14 REITs Increasing Dividends Annually

(Updated with Realty Income's increased dividend information.)

NEW YORK ( TheStreet) -- Dozens of real estate investment trusts pay dividends to their shareholders, but it takes a special breed to consistently raise that payout year after year.

There are 14 REITs that increased their dividends every year for the last 10 years.

"It's of striking interest to note that a majority of REITs with the highest dividend growth that past 10 years had some of the best share appreciation as well," Gregory W. Genovese, president of Pacific Valley Realty Capital, told TheStreet.

The winning dividend-paying all-star REIT is Federal Realty Investment Trust ( FRT), an equity REIT based in Rockville, Md. that specializes in retail and mixed-use properties, mostly in the Northeast and Mid-Atlantic regions, as well as in California.

Federal upped its shareholder dividend every year for the past 43 consecutive years, an impressive feat. Most recently, the REIT raised its payout by a penny per share to 67 cents, payable Oct. 15 to common shareholders of record as of Sept. 23, according to its second-quarter earnings report.

Federal is among REITs that "stand-out and have navigated differing market conditions with exemplary prowess," Genovese said. "Investment history proves to us that those with strong management, well thought-out business plans with the ability to be flexible enough to augment strategy and tactics and do not get seduced into overleveraging during times of loose monetary policy win time and time again."

Firms like Federal and other REITs that made TheStreet's list "have been able to incorporate the use of taking advantage of opportunities quickly, and stay true to their long-term conservative goals evidenced by their outstanding management and track records."

Here then is the rest of the list, ranked by years of consecutive increases, from smallest to greatest, according to data from DividendInvestor.com.

Urstadt Biddle Properties

Urstadt Biddle Properties ( UBA)

Company Profile

Urstadt Biddle Properties is a Greenwich, Conn.-based real estate investment trust engaged in the acquisition, ownership and management of commercial real estate, mainly neighborhood and community shopping centers in the northeastern part of the United States.

Years of consecutive dividend increases: 11 years

Quarterly dividend: 24 cents per share

Dividend pay date: Oct. 15, 2010

Current dividend yield: 5.3%

Investors Real Estate Trust

Investors Real Estate Trust ( IRET)

Company Profile

Investors Real Estate Trust is a Minot, N.D.-based company engaged in the ownership and operation of income-producing real estate properties.

Years of consecutive dividend increases: 11 years

Quarterly dividend: 17 cents per share

Dividend pay date: Oct. 1, 2010

Current dividend yield: 8.2%

Corporate Office Properties Trust

Corporate Office Properties Trust ( OFC)

Company Profile

Corporate Office Properties Trust is a Columbia, Md.-based specialty office real estate investment trust, which focuses mainly on strategic customer relationships & specialized tenant requirements in the US Government, defense information technology & data sectors.

Years of consecutive dividend increases: 12 years

Quarterly dividend: 39 cents per share

Dividend pay date: July 15, 2010

Current dividend yield: 4.1%

Realty Income

Realty Income ( O)

Company Profile

Realty Income is an Escondido, Calif.-based equity real estate investment trust. The Company has in-house acquisition, leasing, legal, credit research, real estate research, portfolio management and capital markets expertise.

Years of consecutive dividend increases: 12 years

Consecutive quarterly dividend increases: 52 quarters

Monthly dividend: 14.39 cents per share

Dividend pay date: Sept. 15, 2010

Current dividend yield: 5.1%

Taubman Centers

Taubman Centers ( TCO)

Company Profile

Taubman Centers is a Bloomfield Hills, Mich.-based REIT engaged in the ownership, management, leasing, acquisition, disposition, development and expansion of regional and super-regional retail shopping centers.

Years of consecutive dividend increases: 13 years

Quarterly dividend: 42 cents per share

Dividend pay date: Sept. 30, 2010

Current dividend yield: 3.7%

Essex Property Trust

Essex Property Trust ( ESS)

Company Profile

Essex Property Trust is a Palo Alto, Calif.-based self-administered and self-managed REIT that acquires, develops, redevelops and manages apartment communities in selected residential areas located primarily in the West Coast of the United States.

Years of consecutive dividend increases: 15 years

Quarterly dividend: $1.03

Dividend pay date: Oct. 15, 2010

Current dividend yield: 3.7%

Home Properties

Home Properties ( HME)

Company Profile

Home Properties is a Rochester, N.Y.-based company engaged mainly in the ownership, management, acquisition, rehabilitation and development of residential apartment communities mainly in select Northeast, Mid-Atlantic and Southeast Florida regions of the United States.

Years of consecutive dividend increases: 15 years

Quarterly dividend: 58 cents per share

Dividend pay date: Aug. 26, 2010

Current dividend yield: 4.5%

Tanger Factory Outlet Centers

Tanger Factory Outlet Centers ( SKT)

Company Profile

Tanger Factory Outlet Centers is a Greensboro, N.C.-based fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning, operating and managing factory outlet shopping centers.

Years of consecutive dividend increases: 16 years

Quarterly dividend: 39 cents per share

Dividend pay date: Aug. 13, 2010

Current dividend yield: 3.3%

UDR

UDR ( UDR)

Company Profile

UDR is a Highlands Ranch, Colo.-based self administered real estate investment trust that owns, acquires, renovates, develops and manages apartment communities nationwide.

Years of consecutive dividend increases: 19 years

Quarterly dividend: 19 cents per share

Dividend pay date: Nov. 1, 2010

Current dividend yield: 3.5%

HCP

HCP ( HCP)

Company Profile

HCP is a Newport Beach, Calif.-based self-administered, real estate investment trust, which acquires, develops, leases, manages and disposes of healthcare real estate and provides financing to healthcare providers.

Years of consecutive dividend increases: 19 years

Quarterly dividend: 47 cents per share

Dividend pay date: Aug. 24, 2010

Current dividend yield: 5.1%

National Retail Properties

National Retail Properties ( NNN)

Company Profile

National Retail Properties is an Orlando, Fla.-based fully integrated real estate investment trust that operates in two segments: investment assets and inventory real estate assets.

Years of consecutive dividend increases: 19 years

Quarterly dividend: 38 cents per share

Dividend pay date: Aug. 16, 2010

Current dividend yield: 6%

Universal Health Realty Income Trust

Universal Health Realty Income Trust ( UHT)

Company Profile

Universal Health Realty Income Trust is a King of Prussia, Penn.-based REIT that invests in health care and service-related facilities including acute care hospitals, behavioral healthcare facilities, rehabilitation hospitals, sub-acute facilities, surgery centers, childcare centers and medical office buildings.

Years of consecutive dividend increases: 19 years

Quarterly dividend: 61 cents per share

Dividend pay date: Sept. 30, 2010

Current dividend yield: 7.5%

Washington Real Estate Investment Trust

Washington Real Estate Investment Trust ( WRE)

Company Profile

Washington Real Estate Investment Trust is a Rockville, Md.-based REIT engaged in the ownership and operation of income-producing properties in the greater Washington metro region.

Years of consecutive dividend increases: 40 years

Quarterly dividend: 43 cents per share

Dividend pay date: Sept. 30, 2010

Current dividend yield: 5.5%

Federal Realty Investment Trust

Federal Realty Investment Trust ( FRT)

Company Profile

Federal Realty Investment Trust is a Rockville, Md.-based equity real estate investment trust specializing in the ownership, management, development and redevelopment of retail and mixed-use properties.

Federal upped its shareholder every year for the past 43 consecutive years, an impressive feat. Most recently, the REIT raised its payout by a penny per share to 67 cents, payable Oct. 15 to common shareholders of record as of Sept. 23, according to its second-quarter earnings report.

Years of consecutive dividend increases: 43 years

Quarterly dividend: 67 cents per share

Dividend pay date: Oct. 15, 2010

Current dividend yield: 3.3%

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

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