Got $1,000? Turn That Into a Passive Income Stream With These Magnificent Dividend Stocks
After several lean years, income-focused investors have many more options following a significant interest rate surge. Higher rates make lower-risk income investments like bank CDs and bonds more attractive. It has also weighed on the valuation of many dividend-paying stocks, pushing up their yields.
Because of that, investors can turn idle cash into an even bigger passive income stream. Three magnificent dividend stocks for income seekers are Crown Castle (NYSE: CCI), Community Healthcare Trust (NYSE: CHCT), and VICI Properties (NYSE: VICI). Each can turn $1,000 into an attractive and growing dividend income stream.
Crown Castle's stock has fallen 40% from its 52-week high, weighed down by rising rates and some customer-related headwinds. That has pushed the communication infrastructure REIT's dividend yield up to 5.5%. Crown Castle would turn a $1,000 investment into $55 of annual dividend income at that rate. That same investment in an S 500 index fund would produce about $17 of annual passive income.
Source Fool.com
