4 US, Canada REITs announce higher dividends in January

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.

Three US and one Canadian real estate investment trusts announced dividend increases in January, according to S&P Global Market Intelligence data.

Postal Realty Trust Inc., a specialty REIT focused on properties primarily leased to the United States Postal Service, announced a quarterly dividend of 24.50 cents per share, representing a 1.0% increase from its most recent dividend. This marks a 75% rise compared to the end of 2019.

Industrial REIT Modiv Industrial Inc. declared a monthly dividend of 10 cents per share, reflecting a 2.6% increase from its most recent payout.

STAG Industrial Inc. reported a quarterly dividend increase of 4%, bringing the dividend to 38.75 cents per share, an 8.4% increase since the end of 2019. The company shifted from monthly to quarterly dividends in January.

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In Canada, First Capital REIT, which focuses on shopping centers, announced a monthly dividend increase of 2.5%, reaching 7.60 Canadian cents per share. This increase represents a 6.1% rise compared to the end of 2019.

Dividend increases by sector

In January, industrial REITs were responsible for two of the three dividend increase announcements, accounting for 16.7 % of the sector. Combined with Postal Realty's announcement, those three increases represent 2% of public US REITs.

In Canada, the lone announcement represent 2.4% of the REIT market.