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As per knowledge compiled by S&P World Market Intelligence, twenty U.S.-listed and based mostly REITs introduced will increase to their common dividend funds in February.
On an general foundation, this accounts for ~87% of the full dividend hikes over the primary two months of 2023.
February dividend hike bulletins take the YTD whole to 23 U.S. REITs or ~14.5% of your entire U.S. REIT trade.
With two Canadian REITs additionally declaring larger dividends throughout February, the YTD whole stands at 4 dividend hike bulletins.
U.S. & Canada Sector-wise:
- U.S. Self-storage REITs have reported probably the most dividend positive aspects because the starting of 2023, with three of six corporations working within the sector elevating their distributions; specialty phase adopted with 31.6% of REITs within the sector saying dividend will increase as of February-end whereas industrial phase got here in third with 27.3%.
- Canada Workplace REITs (20%) noticed the utmost dividend will increase adopted by Diversified (11.1%) and Retail (9.1%).
Firm-wise:
- RLJ Lodging Belief (RLJ) announced the biggest dividend hike in February, elevating its quarterly money distribution 60%; President and CEO Leslie Hale stated, “Whereas the present surroundings stays unsure, the persevering with enchancment in enterprise journey, group reserving momentum and the continued restoration in city leisure offers us confidence that city markets will proceed to outperform the trade on a relative foundation this yr, which is able to profit our urban-centric portfolio.”
- CBL & Associates Properties (CBL) and Public Storage (PSTG) elevated their dividends by 50%.; CBL CEO Stephen Lebovitz stated, “Sturdy working efficiency and favorable financing exercise in 2022 and YTD have contributed to our substantial money circulation technology and robust money place.”
- Others like, American Houses 4 Lease (AMH), Rexford Industrial Realty (REX), SBA Communications (SBAC) and Equinix (EQIX) additionally posted double-digit will increase of their February dividend payouts.
- Boardwalk REIT (OTCPK:BOWFF) led the Canadian pack with 8.3% improve adopted by RioCan REIT (OTCPK:RIOCF) posting a 5.9% increase.
SA Contributor And Worth For All wrote, “Park Hotels & Resorts: Buy Into The Disconnect Between Market Value And NAV”
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