Real Estate Sector's Dividend Growth: Arbor Realty Trust, RLJ Lodging Trust, and Others Increase Quarterly Cash Dividends Last Quarter Q2 FY 2023

Arbor Realty increased their dividend significantly last quarter Q2 FY 2023 and these 10 other real estate companies announced similar plans



Industry: Reit—Mortgage

Arbor Realty Trust, Inc. has reported strong financial results for the first quarter of 2023, with net income of $84.3 million, compared to $64.1 million in the same quarter last year. The distributable earnings for the quarter also saw significant growth, reaching $122.2 million, up from $92.9 million in the first quarter of 2022. Arbor Realty Trust's robust performance can be attributed to its successful Agency Business, Loan Origination Platform, and Structured Business, which generated substantial revenues and loan sales during the period.

As a result of Arbor Realty Trust, Inc.'s impressive financial performance and positive prospects, Arbor Realty Trust has increased its quarterly cash dividend. The Board of Directors declared a dividend of $0.42 per share of common stock for the first quarter of 2023. This indicates a positive outlook for Arbor Realty Trust, Inc. and its investors, reflecting management's confidence in its ability to generate solid returns.

Recent developments, including the issuance of $95.0 million senior notes and effective financing activity, have likely contributed to Arbor Realty Trust, Inc.'s ability to raise its dividend. Arbor Realty Trust, Inc.'s focus on growing its fee-based servicing portfolio and structured business activities has also contributed to the overall success and potential for increased dividends in the future.

Arbor Realty Trust, Inc. is a real estate investment company founded in 2003 and based in Uniondale, New York. Specializing in structured finance assets, it invests in a diverse portfolio that includes multifamily, single-family rental, and commercial real estate markets. Arbor Realty Trust operates in two segments, Structured Business and Agency Business, primarily focusing on bridge and mezzanine loans, preferred and direct equity, real estate-related notes, and mortgage-related securities. Additionally, it offers bridge financing products, preferred equity investments, mezzanine financing, and junior participation financing. As a real estate investment trust, Arbor Realty Trust qualifies for federal income tax purposes and avoids federal corporate income taxes by distributing at least 90% of its taxable income to stockholders.


Industry: Reit—Hotel & Motel

RLJ Lodging Trust reported strong first-quarter results with significant growth in Portfolio Comparable RevPAR, Total Revenue, and Net Income. The positive momentum in lodging fundamentals, especially in urban markets, played a crucial role in driving RLJ Lodging Trust's performance. Key urban markets like San Diego, New York, and Washington DC, saw RevPAR exceed 2019 levels by 10% or more during the quarter.

RLJ Lodging Trust's impressive financial performance allowed RLJ Lodging Trust to demonstrate the optionality provided by its strong balance sheet. RLJ Lodging Trust executed incremental growth initiatives, opportunistically repurchased shares on a leverage-neutral basis, and significantly increased its quarterly dividend by 60% to $0.08 per common share. This underscored the benefits of RLJ Lodging Trust's strong free cash flow profile.

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service, and compact full-service hotels. RLJ Lodging Trust's portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia, and an ownership interest in one unconsolidated hotel with 171 rooms.


Industry: Reit—Hotel & Motel

Summit Hotel Properties, Inc. recently announced an increase in its dividend. The Board of Directors authorized and declared a cash dividend of $0.06 per share of common stock, along with a 50 percent increase over the previous quarter's common dividend. This move reflects Summit Hotel Properties, Inc.'s commitment to its shareholders and signifies a strong belief in its future prospects.

The dividend increase could be attributed to several factors, including Summit Hotel Properties, Inc.'s robust performance and positive outlook. The 3.9 percent annualized dividend yield, based on the closing price of shares on April 26, 2023, showcases an attractive return for investors. Summit Hotel Properties, Inc.'s management likely considered various financial metrics and cash flow projections to support this decision.

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, Summit Hotel Properties, Inc.'s portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.


Industry: Reit—Retail

Kimco Realty has recently reported its first-quarter results for 2023. Kimco Realty, Inc.'s net income available to common shareholders increased to $0.46 per diluted share, compared to $0.37 per diluted share in the same period last year. This significant increase is primarily attributable to a special dividend of $194.1 million received from Albertsons Companies, related to the 28.3 million shares Kimco Realty, Inc. held.

The strong financial performance and positive outlook for Kimco Realty, Inc. are further supported by several first-quarter highlights. Kimco Realty, Inc. reported Funds From Operations (FFO) of $0.39 per diluted share, while achieving a 1.4% growth in Same-Property Net Operating Income (NOI) over the same period last year. Additionally, Kimco Realty, Inc.'s strategic leasing efforts resulted in leasing a total of 4.5 million square feet, with impressive cash rent spreads of 44.0% for new leases on comparable spaces.

The positive cash flow from Kimco Realty, Inc.'s operating portfolio and the proceeds from the monetization of Albertsons shares have allowed Kimco Realty, Inc. to reduce its leverage levels and support future growth opportunities. As a testament to its confidence in continued growth, Kimco Realty, Inc. increased its dividend by 15% over the corresponding period of the prior year, declaring a cash dividend of $0.23 per common share.

Kimco Realty Corporation (NYSE: KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers, and mixed-use assets. As of September 30, 2020, Kimco Realty Corporation owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, Kimco Realty Corporation has specialized in shopping center acquisitions, development, and management for more than 60 years.


Industry: Reit—Healthcare Facilities

Universal Health Realty Income Trust recently made an important decision to increase its dividend. UHT's Board of Trustees voted to raise the quarterly dividend by $0.005, resulting in a new dividend of $0.72 per share. This increase is scheduled to be paid on June 30, 2023, to shareholders who were on record as of June 20, 2023.

Universal Health Realty Income Trust, a real estate investment trust, invests in healthcare and human service-related facilities, including acute care hospitals, rehabilitation hospitals, sub-acute care facilities, medical/office buildings, free-standing emergency departments, and childcare centers. Universal Health Realty Income Trust has investments in seventy-one properties located in twenty states, including two that are currently under construction.


Industry: Reit—Diversified

Alpine Income Property Trust, Inc. recently announced a positive development for its investors as Alpine Income Property Trust, Inc. increased its quarterly cash dividend for the second quarter of 2023. The new dividend stands at $0.275 per share of common stock, reflecting a significant 1.9% year-over-year increase compared to the second quarter of 2022. This move signals Alpine Income Property Trust, Inc.'s commitment to rewarding its shareholders, offering an attractive annualized yield of approximately 7.0% based on the closing price of the common stock on May 19, 2023.

Alpine Income Property Trust, Inc. is a real estate company that owns and operates a portfolio of single-tenant commercial properties. Alpine Income Property Trust is headquartered in Daytona Beach, Florida. Alpine Income Property Trust, Inc.'s investment strategy is to acquire, own, and operate primarily freestanding, single-tenant commercial real estate properties primarily located in target markets leased primarily pursuant to triple-net, long-term leases. Alpine Income Property Trust, Inc. seeks to maximize cash flow and value per share by generating stable and growing cash flows and attractive risk-adjusted returns through owning, operating, and growing a diversified portfolio of high-quality single-tenant, net-leased commercial properties with long-term real estate fundamentals. Alpine Income Property Trust, Inc.'s portfolio consists of 20 single-tenant, primarily net-leased retail and office properties located in 15 markets in ten states, which represent approximately 817,000 gross rentable square feet.


Industry: Reit—Healthcare Facilities

Community Healthcare Trust Incorporated has just raised its common stock cash dividend for the quarter ended March 31, 2023. The new dividend amount is set at $0.45 per share, resulting in an annualized dividend of $1.80 per share. This marks another significant step for Community Healthcare Trust Incorporated as it continues its trend of increasing dividends since its Initial Public Offering.

Community Healthcare Trust Incorporated is a Franklin, Tennessee-based company focused on acquiring and financing real estate properties for lease to healthcare providers in non-urban markets. With investments in healthcare real estate, including mortgage and other loans, the firm owns medical office buildings, physician clinics, surgical centers, hospitals, behavioral facilities, and specialty centers across multiple states, such as Florida, Georgia, Illinois, Kentucky, Ohio, Texas, Alabama, Kansas, Pennsylvania, Wisconsin, Louisiana, Michigan, Arizona, Indiana, and Colorado, among others. With interests in 57 properties and one mortgage note, Community Healthcare Trust's portfolio totals over 1.33 million square feet as of December 31, 2016.


Industry: Reit—Office

Postal Realty Trust, Inc. has recently approved a 3.3% increase in its quarterly dividend on Postal Realty Trust's Class A common stock. The new dividend amount is set at $0.2375 per share, up from the first quarter 2022 dividend.

The decision to increase the dividend comes amid Postal Realty Trust, Inc.'s efforts to secure future growth and strengthen its financial position. Andrew Spodek, the Chief Executive Officer, highlighted the board of directors' rationale in maintaining the current dividend per share. In the current economic environment, the board considers it prudent to retain additional cash flow to reinvest in Postal Realty Trust, Inc., foster future growth, and fortify its balance sheet.

Postal Realty Trust, Inc. is an internally managed real estate corporation. Postal Realty Trust is headquartered in Cedarhurst, New York. The firm is an internally managed real estate investment trust that owns and manages properties leased to the United States Postal Service (USPS). Postal Realty Trust, Inc. owns 487 properties in 45 states comprising approximately 1.5 million net leasable interior square feet, all of which are leased to the USPS.


Industry: Real Estate—Development

CTO Realty Growth, Inc. recently announced a positive development for its investors with the authorization and declaration of a quarterly cash dividend of $0.38 per share of common stock for the second quarter of 2023. This represents a noteworthy 1.8% increase compared to the same period in 2022, offering an annualized yield of approximately 9.4% based on the closing stock price on May 19, 2023.

CTO Realty Growth, Inc. (formerly Consolidated-Tomoka Land Co.) is a US-based real estate company with diverse holdings. It owns around 2.2 million square feet of income properties in various markets across the United States and holds a 23% interest in Alpine Income Property Trust, Inc. CTO Realty Growth operates through four segments: Income Property, Management Services (including managing PINE), Commercial Loan Investments (with a portfolio of commercial loan investments), and Real Estate Operations (which includes mineral interests covering approximately 460,000 subsurface acres in 20 Florida counties, as well as a portfolio of mitigation credits and an interest in the Mitigation Bank joint venture).


Industry: Reit—Residential

Independence Realty Trust, Inc. has recently made a significant move by increasing its dividend to $0.16 per share of common stock, marking a substantial 14% rise compared to the previous quarterly rate of $0.14 per share. This decision was approved by Independence Realty Trust, Inc.'s board of directors and reflects Independence Realty Trust's commitment to rewarding its shareholders with a higher return on their investment. The second-quarter dividend is scheduled to be paid on July 21, 2023, to stockholders who were recorded as such on June 30, 2023.

Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. Independence Realty Trust, Inc.'s investment strategy is focused on gaining scale within key amenity-rich submarkets that offer good school districts, high-quality retail, and major employment centers. Independence Realty Trust, Inc. aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation.


Industry: Reit—Diversified

Essential Properties Realty Trust, Inc. recently made a positive move by increasing its dividend for the second quarter of 2023. Essential Properties Realty Trust's Board of Directors declared a quarterly cash dividend of $0.28 per share of common stock, which represents a $0.02 per share increase over the previous annualized dividend, now standing at $1.12 per share. This decision indicates Essential Properties Realty Trust, Inc.'s commitment to providing value to its shareholders and signifies a vote of confidence in its financial strength and future prospects.

Essential Properties Realty Trust, Inc., a real estate company, acquires, owns, and manages single-tenant properties in the United States. Essential Properties Realty Trust leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis. As of December 31, 2019, Essential Properties Realty Trust, Inc. had a portfolio of 1000 properties. Essential Properties Realty Trust qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Essential Properties Realty Trust was founded in 2016 and is based in Princeton, New Jersey.

All data was sourced from LevelFields AI

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