These Real Estate Stocks Raised Their Dividends Significantly for the Month of May

Discover the real estate stocks with the biggest dividend increases last month, May



Industry: Reit—Mortgage
Subindustry: Senior Debt

Arbor Realty Trust, Inc. (ABR) recently reported strong financial results for the first quarter of 2023, with net income of $84.3 million or $0.46 per diluted common share, surpassing the previous year's figures. This growth in profitability has enabled Arbor Realty Trust to increase its dividend by $0.02 per share, resulting in a quarterly cash dividend of $0.42 per share of common stock. The decision to raise the dividend was likely driven by Arbor's solid performance and distributable earnings of $122.2 million for the quarter.


Industry: Reit—Hotel & Motel
Subindustry: Hotel Development

RLJ Lodging Trust, a leading lodging company, recently reported impressive financial results for the first quarter of 2023. RLJ Lodging Trust experienced a substantial increase in its portfolio comparable revenue per available room (RevPAR) by 27.0% compared to Q1 2022, reaching $136.45. This growth can be attributed to positive trends in lodging fundamentals, particularly in urban markets, benefiting from improved business travel, strong group demand, healthy leisure activities, and rising international travel. Key urban markets like San Diego, New York, and Washington DC even surpassed 2019 average daily rates (ADR) by more than 10%. With these encouraging performance indicators, RLJ demonstrated strong pricing power and exceeded its expectations for the quarter. Furthermore, RLJ Lodging Trust capitalized on its robust balance sheet by executing growth initiatives, opportunistically repurchasing shares, and significantly increasing its quarterly dividend by 60% to $0.08 per common share. In addition, RLJ Lodging Trust extended the maturity of certain term loans and secured loans, ensuring financial stability and flexibility for future endeavors.


Industry: Reit—Diversified
Subindustry: Real Estate Investment Trusts

Alpine Income Property Trust, Inc. (PINE) recently announced a 1.9% year-over-year increase in its quarterly cash dividend for the second quarter of 2023. The dividend amount of $0.275 per share of common stock reflects an annualized yield of approximately 7.0% based on the closing price of the stock on May 19, 2023.


Industry: Real Estate—Development

CTO Realty Growth, Inc. (CTO), a leading real estate company, recently announced an increase in its dividend payout for the second quarter of 2023. The Board of Directors authorized a 1.8% year-over-year increase in the quarterly cash dividend for common stock, amounting to $0.38 per share.


Industry: Reit—Residential
Subindustry: Residential Development

Independence Realty Trust, Inc. (IRT) recently delighted its shareholders by increasing its quarterly dividend to $0.16 per share, up by an impressive 14% from the previous rate of $0.14 per share. The decision was made by IRT's board of directors, who recognized Independence Realty Trust's strong performance and growth prospects. The dividend payment is scheduled for July 21, 2023, with stockholders of record as of June 30, 2023, being eligible. In addition to this positive development, IRT has been actively engaging with investors at BMO's 2023 Real Estate Summit in New York City, as indicated by their May Investor Presentation on Independence Realty Trust's website.

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