3 ASX 300 real estate shares with attractive dividend yields

It's dividend day for these three property players.

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If you're an Aussie investor hunting for reliable income from your ASX 300 shares, you're in luck. Today is dividend day for three real estate stocks. And at their current share prices, they currently offer attractive dividend yields.

Let's take a closer look at Growthpoint Properties Australia Ltd (ASX: GOZ), Abacus Group (ASX: ABG), and Stockland Corporation Ltd (ASX: SGP).

Growthpoint Properties

Growthpoint Properties has caught the eye of many investors today after it announced its final distribution amounts for FY 2024.

The ASX 300 share, which focuses on industrial and office properties, has seen its stock drop nearly 20% over the past year.

Today it confirmed a final distribution of 9.65 cents per share will be paid to its investors for FY 2024. This will bring the total payout for the 12 months to 19.3 cents.

At today's closing share price of $2.36, up 2.6%, this translates to a juicy dividend yield of 8.62%.

Abacus Group

Next up is Abacus Group, another ASX 300 share that made news today after it reaffirmed its latest dividend payment to shareholders.

In May, the company announced it expected the H2 FY 2024 distribution to be 50% franked and 8.9 cents per share for the year. Given today's closing share price of $1.16, this translates to a substantial yield of 7.2%.

It also said the group's parent entity boasts sufficient franking credits to "fully frank" its dividend to $173 million or 19.3 cents per security.

"The group's intention is to distribute these franking credits to security holders over the medium term", it said in the May announcement.

This change in distribution policy "is consistent with Abacus Group's strategy to simplify its corporate
structure, enhance its capital management and maximise securityholder returns", it added.

The ASX 300 share confirmed a dividend of 4.25 cents per share with a payment date of 30 August 2024.

Stockland Corporation

Stockland is the last of the ASX 300 shares to round out the list. It is one of Australia's largest REITs, with a market capitalisation of $10.5 billion at the time of writing.

Stockland advised today that its estimated distribution for the six months to 30 June 2024 should be 16.6 cents per ordinary stapled security.

The company noted this aligned with its full-year distribution guidance of 24.6 cents.

The team at Citi rates Stockland a buy with a price target of $5.10. According to my colleague James, the broker expects dividend growth for Stockland. It expects dividends of 26.2 cents in FY2024 and 26.6 cents in FY2025.

At today's share price of $4.41, these projections translate to yields of 5.9% and 6%, respectively.

What's next for these ASX 300 shares?

In summary, Growthpoint Properties, Abacus Group, and Stockland offer attractive dividend yields after their announcements today.

For Australian investors focused on income, these ASX 300 shares might be worth considering. As always, remember to conduct your own due diligence.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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