5 US REITs announce higher per-share dividends in September

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 TSX Venture Exchange.

Five US equity real estate investment trusts increased their dividends in September, bringing the total number of US REITs that have done so this year to 58, according to S&P Global Market Intelligence data.

Residential REIT Millrose Properties Inc. was the latest to announce a new quarterly dividend increase at 73 cents per share, up 5.8% from the company's most recent payout.

Diversified real estate company W. P. Carey Inc. raised its quarterly dividend by 1.1% to 91 cents per share. Casino real estate-focused Vici Properties Inc.'s new quarterly payout of 45 cents per share is 4% higher than Vici's most recent dividend.

Realty Income Corp., a single-tenant real estate landlord, and shopping center-focused Phillips Edison & Co. Inc. raised their respective monthly payouts by 0.2% and 5.7%, respectively.

No Canadian REITs raised dividends in September.

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Dividend increases by sector

The 58 US REITs that have raised payouts through Sept. 30 comprised 36.9% of the sector.

Industrial REITs lead, with 61.5% of the sector announcing dividend raises during the period, followed by the residential and retail sectors.

In Canada, nine REITs have raised payouts, or 20.5% of the Canadian REIT industry.