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