One sector that has generated tremendous amounts of wealth for many individuals is the real estate sector. That said, many investors tend to stay away from the real estate sector because of the hassles of managing a property. A great way to invest without being a landlord is to look for a monthly dividend stock in the real estate investment trust (REIT) sector. Investing in REITs is a great way to receive a piece of the cash flow without being a landlord. When looking at REITs, it’s all about who is occupying the space, because that is the number-one factor that affects the dividend payments to shareholders.
I have found a REIT that meets these conditions, and that would be classified as a monthly dividend stock. I’m talking about Granite Real Estate Investment Trust (NYSE:GRP.U). Currently, Granite’s portfolio contains 94 income-producing properties in North America and Europe. The largest tenant in the portfolio is Magna International Inc. (NYSE:MGA), which currently accounts for 79% of Granite’s earnings. Magna is the fourth-largest automotive supplier in the world, operating in over 30 countries around the globe, with a market cap of approximately $14.0 billion.
Source: Income Investor
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