Some investors seem to take a gambling attitude when it comes to stocks, trying to strike it rich by taking on huge amounts of risk in things like meme stocks. That may work, if you are lucky, but it could also leave you with a ton of red ink if your timing is off or you don't end up picking the right few stocks. A far less stressful approach is to focus on building a strong and steady flow of passive income with names like Federal Realty (FRT 1.71%) and National Retail Investors (NNN 0.86%). Here's why these real estate investment trusts (REITs) can help you get rich the slow and steady way.

The most impressive history

Federal Realty has increased its dividend annually for 54 consecutive years, a streak that's longer than that of any other REIT -- putting it in the elite category of Dividend Kings. You don't achieve a record like that by accident. Management clearly puts a high priority on returning cash to investors via dividends. The current dividend yield is roughly 4.5%.

Federal Realty's portfolio is basically broken down into two broad categories: strip malls (around 65% of rents) and mixed-use developments (the remainder). The portfolio is fairly small at just over 100 properties, but they are all very well located in population-dense regions with high average incomes. Development and redevelopment are key focuses for management, as it looks to buy properties that it can invest in over time to increase their value. Notably, on the mixed-use side of things, the company's development plans tend to span many years, providing attractive internal growth opportunities even during difficult times.

Federal Realty is not a get-rich-quick investment, but if history is any guide, it is one that will reward you with a generous and growing dividend for many, many years to come. Getting rich slowly may not be as sexy as owning the currently hot meme stock, but it won't be nearly as risky, either, given that meme stocks have proven prone to imploding. All the while, Federal Realty will just keep paying you well to stick around.

The company you keep

It's a trope, but parents have throughout history warned their kids that the company they keep says a lot about them to other people. That's interesting here because of the company National Retail Properties keeps by focusing on necessity-based retail properties. It has increased its dividend annually for 32 consecutive years, making it a Dividend Aristocrat. But the really notable thing is that between 2007 and 2021, 71% of its investments were made with companies it already counted as tenants. Simply put, it has been able to reliably grow by working with growing retail companies with whom it already had a relationship.

For the most part, National Retail Properties owns generic buildings that are fairly simple to sell or release. So, even if there's a problem with a tenant, the REIT still has options. However, the reliable and growing dividend proves that this hasn't been a material issue, even in the face of headwinds like a global pandemic. Adding to the allure is that National Retail is a net-lease REIT, which means its tenants are responsible for most of the operating costs of the properties they lease. It's a fairly low-risk way to invest in property when spread over a large enough portfolio (National Retail owns over 3,200 properties).

With a relationship-focused model, National Retail has proven it knows how to pick good tenants and grow alongside them. That's not going to make you rich tomorrow, but a steady dividend and regular dividend increases are a surefire way to reliably build your wealth over time. The REIT's dividend yield is 5.1% today.

Be the tortoise

When it comes to investing, capital gains often get the most attention. But don't overlook the value of passive income streams that grow steadily over time, like what Federal Realty and National Retail Properties offer. It's a tried and true way to build wealth, albeit slowly.