5 Best Dividend Aristocrats With Over 3% Yield

4. Federal Realty Investment Trust (NYSE:FRT)

Dividend Yield as of October 16: 4.84%

Federal Realty Investment Trust (NYSE:FRT) is a Maryland-based real estate investment trust company that mainly invests in shopping centers and related properties. On August 4, the company declared a 1% growth in its dividend, which represented its 55th consecutive year of dividend growth. The company holds the longest record of raising consecutive dividends in the REIT sector, which makes it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $1.08 per share and has a dividend yield of 4.84%, as of October 16.

In the second quarter of 2022, Federal Realty Investment Trust (NYSE:FRT) reported an operating cash flow of $157.4 million, up from $118.8 million during the same period last year. The company’s free cash flow came in at $48 million. It ended the first half of the year with $176.5 million in cash and cash equivalents, compared with $162 million a year ago.

In August, BofA upgraded Federal Realty Investment Trust (NYSE:FRT) to Buy and also raised the stock’s price target to $130. The firm mentioned that the company is expected to show growth as the Covid-related hindrances are removed.

As of the close of Q2 2022, 24 hedge funds tracked by Insider Monkey owned stakes in Federal Realty Investment Trust (NYSE:FRT), up from 23 in the previous quarter. These stakes have a consolidated value of nearly $200 million.