Looking for REITs? here’re five stocks that gave over 75% YTD return

Highlights

• Tanger Factory Outlet Centers, Inc. (NYSE: SKT) gained 100.60% YTD.
  
  
• Macerich Company (NYSE: MAC) stock gave return 97.4% YTD.
• Simon Property Group, Inc. (NYSE: SPG) return 93.64% YTD, with a P/E ratio of 26.81.

Demand for houses, the work-from-home culture, and limited supplies drove the US property prices to record highs in recent months. The median sales price of existing single-family homes rose by 16% YoY in 182 of 183 metro areas surveyed by the National Association of Realtors, WSJ reported. Here we discuss five real estate investment trusts (REITs) that pay dividends.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT)

Dividend – 3.73%

Annualized Dividend per share – US$0.73

The Greensboro, North Carolina-based company owns and operates shopping centers in the US and Canada. It is a fully integrated and self-managed REIT. It acquires, owns, manages, and operates outlet centers.

For the September quarter of 2021, the revenue was US$112 million versus US$103 million a year ago. Its net loss attributable to common shareholders was US$10.6 million or US$(0.11) per share diluted against a net income of US$13.03 million or US$0.14 per diluted share.

The REIT owned and operated 30 consolidated outlet centers as of September 30, 2021. Its market capitalization is US$2.1 billion, and the forward P/E ratio for one year is 16.47. 

The stock gave a return of 100.60% YTD. It closed at US$20.26 on November 11, 2021.

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Macerich Company (NYSE: MAC)

Dividend – 2.91%
Annualized Dividend per share – US$0.60

The Santa Monica, California-based Macerich invests in premium mall properties. It owns around 29 malls in consolidated portfolio and 19 malls in unconsolidated portfolio.

For the three months ended September 2021, the company earned revenue of US$212 million compared to US$186 million in the same quarter previous year. The net income of the REIT was US$106.7 million or US$0.50 per share diluted compared to the net loss of US$22 million or US$(0.15) per share diluted in September quarter of 2020.

It has a market capitalization of US$4.49 billion and a forward P/E for one year of 10.84. Its stock gave return 97.4% YTD and closed at US$21.14 on November 11, 2021.

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Simon Property Group, Inc. (NYSE: SPG)

Dividend – 3.66%

Annualized Dividend per share – US$6.60

The Indianapolis, Indiana-based company is one of the largest REITs in the US and has interests in malls, premium outlets, mills centers, lifestyle centers, and other retail properties. The REIT has more than 200 properties in its portfolio.

For the September quarter of 2021, it earned revenue of US$1.3 billion comprehensive income of US$678 million. The revenue and comprehensive income were US$1.06 billion and US$121 million, respectively, for the September quarter of 2020.

The company has a market capitalization of US$54.3 billion, a P/E ratio of 26.81, and a forward P/E ratio for one year of 14.16. 

The stock gave a return of 93.64% YTD. It closed at US$165.44 on November 11, 2021.          

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Independence Realty Trust, Inc. (NYSE: IRT)

Dividend – 1.94%

Annualized Dividend per share – US$0.48

The Philadelphia, Pennsylvania-based REIT owns and manages residential properties in the US. Its portfolio includes multifamily apartment properties across non-gateway US markets. It owned and operated 57 multifamily apartment properties containing 16,109 units at the end of September 30, 2021.

It earned revenue of US$60.78 million in the September quarter of 2021 compared to US$54.2 million in the same period a year ago. The net income was US$11.5 million or US$0.11 per share diluted compared to US$1.09 million or US$0.01 per share diluted in the September quarter of 2020.

Its market capitalization is US$2.6 billion, the P/E ratio is 86.76, and the forward P/E ratio for one year is US$31.45. The stock gave a return of 86.08% YTD. It closed at US$25.16 on November 11, 2021.

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Source – Pixabay

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National Storage Affiliates Trust (NYSE: NSA)

Dividend – 2.63%

Annualized Dividend per share – US$1.64

The Greenwood Village, Colorado-based NSA acquires, owns, and operates self-storage properties. Its property management platform managed around 348 consolidated properties and 177 unconsolidated real estate venture properties as of September 30, 2021.

For the three months ended on September 30, 2021, the company earned revenue of US$150 million, compared to US$110 million in the comparable quarter of 2020. Its net income was US$27 million or US$0.26 per share diluted, compared to US$10 million or US$0.15 per share diluted in the September quarter of 2020.

NSA’s market capitalization is US$5.5 billion, the P/E ratio is 70.53, and the forward P/E ratio for one year is 28.47. The stock gave a return of 72.27% YTD. It closed at US$62.07 on November 11, 2021.

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Bottomline

Limited house supplies and demand due to the work-from-home trend drove the US property prices to record highs. Analysts expect the prices to go further up with the increasing inventory and higher mortgage rates in the coming months. However, investors must exercise due diligence and survey the real estate market carefully before investing in stocks.