Investing in real estate can be a stable source of income, especially if you like owning hard assets that appreciate over time. But it takes a lot to purchase your first investment property: you’ll need the cash for a down payment as well as a solid credit score and the income to cover the mortgage payments.
Luckily, you can still invest in real estate without having to take the risk of managing a property of your own. Consider adding some of these high-growth real estate investment trusts (REITs) to your portfolio to start taking advantage of real estate exactly where you are today.
PennyMac Mortgage Investment Trust (NYSE: PMT): This REIT lets you invest in residential real estate without having to commit to just one property. It has a quarterly dividend of $0.40 and has traded between $10.78 and $17.24 over the last 52 weeks.
Public Storage (NYSE: PSA): Outperforming the rest of the market in February 2023, Public Storage has around 2,500 self-storage facilities nationwide. It’s currently trading at just over $300 per share and has ranged between $270.13 and $421.76 over the last 52 weeks. It also comes with a hefty $3 quarterly dividend.
Realty Income (NYSE: O): Realty Income is considered a “dividend aristocrat,” meaning it has consistently paid dividends to shareholders for the last 25 years, while also increasing that payment. Realty Income owns commercial properties leased by major companies in industries like grocery, convenience, and more. Its stock price has ranged from $55.50 to $75.40 over the last 52 weeks.
Gaming and Leisure Properties (NYSE: GLPI): This casino and gambling REIT currently has a 5.4% annual yield. In addition to a quarterly dividend, the company recently announced a special dividend of $0.25 per share on top of its usual quarterly dividend. Its 52-week trading price has ranged between $41.97 and $54.46.
Digital Realty Trust (NYSE: DLR): If you’re interested in the intersection of technology and real estate, this REIT could be a good option. Digital Realty Trust owns and operates data centers across the globe. Its most recent quarterly dividend paid out $1.22 and the stock price has gone from $85.76 to $153.50 over the last 52 weeks.
American Tower Corp (NYSE: AMT): This specialty REIT focuses on wireless communications and broadcast towers. With a 52-week range between $$178.17 and $282.47. It comes with a 3.15% annual dividend yield, most recently at $1.56 per share.
Vici Properties (NYSE: VICI): Here’s another gaming and leisure property stock that has performed well. Its annual dividend yield is 4.65%, for a quarterly dividend of $0.39. Its 52-week range has been $26.42 to $35.69.
Agree Realty (NYSE: ADC): This REIT focuses on retailer commercial properties such as Walmart and Home Depot. Its stock price has been between $62.63 and $80.44 over the last 52 weeks. Additionally, its annual dividend yield is 4.075%, with a quarterly payout of $0.72.
Another cost-effective way to incorporate real estate into your portfolio is by purchasing distressed properties like foreclosures and short sales.
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