I added this company to my high-yield income portfolio this week. It announced that it has closed on the sale of four non-core outlet centers for gross proceeds of $130.5 million. The real estate investment trust has a strong real estate portfolio and very good dividend coverage for a seven percent yielding mall REIT. Shares are sensibly valued. An investment in the stock yields 7.0 percent.
Tanger Factory Outlet Centers (SKT) is an interesting shopping center real estate investment trust to consider on the drop. The REIT is dependent on the retail industry, but nonetheless has strong portfolio, diversification, and dividend coverage stats. Further, Tanger Factory Outlet Centers has grown its dividend consistently in the last 26 years, which makes the REIT a preferred income vehicle for DGI investors. Shares are sensibly valued and an investment in SKT yields 7.0 percent.
Source: Seeking Alpha
Related Articles:
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- 3 Low Beta, Higher Yielding Dividend Stocks For The Next Downturn
- 6 High-Yield REITs With Growing Dividends
- 26 Income Securities For A Well-Rounded Asset Allocation
- 5 Small/Mid-Cap Dividend Growth Stocks Answering The Call
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