Real estate investment trusts (REITs) offer the benefits of owning rental properties, primarily a stream of monthly income, without the hassles that come with purchasing and maintaining a property or being a landlord. Let’s take a closer look at two REITs with yields up to 6% that you could buy today.
H&R Real Estate Investment Trust
H&R Real Estate Investment Trust (TSX:HR.UN) is one of North America’s largest diversified REITs. It has ownership interests in 525 retail, industrial, office, and residential properties that total approximately 46 million square feet and are located across Canada and the U.S.
H&R REIT pays a monthly distribution of $0.115 per unit, equal to $1.38 per unit annually, giving its stock a 6% yield today. It’s also important to note that the company’s 2.2% distribution increase that took effect in December has it positioned for 2017 to mark the second consecutive year in which it has raised its annual distribution.
Granite Real Estate Investment Trust
Granite Real Estate Investment Trust (TSX:GRT.UN)(NYSE:GRP) is one of the leading owners and managers of industrial properties in North America and Europe. Its portfolio currently consists of 92 income-producing properties totaling approximately 30.1 million square feet located across Canada, the U.S., and seven European countries.
Granite pays a monthly distribution of $0.217 per unit, equal to $2.60 per unit annually, which gives it a yield of about 5% today. Investors must also note that the company’s 8.3% distribution hike in November has it on pace for 2017 to mark the fifth consecutive year in which it has raised its annual distribution.
