VREIT grows Q1 dividend
VistaREIT [VREIT 1.65 3.1%; 68% avgVol] [link] declared a Q1/23 dividend of P0.0392/share, payable on June 16 to shareholders of record as of May 31. The dividend is 1.6% larger q/q, and has an annualized yield of 9.5% based on the previous closing price, up from the previous pre-dividend annualized yield of 9.36%.
The total amount of the dividend, P294 million, is 100% of VREIT’s Q1 distributable income. Relative to VREIT's IPO price, the dividend increased VREIT's total stock and dividend return to 2.86%, up from its pre-dividend total return of 0.62%.
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It’s notable that VREIT is one of only four REITs that has never declared a “down” dividend (the others being AREIT [AREIT 34.40 0.7%; 102% avgVol], RL Commercial REIT [RCR 5.83 1.2%; 46% avgVol], and Citicore Energy REIT [CREIT 7.00; 117% avgVol]).
This is the third consecutive increase building off of that first dividend back in Q2/22.
VREIT is essentially tied with PREIT [PREIT 1.53 0.7%; 14% avgVol] for the highest annualized yield on the PSE, though PREIT is only one of two REITs that have yet to declare Q1 dividends (the other is DDMP [DDMPR 1.30 0.8%; 44% avgVol]).
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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