This High-Yield Dividend Stock Continues to Show Why It's a Phenomenal Passive Income Investment
Agree Realty (NYSE: ADC) has a lot to offer income-seeking investors. The real estate investment trust (REIT) currently has a more than 4% dividend yield, putting it several times higher than the S&P 500's 1.3% yield. Investors get that income more frequently than other dividend stocks since Agree Realty makes monthly payments instead of quarterly ones. On top of all that, the retail property owner has a strong record of increasing its payment, with a 5.7% compound annual dividend growth rate over the past decade.
The REIT is in an excellent position to continue growing in the future, which was evident in its recently reported second-quarter results. It remains a phenomenal option for those seeking to generate passive income from real estate.
Agree Realty has continued its steady growth this year. The retail REIT's adjusted funds from operations (FFO) rose 6.4% in the second quarter to $1.04 per share. That boosted its first-half total to $2.07 per share, a 5.5% increase compared to the year-ago period. The REIT benefited from its continued investment in expanding its portfolio. It invested $343 million in 102 retail net lease properties this year, including $203 million to buy 70 properties in the second quarter.
Source Fool.com
