of $0.2875 per share, resulting in an annualized dividend of $1.15 per share and giving its stock a 4.1% yield at the time of this writing.

Brixmor’s streak of annual dividend increases ended when the COVID-19 pandemic forced it to suspend its dividend in 2020. However, operations quickly normalized and it reinstated its dividend the following year. The company has raised its annual dividend payment each year since, resulting in three consecutive years of increases and the hike it just announced puts it on track for 2025 to mark the fourth consecutive year with an increase.

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NexPoint Residential Trust

NexPoint Residential Trust NXRT is a leading owner and manager of multifamily properties across the Sunbelt region of the United States. As of Sept. 30, its portfolio comprised 36 properties containing 13,174 units across 11 markets, including Atlanta, Charlotte, Houston, Las Vegas, Orlando and Phoenix.

On Oct. 29, NexPoint announced a 10.3% increase to its dividend. It now pays a quarterly dividend of $0.51 per share, which results in an annualized dividend of $2.04 per share and gives its stock a 5% yield at the time of this writing.

NexPoint is quickly becoming one of the top dividend-growth stocks in the multifamily REIT industry. Its 10.1% dividend increase in October 2023 put it on track for 2024 to mark the ninth consecutive year that it has raised its annual dividend payment and the hike it just announced puts it on pace for 2025 to mark the 10th consecutive year with an increase.

Kite Realty Group Trust

Kite Realty Group Trust KRG owns and manages open-air shopping centers and mixed-use properties primarily concentrated in Sun Belt markets in the United States. As of Sept. 30, its portfolio comprised 179 properties containing approximately 28 million square feet of gross leasable area. Its largest tenants include TJX Companies, Best Buy, Ross Stores, PetSmart and Ulta.

On Oct. 28, Kite announced a 3.8% increase in its dividend. It now pays a quarterly dividend of $0.27 per share, which results in an annualized dividend of $1.08 per share and gives its stock a 4.1% yield at the time of this writing.

The increase marked the second consecutive quarter in which Kite raised its dividend. These increases put it on track for 2024 to mark the fourth consecutive year in which it has raised its annual dividend payment and also put it on pace for 2025 to mark the fifth consecutive year with an increase.

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