This 5.9%-Yielding REIT Recently Raised Its Dividend By 4%, And There's Room For More

This REIT recently increased its quarterly cash dividend by 4 percent. The "retail apocalypse" is widely exaggerated. It has potential to grow its dividend even more, thanks to a wider-than-expected margin of dividend safety. I see the company as a contrarian REIT bet. An investment in the stock yields 5.9 percent.

Kimco Realty Corp. (KIM) is a much better REIT than many investors think it is. The commercial REIT has performed poorly in 2017, largely thanks to exaggerated claims about a pending "retail apocalypse." However, digging into the REIT's financials reveals that Kimco Realty has rather good dividend coverage stats and the dividend has a lot of room to grow. I continue to see Kimco Realty as a contrarian REIT investment that has the potential to surprise to the upside.

Source: Seeking Alpha

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