7 US REITs, 1 Canadian REIT announce dividend increases in June

This Data Dispatch is updated monthly. The analysis includes publicly traded real estate investment trusts covered by S&P Global Market Intelligence that are based in the US or Canada and trade on the NYSE, Nasdaq, NYSE American, Toronto Stock Exchange or Toronto Venture Exchange.

Seven publicly traded real estate investment trusts based in the US and one Canadian REIT announced dividend increases in June, according to data compiled by S&P Global Market Intelligence.

Host Hotels & Resorts announces 25% dividend increase

Hotel REIT Host Hotels & Resorts Inc. announced the largest relative increase in June, upping its quarterly dividend payment 25% to 15 cents per share. Host Hotels & Resorts' dividend still sits 25% below its pre-pandemic level of 20 cents per share.

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Presidio Property Trust announced a 4.5% increase of its quarterly dividend to 2.3 cents per share June 16. This marks the diversified REIT's second dividend increase year to date, representing an aggregate 9.5% increase from its dividend of 2.1 cents per share at the end of 2022.

Office REIT Alexandria Real Estate Equities Inc. upped its quarterly dividend payment by 2.5% to $1.24 per share.

Essential Properties Realty Trust Inc., a single-tenant retail REIT, announced a 1.8% increase to its quarterly dividend June 12 to 28 cents per share.

Other US REITs that announced small increases to their regular dividends in June included healthcare REIT Universal Health Realty Income Trust, single-tenant retail REIT Realty Income Corp. and diversified REIT W. P. Carey Inc.

On the Canada side, CT REIT increased its monthly dividend payment by 3.5% to 7.485 Canadian cents per unit.

Increases by sector

The new dividend increase announcements in June bring the year-to-date total to 52 for the US, or roughly 32.7% of the entire publicly traded US REIT industry.

By property sector, four of the six self-storage REITs announced increases year to date, the highest proportion of any sector. The residential REIT sector followed with 12 REITs announcing dividend increases, or 60% of the property sector.

Six Canadian REITs announced dividend increases year to date, representing approximately 13.6% of the publicly traded Canadian REIT industry.