Yahoo Finance 3 Magnificent Dividend Stocks to Buy With $500 Today
Written by Amy Legate-Wolfe at The Motley Fool Canada
Looking for extra cash? There are many dividend stocks out there, but not all of them offer the chance of high dividends as well as returns. If you only have $500 to spend on investing today, you want to invest in companies that offer value and passive income through dividends right away.
This is why today we’re going to look at three dividend stocks that pay out monthly — companies that you can invest in at a deal as well. So, let’s get right into it.
NorthWest
NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is a publicly traded real estate investment trust (REIT) that specializes in owning and managing healthcare properties. It primarily focuses on owning and managing medical office buildings, clinics, and hospitals. The company’s portfolio includes properties in Canada, Brazil, Germany, Australia, and New Zealand.
The company aims to provide stable and growing cash distributions to its investors by acquiring and managing a diversified portfolio of healthcare real estate assets. The demand for healthcare services tends to be relatively stable regardless of economic conditions, making healthcare properties an attractive investment for income-seeking investors. In fact, its strategy typically involves long-term leases with reputable healthcare tenants, which provides a predictable revenue stream. Additionally, it may engage in strategic acquisitions and developments to expand its portfolio and enhance shareholder value.
Shares of the dividend stock remain down 37% in the last year but have climbed 30% since 52-week lows. So, while it continues to recover, you can still grab a dividend yield at 7.13% as of writing!
Dream Industrial
Another strong dividend stock proving monthly passive income is Dream Industrial REIT (TSX:DIR.UN). The company focuses on owning, managing, and operating a portfolio of industrial properties across North America and Europe. It primarily targets light industrial properties, distribution centres, and warehouses.
Furthermore, its portfolio consists of properties located in key industrial markets, including major metropolitan areas and transportation hubs. These properties are often strategically located near major highways, ports, airports, and rail terminals to facilitate efficient transportation and logistics operations for tenants. And with the benefit from trends such as e-commerce growth, increasing demand for logistics and warehousing space, and supply chain reconfigurations, this makes it an attractive investment option.
Shares of the dividend stock have been down 16% in the last year but have again risen slightly from 52-week lows. Meanwhile, you can bring in a dividend yield currently at 5.64%!
Extendicare
Finally, Extendicare (TSX:EXE) is another strong option among dividend stocks, especially when looking for value and long-term growth. The company operates through two segments: Extendicare Health Services and Extendicare Assist.
The first segment operates nursing care centres, retirement living centres, and home healthcare operations. It provides a range of services, including long-term care, assisted living, memory care, and rehabilitation therapy. The second segment manages the development, construction, and renovation of senior care facilities. Extendicare Assist also provides management, consulting, and development services to third-party owners and operators of senior care facilities.
The aging population makes this company incredibly attractive for investors, especially those seeking value and passive income from dividends. With shares offering a 6.62% dividend yield and up 27% since 52-week lows, it also looks like a strong option on the TSX today.
The post 3 Magnificent Dividend Stocks to Buy With $500 Today appeared first on The Motley Fool Canada.
Should you invest $1,000 in Dream Industrial REIT right now?
Before you buy stock in Dream Industrial REIT, consider this:
The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dream Industrial REIT wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.
Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $15,578.55!*
Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 32 percentage points since 2013*.
See the 10 stocks * Returns as of 3/20/24
More reading
Can You Guess the 10 Most Popular Canadian Stocks? (If You Own Them, You Might Be Losing Out.)
How to Build a Bulletproof Monthly Passive-Income Portfolio in 2024 With Just $25,000
Fool contributor Amy Legate-Wolfe has positions in NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool recommends Dream Industrial Real Estate Investment Trust and NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy.
2024
