It's been a big couple of months for ASX dividend investors.
According to CommSec, companies in the S&P/ASX 200 Index (ASX: XJO) declared more than $42 billion worth of dividends in the recent ASX reporting season.
Now, a lot of these ASX 200 shares are turning ex-dividend, taking away entitlements to their upcoming dividend payments.
But a particular subset of ASX 200 shares will be in focus tomorrow: real estate investment trusts (REITs).
See, ASX REITs typically pay quarterly dividends (also known as distributions). And within the last couple of weeks, many have declared their distributions for the quarter ending 30 September 2022.
Tomorrow, more than a dozen ASX REITs will be going ex-dividend. And in the process, taking their unfranked dividends off the table.
Five, in particular, are members of the ASX 200 index. Let's check them out.
Charter Hall Long WALE REIT (ASX: CLW)
The largest ASX REIT by market capitalisation going ex-dividend tomorrow is the Charter Hall Long WALE REIT.
This REIT focuses on high-quality real estate on long-term leases, investing in around 550 properties in Australia and New Zealand with long weighted average lease expiry (WALE) periods.
As of tomorrow, the Charter Hall Long WALE REIT will no longer trade with rights to receive a quarterly distribution payment of 7 cents on 11 November.
Pleasingly for investors, REITs often provide specific guidance for the year ahead. In terms of dividends, the CLW REIT is expecting to declare total distributions of 30.5 cents in FY23, up 4% from the prior year. This represents a dividend yield of 7.7%.
HomeCo Daily Needs REIT (ASX: HDN)
Next up, HomeCo is another ASX 200 REIT turning ex-dividend tomorrow. This REIT focuses on convenience-based assets across the subsectors of neighbourhood retail, large format retail, and health and services.
Think local town centres and shopping strips. Its top three tenants by gross income are Woolworths Group Ltd (ASX: WOW), Bunnings, and Coles Group Ltd (ASX: COL).
Tomorrow, HomeCo shares will be trading without entitlements to the latest quarterly distribution of 2.075 cents, which will be paid "on or about" 25 November. The REIT also has a dividend reinvestment plan (DRP) available.
Looking ahead, HomeCo is guiding for FY23 distributions of 8.3 cents, relatively in line with the most recent financial year. At current levels, this equates to a dividend yield of 7.3%.
Waypoint REIT Ltd (ASX: WPR)
The next cab off the rank is Waypoint, a REIT that focuses on petrol station assets around the country. Waypoint shares will be trading tomorrow without a quarterly distribution of 3.95 cents, which will be paid on 15 November.
Waypoint recently announced its first-half 2022 results, reiterating FY22 distribution guidance of 16.44 cents. This would be a 4% hike from the prior year and represents a dividend yield of 7.1%.
Centuria Industrial REIT (ASX: CIP)
Centuria Industrial is another ASX 200 REIT turning ex-dividend tomorrow. CIP is Australia's largest domestic pure-play industrial REIT, with most of its 88 industrial assets located along the eastern seaboard of Australia.
Today will be the final day that the Centuria Industrial REIT will be trading with its latest quarterly distribution of 4 cents. For now, the REIT has flagged a payment date of 28 October.
In FY22, the Centuria Industrial REIT declared total distributions of 17.3 cents. The REIT is guiding for FY23 distributions of 16 cents, down 8% year over year, representing a dividend yield of 6.2% based on current prices.
Arena REIT (ASX: ARF)
Last but not least, the Arena REIT will also be trading ex-dividend tomorrow. This REIT focuses on social infrastructure properties, which are leased to a diversified tenant base in the childcare and healthcare sectors.
From tomorrow onwards, Arena will no longer be trading with its latest quarterly distribution of 4.2 cents. The payment date has been pencilled in for 3 November. A DRP is also available for shareholders who wish to participate.
When announcing its full-year results last month, Arena provided FY23 distribution guidance of 16.8 cents. This would represent 5% growth from the prior year and spins up a dividend yield of 4.8%.
