This Passive-Income Machine Has Hit the Accelerator

Stag Industrial (NYSE: STAG) churns out dividend income like clockwork. The real estate investment trust (REIT) pays a high-yielding monthly dividend. At 3.5%, it's more than double that of the S 500. Adding to its appeal, Stag Industrial has increased its dividend every year since it went public in 2011.

Slow and steady has been the name of the game for this industrial REIT over the years. But it has shifted into a higher gear this year, fueled by robust demand for industrial real estate. With more growth ahead, the REIT should have no trouble continuing to increase its high-yielding dividend.

Stag Industrial recently reported exceptional operating results for the second quarter and first half of 2024. The REIT's core funds from operations (FFO) per share surged 8.9% in the second quarter (and 7.1% in the first half), while its cash available for distribution jumped 9.1% (and 9% in the first six months). That's a meaningful acceleration from last year, when its core FFO rose by 4.7%, and its cash available for distribution increased by 5.4%.

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Source Fool.com