5 Best REIT Dividend Stocks

In this article, we discuss 5 best REIT dividend stocks. If you want to read our detailed analysis of the REIT sector and its performance over the years, go directly to read 10 Best REIT Dividend Stocks. 

5. CubeSmart (NYSE:CUBE)

Dividend Yield as of October 11: 4.51%

CubeSmart (NYSE:CUBE) is an American self-managed real estate investment trust company that operates 1,200 self-storage facilities. In Q2 2022, the company posted an operating cash flow of $154 million, compared with $125.5 million during the same period last year. The company’s same-store occupancy during the quarter was 95.3%. Moreover, it generated $248.6 million in revenues, up 24.8% from the prior-year quarter.

On July 26, CubeSmart (NYSE:CUBE) declared a quarterly dividend of $0.43 per share, in line with its previous dividend. In 2021, the company extended its dividend growth streak to 12 years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield came in at 4.51%, as of October 11.

In August, Raymond James raised its price target on CubeSmart (NYSE:CUBE) to $58 with an Outperform rating on the shares. The firm appreciated the company’s better performance than its peers and attractive valuation.

At the end of Q2 2022, 18 hedge funds tracked by Insider Monkey reported owning stakes in CubeSmart (NYSE:CUBE), compared with 29 in the previous quarter. The collective value of these stakes is roughly $245 million. Among these hedge funds, Diamond Hill Capital was the company’s leading stakeholder in Q2.