Why Getty Realty, Xcel Energy And Portland General Electric Are Winners For Passive Income

David Kirakosyan

Sun, Dec 8, 2024, 8:00 AM 5 min read

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Getty Realty, Xcel Energy and Portland General Electric have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of around 3-6%.

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Getty Realty

Getty Realty (NYSE:GTY) is a publicly traded, net lease REIT that specializes in the acquisition, financing and development of convenience, automotive and other single-tenant retail real estate. As of June 30, 2023, the company’s portfolio included 1,053 free-standing properties in 39 states and Washington, D.C.

Getty Realty has increased its dividends for the last 12 consecutive years. According to its most recent dividend announcement on Oct. 22, its board of directors raised the quarterly dividend by 4.40% to $0.47 per share, which is equal to $1.88 annualized. The dividend yield on the stock currently stands at 5.82%.

See Also: Unlock the hidden potential of commercial real estate — This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!

Getty Realty’s annual revenue (as of Sept. 30) stood at $198 million. According to the company’s most recent earnings release on Oct. 23, it posted Q3 2024 revenues of $51.47 million and adjusted Funds From Operations (AFFO) of $0.59. Both figures were above the consensus estimates.

How much would earning $100 monthly from Getty Realty stock take? Check out this article by Benzinga to learn more.

Trending: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?

Xcel Energy

Xcel Energy (NASDAQ:XEL) generates, purchases, transmits, distributes and sells electricity. It is also one of the largest renewable energy owners and suppliers in the U.S., with more than half its electricity sales coming from carbon-free energy. Xcel manages utilities serving 3.8 million electric customers and 2.1 million natural gas customers in eight states.

Xcel Energy has increased dividends every year for the last 21 years. On Feb. 21, it announced its most recent dividend hike, raising the quarterly dividend by 5.3% to $0.5475 per share, which is equal to an annual figure of $2.19 per share. The current dividend yield on the stock stands at 3.08%.

The company's annual revenue (as of June 30) stood at $13.8 billion. As per its most recent earnings release on Oct. 31, it posted revenues of $3.64 billion and an EPS of $1.25 for Q3 2024. Both figures came in below consensus estimates.

Trending: Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum.

Portland General Electric

Portland General Electric Company (NYSE:POR) is a regulated electric utility in Oregon that provides electricity generation, wholesale purchase, transmission, distribution and retail sales. It operates six thermal plants, three wind farms and seven hydroelectric facilities.

The company has consistently raised its dividends for the last 18 years. As per its most recent dividend hike announcement on April 19, the company increased the quarterly dividend by 5.3% to $0.50 per share, which is equal to an annual figure of $2 per share. The current dividend yield on the stock is 4.24%.

Portland General Electric’s annual revenue (as of Sept. 30) stood at $3.3 billion. According to its most recent earnings announcement on Oct. 25, it posted Q3 2024 revenues of $942 million and an EPS of $0.90. Both figures came in above the Street estimates.

Coca-Cola, mid-America Apartment Communities and Bank OZK are good choices for investors seeking reliable passive income. Their dividend yields of around 3-6% and long history of consistent hikes make them attractive to income-focused investors.

Check out this article by Benzinga for three more stocks offering high dividend yields.

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

You Can Profit From Real Estate Without Being A Landlord

Real estate is a great way to diversify your portfolio and earn high returns, but it can also be a big hassle. Luckily, there are other ways to tap into the power of real estate without owning property. Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, this one has a minimum investment of only $100.

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This article Why Getty Realty, Xcel Energy And Portland General Electric Are Winners For Passive Income originally appeared on Benzinga.com

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