12 Best REIT Dividend Stocks To Buy for 2024

3. Federal Realty Investment Trust (NYSE:FRT)

Number of Hedge Fund Holders: 36

Federal Realty Investment Trust (NYSE:FRT) mainly invests in shopping centers and entertainment properties. The company, while operating as a typical REIT, stands out due to its focus on quality over quantity. By September 2024, the company owned only 102 properties, all located in prime areas. Federal Realty strategically targets properties in major metropolitan regions with high population densities and affluent demographics. This approach has proven beneficial, especially during the pandemic, when tenants seeking better locations moved into its premium properties, allowing Federal Realty to avoid the occupancy challenges faced by many other companies. The stock has delivered a nearly 9% return to shareholders since the start of 2024.

Federal Realty Investment Trust (NYSE:FRT) reported third-quarter 2024 revenue of $303.3 million, marking a 6% year-over-year increase and surpassing analysts’ estimates by $1.85 million. The company completed 126 leases covering 580,977 square feet of comparable retail space, achieving a 14% boost in cash-based rents and a 26% increase on a straight-line basis. Net income attributable to common shareholders rose to $58.9 million, up from $55 million in the same quarter last year.

Currently, Federal Realty Investment Trust (NYSE:FRT) offers a quarterly dividend of $1.10 per share, with a dividend yield of 3.88%, as of December 12. Boasting a dividend growth streak of over 56 years, FRT stands out as one of the best dividend stocks. Its long history of consistent dividend increases and appealing yield make it a favored choice among investors.

As per Insider Monkey’s database of Q3 2024, 36 hedge funds held stakes in Federal Realty Investment Trust (NYSE:FRT), showing an increase from 24 in the previous quarter. These stakes are worth nearly $302 million in total.