Ushering in good news for its shareholders, EPR Properties (EPR) announced a hike of over 6% in its monthly dividend rate to 30.25 cents from 28.50 cents paid earlier. The new dividend will be paid on Feb 17, 2015 to shareholders of record as on Jan 30.
Shares of EPR Properties also scaled a new 52 week high of $62.76 during the NYSE’s regular trading session on Jan 16. Notably, the stock closed at $62.64, reflecting a gain of 32% over the past one year.
Based on the increased rate, the annualized dividend comes at $3.63 per share, resulting in an annualized yield of about 5.8%, considering EPR Properties' closing price on Jan 16.
EPR Properties has been consistent in enhancing its shareholders’ wealth with dividend payouts. In fact, this retail real estate investment trust’s (“REIT”) latest dividend hike marks its 6th consecutive year of an annual dividend raise.
We believe that EPR Properties’ dividend hike demonstrates its solid portfolio, which generates healthy cash flows, as well as its positive growth outlook. This Zacks Rank #2 (Buy) stock came up with an earnings surprise of 3.85% in the last reported quarter.
Solid dividend payouts are arguably the biggest attraction for REIT investors. Apart from EPR Properties, a number of other REITs also came up with dividend hike announcements, of late.
Among them, Cousins Properties Inc. (CUZ) announced a 7% hike in its quarterly dividend rate; Chatham Lodging Trust (CLDT) disclosed a 25% increase in its monthly dividend rate, while DDR Corp. (DDR) revealed an 11% rise in its quarterly dividend rate.
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