If you are a retiree seeking monthly dividend income, then this article is for you. I have scoured the real estate investment trust industry and selected three that can provide you with a large, steady, and safe income stream, so let’s take a closer look at each to determine which would fit best in your portfolio.
1. Artis Real Estate Investment Trust
Artis Real Estate Investment Trust (TSX:AX.UN) owns 255 retail, office, and industrial properties in Canada and the United States, which total approximately 26.2 million square feet. It pays a monthly distribution of $0.09 per share, or $1.08 per share annually, giving its stock an 8.7% yield at today’s levels.
Investors should also note that Artis has maintained this monthly rate since May 2008, and its consistent funds from operations, including an adjusted $164.59 million in fiscal 2014 and an adjusted $134.82 million in the first nine months of fiscal 2015, could allow it to continue to do so in 2016.
2. Pure Industrial Real Estate Trust
Pure Industrial Real Estate Trust (TSX:AAR.UN) owns 169 industrial properties in Canada and the United States, which total approximately 17.4 million square feet. It pays a monthly distribution of $0.026 per share, or $0.312 per share annually, giving its stock a 7.3% yield at today’s levels.
It is also important to note that Pure Industrial has maintained this annual rate since 2013, and its consistent funds from operations, including an adjusted $54.9 million in fiscal 2014 and an adjusted $49.2 million in the first nine months of fiscal 2015, could allow it to continue doing so in 2016.
3. H&R Real Estate Investment Trust
H&R Real Estate Investment Trust (TSX:HR.UN) is the second-largest REIT in Canada, with 512 office, retail, industrial, and residential properties totaling approximately 46.6 million square feet. It pays a monthly distribution of $0.1125 per share, or $1.35 per share annually, giving its stock a 6.6% yield at today’s levels.
Investors should also note that H&R has maintained this annual rate since 2013, and its consistent funds from operations, including $543 million in fiscal 2014 and $427.1 million in the first nine months of fiscal 2015, could allow it to continue to do so in 2016.
Which of these REITs pique your interest the most?
Artis, Pure Industrial, and H&R can provide the monthly income that your portfolio needs. All retirees should take a closer look and strongly consider initiating positions in one of them today.
