Real Estate Investment Trusts

Real Estate Investment Trusts (REITs) are popular among income investors because they are required by law to distribute at least 90% of their taxable income to shareholders.

The following list is categorized by REIT type, as “high yield” in real estate often comes with varying levels of risk—particularly between Equity REITs (which own physical property) and Mortgage REITs (which own property debt).

High-Yield Mortgage REITs (mREITs)

These typically offer the highest yields (often 10%+) because they operate on high leverage and interest rate spreads. They are generally considered higher risk than equity REITs.

Ticker	Company Name	Approx. Yield (Late 2025)
ORC	Orchid Island Capital	~19.5%
ARR	ARMOUR Residential REIT	~16.7%
DX	Dynex Capital	~14.8%
AGNC	AGNC Investment Corp	~13.5%
NLY	Annaly Capital Management	~12.3%

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High-Yield Equity REITs

These REITs own and manage physical properties. While their yields are often lower than mREITs, they are usually backed by tangible assets and rental income.

Ticker	Company Name	Sector	Approx. Yield
GNL	Global Net Lease	Diversified	~15.3%
IIPR	Innovative Industrial Properties	Industrial (Cannabis)	~14.3%
GOOD	Gladstone Commercial	Diversified	~11.1%
PK	Park Hotels & Resorts	Hotel/Lodging	~9.2%
COLD	Americold Realty Trust	Industrial (Cold Storage)	~8.3%
DOC	Healthpeak Properties	Healthcare	~7.3%

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“Blue-Chip” Growth & Income REITs

These are frequently recommended for long-term investors. While their yields may not be the highest on the list, they have a history of consistent dividend growth and safer payout ratios.

• Vici Properties (VICI): Yields approximately 6.3%. They own major casino properties (like Caesars Palace) and have increased their dividend every year since 2017.
• Realty Income (O): Yields approximately 5.7%. Known as “The Monthly Dividend Company,” they have over 30 years of consecutive dividend increases.
• NNN REIT (NNN): Yields approximately 5.9%. Focuses on single-tenant retail properties with high occupancy rates and long-term leases.

Important Considerations

• Payout Ratio: Always check if the REIT’s Funds From Operations (FFO) covers the dividend. A yield over 15% can sometimes be a “yield trap,” signaling that the market expects a dividend cut.
• Interest Rates: REITs often struggle when interest rates rise (as their borrowing costs go up) and perform better when rates are falling.
• Taxation: REIT dividends are typically taxed as ordinary income rather than the lower “qualified” dividend rate, unless held in a tax-advantaged account like an IRA.