PSA - 3 Soaring Dividend Stocks I Would Buy Even in a Recession
Many REITs were down big earlier this year due to fears surrounding interest rates and lack of demand. But for some, the market settled around June, and the turnaround began. Interest rates are still rising (and will probably stay high for the foreseeable future), but demand isn't going down for all real estate. When market sentiment turns sour, the stocks of good performers sometimes get thrown out like the baby with the bathwater.
Three real estate investment trusts (REITs) -- Federal Realty Investment Trust (NYSE: FRT) , Agree Realty (NYSE: ADC) , and Public Storage (NYSE: PSA) -- have rebounded from their 2022 lows and have businesses that can resist a future economic recession or prolonged inflationary period.
At one point, Federal Realty was down more than 30% on the year. It has since risen from that low price of around $94 per share to almost $105. The rebound came thanks to record funds from operations (FFO) numbers, a 92% occupancy rate, and comparable property income growth of 8.2% in the second quarter.
For further details see:
3 Soaring Dividend Stocks I Would Buy Even in a Recession