Generate Monthly Income From These REITs Yielding 6% or More

For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. In this article, we unravel two REITs that pay monthly dividends and have yields of 6% or more.

LTC Properties

LTC Properties LTC is a REIT that invests primarily in senior housing and healthcare properties. As of December 31, 2023, its portfolio consists of 202 properties, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 29 operating partners.

LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share and giving its stock a yield of about 7.2% at the time of this writing. The company has also maintained this monthly rate since October 2016, making it a very reliable source of income.

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Apple Hospitality

Apple Hospitality APLE owns and manages a portfolio of upscale, rooms-focused hotels across the United States. As of November 30, 2023, its portfolio consists of 224 hotels with 29,601 guest rooms located across 37 states.

Apple Hospitality currently pays a monthly dividend of $0.08 per share, equating to an annualized dividend of $0.96 per share and giving its stock a yield of about 6% at the time of this writing. It's worth noting that the company suspended its dividend during the Covid-19 pandemic, but it appears to be back on track as a reliable source of monthly income.

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