Imagine this scenario — three very different real estate investment trusts (REITs) priced between $3.50 and $7.15 per share. All three REITs sport dividend yields between 6% and 16.85%, and all three have recent price gains between 13% and nearly 22%.
Does this sound far-fetched or maybe even impossible? Take a look at three REITs that fit these criteria on all three measures:
Creative Media & Community Trust Corp. (NASDAQ: CMCT) is a Dallas-based office REIT that acquires, operates and develops premier office, hotel and multifamily residential properties in fast-growing communities. Many of its 19 properties are located in Texas and California.
Over the past five days, Creative Media & Community Trust is up 21.8%. What’s pushing the stock higher is an offer it received from Daniel Negari to acquire the company and all of its outstanding stock shares. Negari sent a letter to Creative Media’s board of directors stating his intention to offer $8.88 per share. In addition to being critical of the board’s recent capital allocation decisions, Negari wrote that he intends to evaluate all of his options and take appropriate action if he does not receive a favorable response to his proposal.
The offer to purchase Creative Media & Community Trust for $8.88 per share is 72% above its most recent closing price of $5.14.
On April 17, EF Hutton delivered another boost for Creative Media & Community Trust by maintaining its Buy rating on the REIT and raising its price target to $7.
The quarterly dividend is $0.085 per share, and the annual $0.34 dividend yields 6.61%.
Strawberry Fields REIT Inc. (NYSEAMERICAN: STRW) is a self-managed and self-administered healthcare REIT that owns and operates 79 triple-net skilled nursing facilities, assisted living and other post-acute healthcare properties in Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio and a few others.
On April 12, Strawberry Fields CEO Moishe Gubin purchased a total of 3,500 shares of Strawberry Fields REIT stock at an average price of $5.90. The total price was approximately $20,650.
Over the past five days, Strawberry Fields is up 20.78%. The quarterly dividend is $0.11, and the $0.44 annual dividend yields 6.15% on its recent price of $7.15.
Uniti Group Inc. (NASDAQ: UNIT) is a Little Rock, Arkansas-based specialty REIT that acquires and constructs mission-critical communications infrastructure in the form of fiber optics, copper and coaxial broadband networks.
Uniti Group owns and operates 135,000 fiber route miles covering 275,000 commercial buildings, with most of its network in the Eastern and Midwestern portions of the U.S. It’s one of the 10-largest fiber providers in the U.S. today. Leasing fiber optics to anchor customers generates about 70% of its revenue.
Over the past five days, Uniti Group is up 13.02%.
Unity Group President and CEO Kenny Gunderman purchased 225,000 shares of Uniti Group valued at $983,250 in the first week of March.
Also in March, Uniti Group announced it had reworked its credit facility agreement to extend the maturity date of each lender’s commitment.
The quarterly dividend is $0.15, and the $0.60 annual dividend yields 18.02% on its recent closing price of $3.58.
Investors should note that low-priced REITs can be quite volatile. Do your due diligence before making a purchase of any low-priced stock.
Over the past five years, private market real estate investments have outperformed the publicly traded REIT market by about 50%. Check out Benzinga’s Real Estate Offering Screener to discover the latest passive real estate investments.
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This article 3 Low-Priced REITs With High Yields That Are On Fire originally appeared on Benzinga.com
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