In a recent tweet, Tesla founder Elon Musk spoke about owning tangible items as investments. While the rare art and expensive wine that he cited are probably not the ticket for average investors, buying real estate does make sense. It is the ultimate tangible item. As the saying goes, they aren’t making any more land.
Some real estate investment trusts (REITs) can be sensitive to rising interest rates, but there are sectors in that arena, as Benzinga noted in a story on Musk and his investment thoughts: “While Musk referenced owning a home, real estate, in general, performs well for investors during years of high inflation. Specifically, single-family homes, multifamily, self-storage and farmland.”
We focused on the top apartment and self-storage REITs, especially apartments where rents are soaring and people once looking to buy homes are reconsidering and backing away due to the jump in mortgage rates. We found seven stocks that have been hammered during the recent market decline and that all pay solid dividends and are Buy rated at major Wall Street firms.
The post Elon Musk Is Right About Real Estate: 7 REITs With Solid And Dependable Dividends appeared first at 24/7 Wall St.