A Basket Of Quarterly Dividend REITs That Can Pay You Every Month

Income investors love receiving dividends to pay regular bills, but too often quarterly dividends are paid in bunches, rather than being spread out across each month. 

While it’s also possible to own a basket of monthly paying real estate investment trusts (REITs), the payments are much smaller than dividends paid quarterly. So this makes bill paying a bit tricky.

But what if it were possible, starting in 2023, to get paid every month using quarterly dividend-paying REITs?

Take a look at the chart below of REITs from diversified subindustries with a wide range of dividend yields. Holding a basket of these nine REITs that pay dividends at different times of the year can create a fairly substantial amount of income each month. A brief summary of each REIT and the quarterly dividend paid is included below the chart:

 REIT SYMBOL DIVIDEND PAY PERIOD ANNUAL YIELDS

Mid-America Apartment Communities Inc. MAA is a Germantown, Tennessee-based residential REIT that specializes in purchasing and leasing apartment complexes. It owns over 101,000 units in 296 communities across 16 Southern and Mid-Atlantic states and Washington, D.C. The quarterly dividend is $1.40 per share.

UDR Inc. UDR, formerly known as United Dominion Realty Trust, is a Highlands Ranch, Colorado-based residential REIT that owns, leases and manages 58,464 apartment units across 13 states plus Washington, D.C. The quarterly dividend is $0.38 per share.

Iron Mountain Inc. IRM is a Boston-based data REIT and member of the S&P 500, boasting more than 225,000 customers in over 60 countries around the globe. Over 94% of Fortune 1000 companies use Iron Mountain’s records management, information destruction, data backup and recovery services. The quarterly dividend is $0.6175 per share.

Omega Healthcare Investors Inc. OHI is a Hunt Valley, Maryland-based triple-net equity healthcare REIT that has 63 different operators to which it provides finances, capital and leasing. It owns 921 senior housing, skilled nursing and assisted living facilities across 42 states throughout the U.S. and the United Kingdom. The quarterly dividend is $0.67 per share.

National Retail Properties Inc. NNN is a net-lease REIT that owns a diversified group of stand-alone retail outlets across the U.S. National Retail Properties’ stable tenant base includes 7-Eleven Inc., Sunoco LP, Best Buy, Camping World, BJ’s Wholesale Club and Chuck E. Cheese. The quarterly dividend is $0.55 per share.

Welltower Inc. WELL is a Toledo, Ohio-based healthcare REIT that owns facilities that provide senior housing, post-acute healthcare and outpatient health systems across the U.S., Canada and U.K. The quarterly dividend is $0.61 per share.

National Storage Affiliates Trust NSA is a Greenwood Village, Colorado-based self-storage REIT that owns and operates 1,100 self-storage properties with 71.5 million square feet of rentable space in the largest metropolitan areas throughout 42 states and Puerto Rico. The quarterly dividend is $0.55 per share.

Simon Property Group Inc. SPG is an Indianapolis-based retail REIT that owns and leases shopping malls, restaurants, outlet centers and entertainment venues. Simon Property Group owns over 400 retail centers in 24 countries. The quarterly dividend is $1.80 per share.

Gaming and Leisure Properties Inc. GLPI is a specialized REIT that owns and triple-net leases 57 gaming properties across 17 states. Its tenants include Penn Entertainment Inc., Caesars Entertainment, Boyd Gaming Corp. and others. The quarterly dividend is $0.705 per share.

Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it’s too late. Benzinga’s in-house real estate research team has been working hard to identify the greatest opportunities in today’s market, which you can gain access to for free by signing up for Benzinga’s Weekly REIT Report.

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