Home Depot
But, did you know there's a hack you could use to earn a 5.2% yield from both Home Depot and Lowe's? The hack is investing in one of Home Depot and Lowe's largest landlords.
Let's check it out.
Agree Realty Corporation
Agree Realty Corporation
Home Depot and Lowe's are both listed in Agree Realty's list of its 20 largest tenants in its most recent investor presentation, equating to a combined 4.1% of Agree Realty's annualized base rent.
So, by owning Agree Realty, you can generate monthly income that is partially attributable to Home Depot and Lowe's.
Agree Realty currently pays a monthly dividend of $0.247 per share, equating to an annualized dividend of $2.964 per share and giving its stock a yield of about 5.2% today.
On top of having a high yield, Agree Realty is a dividend-growth star. It has raised its annual dividend payment for 11 consecutive years, and it's already on track for 2024 to mark the 12th consecutive year with an increase.