Industrial real estate investment trusts (REITs) own and manage income-generating industrial properties, such as warehouses, distribution centers, logistics facilities, and manufacturing plants. Industrial REITs generate income by leasing the properties.
Investors in industrial REITs can benefit from the demand for space in the logistics and manufacturing sectors. The growth of e-commerce and the need for efficient supply chain management have contributed to the growth of the space in recent years. Similar to other REITs, industrial REITs are required to distribute a significant portion of their income to shareholders in the form of dividends.
If you’re interested in investing in industrial REITs, here are two you could buy today.
Innovative Industrial Properties
Innovative Industrial Properties Inc.(NYSE:IIPR) acquires, owns, and manages specialized properties leased to cannabis companies. Its portfolio currently consists of 108 properties across 19 U.S. states, including both industrial and retail properties.
Innovative Industrial Properties currently pays a quarterly dividend of $1.82 per share, equating to an annualized dividend of $7.28 per share, which gives its stock a yield of about 7.7% at the time of this writing.
Innovative Industrial Properties is also a serial dividend raiser. It has raised its annual dividend payment each year since its initial public offering in 2016, putting it on track for 2024 to mark the 8th consecutive year with an increase.
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Americold Realty Trust
Americold Realty Trust (NYSE:COLD) owns and/or operates 245 temperature-controlled warehouses containing approximately 1.5 billion refrigerated cubic feet of storage across North America, Europe, Asia-Pacific, and South America. Its warehouses are a crucial component of the supply chain that connects food producers, processors, distributors, and retailers to consumers.
Americold currently pays a quarterly dividend of $0.22 per share, equating to an annualized dividend of $0.88 per share, which gives its stock a yield of about 3.9% at the time of this writing.
Americold has a track record of growing its dividend as well. It has raised its annual dividend payment three times since its initial public offering in 2018.
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This article These Industrial REITs Have Yields Up to 7.7% and Track Records of Dividend Growth originally appeared on Benzinga.com
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