Today we’ve got a couple quick dividend investments to take a look at, one which is being hinted at by a newsletter writer as a current pick with a high yield, and another one that I’ve personally been looking at as a way to diversify my REIT position a little bit.

I’m already a bit overweight in REITs, but not so much in “regular” real estate REITs like office buildings and retail — a lot of that stuff worries me, particularly the mall retail where we seem to be horribly overbuilt, but I should probably have more of a real estate presence in my portfolio that’s really real estate-focused. Currently my REIT holdings are very overweighted in health care REITs, which are really a separate sector that is driven by different things than real estate in general, and I also have meaningful positions in Retail Opportunity Investments Corp (ROIC), which is a strip mall/grocery mall REIT out west that I own because of management and because of their consistent performance, and Coresite Realty (COR), the data center REIT I’ve written about for you a number of times and like largely because of the huge dividend growth rate (and future dividend growth potential), but which doesn’t really have much to do with the real estate economy (though it does get influenced by interest rate sentiment changes, as all income investments do).

I’ve also written to you about Crown Castle (CCI) a few times, and that remains an appealing cell tower REIT… but also not really a “normal” real estate investment, though I haven’t actually bought shares just yet. And, well, times are tough for dividend investors so anything that yields 4% or more is going to get quite a bit of interest.

So what are the REITs I wanted to take a look at today? I don’t currently own either one, but I’m taking a gander at a risky REIT which has had a huge run and is being teased by Briton Ryle over at Wealth Daily… and at a pretty boring REIT that has some interesting diversification across the sector and may well benefit if REITs do get a general “lift” from the creation of the new S&P REIT sector following the removal of REITs from the financial sector.

The one being pitched by Briton Ryle is a little bit like a mashup between a ...