There are many options out there that offer a decent dividend yield, but only some of them are worth a buy in my opinion.
Here are four good options with yields over 4.5%:
Arena REIT No 1 (ASX: ARF)
Arena has been one of the best performing real estate investment trusts (REITs) over the last few years, with it growing its earnings and distribution per unit by around 10% a year for the past four years.
It aims to invest in growing industries such as childcare centres and medical buildings. It has a 100% occupancy rate, which is great compared to most REITs around.
Arena is currently trading with a distribution yield of 5.46%.
National Storage REIT (ASX: NSR)
National Storage is the largest self-storage provider in Australia.
Storage is going through a boom because of the high cost of real estate, making it a more affordable option.
National Storage currently has a distribution yield of 6.2%.
WAM Research Limited (ASX: WAX)
WAM Research is one of the listed investment companies (LICs) run by Wilson Asset Management.
It's a high-performing LIC that invests in undervalued growth companies that should hopefully beat the market. This LIC just invests in quality companies, compared to the other WAM LICs that take market-driven opportunities into account.
WAM Research is currently trading with a grossed-up dividend yield of 7.96%.
Japara Healthcare Ltd (ASX: JHC)
Japara is one of the largest aged care providers in Australia. The ageing demographics of Australia point to a strong tailwind for Japara, however there has been an issue with funding that has caused the share price to fall.
The fall in share price now means that Japara has a grossed-up dividend yield of 8.93%.
Foolish takeaway
All four shares should be good options for income, but Japara could be the one to offer the most capital growth over the next two years, so that's what I'd pick at the current prices.
