Hoya Capital

High-Dividend REITs by Reported Yield

A data screen of equity and mortgage REIT dividend yields

This high-dividend REIT list organizes Hoya Capital's covered real estate investment trusts by their reported dividend yields. It brings company identity, sector, market capitalization, yield, FFO payout ratio and payment frequency into one table. The purpose is to make the source observations readable together, with the selection rules and data date visible alongside the results.

The ranking is a screen of the database, not a judgment about whether a security belongs in a portfolio. A company appears because it satisfies the stated classification and yield rules and ranks within the page's size limit. The screen does not assess an investor's objectives, financial circumstances, risk tolerance or tax position, and it does not assign buy or sell ratings.

Equity REIT and mortgage REIT classifications are included. Non-REIT operating-company groups and fund records are excluded before ranking. The property-sector label helps distinguish the different kinds of records that remain in the screen; it should not be read as proof that two companies have identical businesses or financial reporting. Canadian REIT records can also appear because the dataset extends beyond US-listed companies.

The table presents the source payout ratio and payment frequency as context rather than selection scores. A missing payout entry is shown explicitly as Not reported, and no missing number is treated as zero. The yield display is rounded for readability, while the ranking uses the unrounded source values. Payment frequency is kept separate from dividend yield so a monthly payment label cannot be mistaken for a monthly return.

For a screen restricted to monthly payment labels, open the monthly dividend REIT list. The existing Top 25 page provides a separate view, and the REIT database and sector research pages offer broader company and property-sector context. All of these resources are informational. The methodology below explains the scope, exclusions and update convention for this particular list.

REITs ranked by reported dividend yield

Updated October 19, 2026 at 11:00 AM ET

REITs ranked by reported dividend yield
RankCompanyTickerProperty SectorMarket CapDividend YieldFFO PayoutFrequency
1Invesco MortgageIVRResidential mREIT$0.59B27.22%80.00%Monthly
2Arbor RealtyABRCommercial mREIT$0.54B26.46%200.00%Quarter
3Orchid Island CapitalORCResidential mREIT$0.98B24.90%120.00%Monthly
4Redwood TrustRWTResidential mREIT$0.38B24.66%80.00%Quarter
5PennyMac MortgagePMTResidential mREIT$0.60B23.74%130.00%Quarter
6ARMOUR ResidentialARRResidential mREIT$1.87B22.70%100.00%Monthly
7MFA FinancialMFAResidential mREIT$0.66B22.40%110.00%Quarter
8Chimera InvestmentCIMResidential mREIT$0.70B21.84%90.00%Quarter
9Chicago AtlanticREFICannabis$0.24B20.57%100.00%Quarter
10Dynex CapitalDXResidential mREIT$2.71B19.37%140.00%Monthly
11Blackstone MortgageBXMTCommercial mREIT$1.76B18.38%130.00%Quarter
12TPG Mortgage (AG)MITTResidential mREIT$0.17B18.36%80.00%Quarter
13Sunrise RealtySUNSCommercial mREIT$0.09B18.18%110.00%Quarter
14Angel Oak MortgageAOMRResidential mREIT$0.17B18.05%100.00%Quarter
15Ares CommercialACRECommercial mREIT$0.19B18.02%200.00%Quarter
16Seven Hills (Tremont)SEVNCommercial mREIT$0.15B17.89%110.00%Quarter
17Brightspire Capital (Colony)BRSPCommercial mREIT$0.47B17.63%120.00%Quarter
18AGNC InvestmentAGNCResidential mREIT$10.3B16.92%100.00%Monthly
19TPG RE FinanceTRTXCommercial mREIT$0.44B16.84%90.00%Quarter
20Annaly CapitalNLYResidential mREIT$13.7B16.81%100.00%Quarter
21Cherry Hill MortgageCHMIResidential mREIT$0.09B16.13%70.00%Quarter
22Adams Mortgage (NYMT)ADAMResidential mREIT$0.69B16.09%100.00%Quarter
23Starwood PropertySTWDCommercial mREIT$4.60B16.01%110.00%Quarter
24Apollo CommercialARICommercial mREIT$0.82B15.82%200.00%Quarter
25Innovative IndustrialIIPRCannabis$1.45B14.65%110.00%Quarter

How the high-dividend list is selected

This list selects up to 25 companies classified as equity or mortgage REITs in the Hoya Capital database, ordered by reported dividend yield from highest to lowest. Ticker order resolves equal yields. It is a mechanical screen of the covered dataset, not a rating, a model portfolio or a recommendation. There is no minimum market capitalization and no additional quality score.

The screen excludes the database's non-REIT company groups, including BDCs, energy and MLP companies, homebuilders, land developers, real estate brokers and technology companies, asset managers, real estate operators, recreational vehicle and manufactured housing businesses, and land owners. Index funds and rows identified as ETFs are also excluded. EARN is excluded because it converted to Ellington Credit Company and is no longer a REIT, despite its stale source classification. The universe includes Canadian REIT records as well as US-listed companies; it is not restricted to a US-only universe.

A company needs a reported dividend yield greater than zero and no more than 50% to qualify. Missing, zero, negative and above-limit yields are excluded. This bound screens out unusable source values; it is not a statement that a yield within the range is sustainable. The database stores yields as fractions, which are multiplied by 100 for display. Rankings use the full source precision before rounding.

Payout is the source FFO payout ratio, displayed as a percentage without changing its denominator or substituting an earnings payout measure. Not reported means the corresponding source field is empty. Frequency is the source payment label. The update line uses the oldest refresh timestamp among the displayed rows, so it does not imply that an older observation is newer than it is. The list can change when the underlying records change.

Source: Hoya Capital's REIT and real estate company database. Classifications, dividend yields, payout ratios and payment frequencies reflect the source records at the displayed update date.

Nothing on this site nor any commentary published by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Investing involves risk. Loss of principal is possible.

Frequently Asked Questions

What does high dividend mean on this list?

It means a higher reported dividend yield relative to the other eligible companies in this database screen. The page sorts by that single field and shows up to 25 rows. It does not rank business quality, dividend safety, expected returns or suitability for any investor.

Is the highest-yielding REIT a recommendation?

No. A yield rank describes one reported measure at a particular data date. It does not evaluate all of a company's financial circumstances or the risks of holding its shares. Hoya Capital's site disclosures state that the information is not investment advice and that loss of principal is possible.

Why are some dividend-paying companies missing?

The screen is limited to the covered REIT classifications and excludes ETFs and non-REIT company groups. It also requires a positive reported yield no greater than 50%. Eligible companies below the first 25 ranks are outside this page's size limit, even when they pay dividends.

How should I read the payout and frequency columns?

Payout shows the database's FFO payout ratio as a percentage, while frequency retains the recorded payment label. Neither column changes the yield ranking. Missing fields are marked Not reported rather than replaced with zero. These values describe source records and are not promises about future distributions.