5 US REITs raise dividend payments in July

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 publicly-listed real estate investment trusts in the US increased regular dividends in July, S&P Global Market Intelligence data shows.

Two healthcare REITs were among the five. Welltower Inc. raised the quarterly dividend 10.4% to 74 cents per share, payable Aug. 21while Community Healthcare Trust Inc. increased its quarterly dividend to 47.25 cents per share, payable Aug. 22.

Two single tenant property REITs were also among the five. Net lease retail REIT NETSTREIT Corp. declared a quarterly cash dividend of 21.5 cents per share, 2.4% higher than the previous dividend, to be paid Sept. 15 and retail-focused NNN REIT Inc. raised its second-quarter cash payout by 3.4% to 60 cents per share, payable to shareholders Aug. 15

The fifth was Industrial Logistics Properties Trust with a quarterly cash distribution upped to 5 cents per share, to be paid Aug. 14.

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Dividend increases by sector

The dividend hikes in July brought the number of public US REITs that have declared regular dividend increases during the first seven months of the year to 49 companies, representing 31.2% of the REIT industry.

These companies include 11 residential REITs, representing 55% of the subsector, and 10 retail REITs, representing 38.5% of the subsector.

Seven Canadian REITs, or 15.9% of the total, have increased their regular dividend payments year to date.