A great thing about being a UK investor is the abundance of listed companies paying out passive income in the form of . ( ) is one example. The -listed real estate investment trust (REIT) owns and manages warehouses for some of the most recognisable retailers around.
These include , , and . That might sound very dull. But it proved to be anything but a few years ago.
Boring but beautiful As one might expect, this company hit a purple patch during the Covid-19 pandemic. The jump in online shopping and demand for logistics space caused the share price to rocket from just over 100p — when then-PM Boris Johnson first told us to get behind our doors — to 250p by the end of 2021. That’s a 150% gain in less than two years.
Oh, and the firm paid dividends over this period too. Speaking of which..
. Solid first half Based on today’s (7 August) set of half-year numbers, I think Tritax’s passive income credentials look as strong as ever. Contracted annual rent soared 34.
7% higher to £303.4m over the period. A good dollop of this could be attributed to rent reviews and the acquisition of .
The latter also boosted the total value of its portfolio by 27.2% to £6.4bn.
The most significant detail for me, however, was the 4.3% hike to the half-year dividend to 3.65p.
This is just the sort of thing any income investor wants to see! The consensus among analysts is that the company will dish out 7.71p per share in total for FY24. At today’s share price, this becomes a forecast of 4.
.