Updated on March 4th, 2026 by Bob Ciura
Investors looking to generate higher income levels from their investment portfolios should look at Real Estate Investment Trusts or REITs.
These are companies that own real estate properties and lease them to tenants, or invest in real estate backed loans, both of which generate a steady stream of income.
The bulk of their income is then passed on to shareholders through dividends.
You can see all 200+ REITs here.
You can download our full list of REITs, along with important metrics such as dividend yields and market capitalizations, by clicking on the link below:
The beauty of REITs for income investors is that they are required to distribute 90% of their taxable income to shareholders annually in the form of dividends. In return, REITs typically do not pay corporate taxes.
As a result, many of the 200+ REITs we track offer high dividend yields of 5%+.
But not all high-yielding stocks are automatic buys. Investors should carefully assess the fundamentals to ensure that high yields are sustainable.
Note that while the securities in this article have very high yields, a high yield alone does not make for a solid investment. Dividend safety, valuation, management, balance sheet health, and growth are also very important factors.
We urge investors to use the analysis below as informative but to do significant due diligence before buying into any security – especially high-yield securities.
Many (but not all) high-yield securities have a significant risk of a dividend reduction and/or deteriorating business results.
Table of Contents
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- High-Yield REIT No. 10: Firm Capital Property Trust (FRMUF)
- High-Yield REIT No. 9: Bridgemarq Real Estate Services (BREUF)
- High-Yield REIT No. 8: Gladstone Commercial Corp. (GOOD)
- High-Yield REIT No. 7: Community Healthcare Trust (CHCT)
- High-Yield REIT No. 6: AGNC Investment Corp. (AGNC)
- High-Yield REIT No. 5: Innovative Industrial Properties (IIPR)
- High-Yield REIT No. 4: Dynex Capital (DX)
- High-Yield REIT No. 3: ARMOUR Residential REIT (ARR)
- High-Yield REIT No. 2: Ellington Credit Co. (EARN)
- High-Yield REIT No. 1: Orchid Island Capital (ORC)
High-Yield REIT No. 10: Firm Capital Property Trust (FRMUF)
- Dividend Yield: 8.3%
Firm Capital Property Trust is a Canadian REIT that owns and co-owns a diversified portfolio of income-producing real estate across three core segments: industrial, multi-residential/manufactured home communities (MHCs), and grocery anchored and service-based retail.
The Trust emphasizes capital preservation and disciplined investing, often partnering with institutional-grade operators through joint ventures.
As of its latest report, the portfolio consists of approximately 2.43 million square feet of commercial space, 599 multi-residential units, and 537 manufactured home community sites, with assets diversified across Ontario, Quebec, Alberta, and Atlantic Canada.
The portfolio is widely diversified by geography and tenant base, with a strong focus on necessity-driven uses and high occupancy across asset classes.
On November 6th, 2025, Firm Capital posted its Q3 results for the period ending September 30th, 2025. Rental revenue totaled about $10.72 million, driven by stable occupancy across its retail, industrial, multi-residential, and manufactured home communities, all of which continued to operate at high utilization levels.
Net operating income (NOI) came in at approximately $6.84 million, reflecting steady operating performance despite inflationary cost pressures. Funds from Operations (FFO) were roughly $3.28 million, or about $0.089 per unit.
Click here to download our most recent Sure Analysis report on FRMUF (preview of page 1 of 3 shown below):
High-Yield REIT No. 9: Bridgemarq Real Estate Services (BREUF)
- Dividend Yield: 9.3%
Bridgemarq Real Estate Services is a leading Canadian real estate services company that provides branding, technology, and support to real estate brokers and over 21,000 realtors across Canada.
Its portfolio includes nationally recognized brands such as Royal LePage, Via Capitale, Proprio Direct, and Johnston & Daniel.
The company earns revenue primarily from fixed and variable franchise fees, generating cash flow stability that is less sensitive to fluctuations in the housing market.
On November 13th, 2025, Bridgemarq Real Estate Services reported its Q3 results for the period ending September 30th, 2025. Total revenue came in at $87.3 million, down from $90.0 million in Q3 2024, reflecting softer brokerage-side performance and lower gross commission income.
Bridgemarq recorded a net loss of $0.13 per share, with results influenced by weaker market activity in key regions and higher operating expenses in the Brokerage Operations.
Adjusted EPS was $0.04, down from $0.12 last year, driven by lower revenues and higher compensation and operating costs, partly offset by lower depreciation and interest expenses.
Click here to download our most recent Sure Analysis report on BREUF (preview of page 1 of 3 shown below):
High-Yield REIT No. 8: Gladstone Commercial Corp. (GOOD)
- Dividend Yield: 9.8%
Gladstone Commercial Corporation is a real estate investment trust, or REIT, that specializes in single-tenant and anchored multi-tenant net leased industrial and office properties across the U.S.
The trust targets primary and secondary markets that possess favorable economic growth trends, growing populations, strong employment, and robust growth trends.
The trust’s stated goal is to pay shareholders monthly distributions, which it has done for more than 17 consecutive years. Gladstone owns over 100 properties in 24 states that are leased to about 100 unique tenants.
Gladstone posted fourth-quarter and full-year earnings on February 19th, 2026, and results were better than expected on both the top and bottom lines.
Funds-from-operations per-share came to 37 cents in Q4, which was a penny ahead of estimates. Revenue was $43.46 million, which was $2.23 million better than expected.
Same-store lease revenue was up 4% in the 12 months ending in December against the same period a year earlier. Operating revenue for the quarter was $43.5 million, while operating expenses were $26.4 million.
Net assets increased during the year from $1.1 billion to $1.2 billion. Management noted that during 2025 Gladstone acquired $206 million of industrial assets across 10 facilities totaling 1.6 million square feet.
These deals carried a weighted average cap rate of 8.88% and an average lease term of 15.9 years.
Click here to download our most recent Sure Analysis report on GOOD (preview of page 1 of 3 shown below):
High-Yield REIT No. 7: Community Healthcare Trust (CHCT)
- Dividend Yield: 11.2%
Community Healthcare Trust is a REIT which owns income-producing real estate properties linked to the healthcare sector, such as physician offices, specialty centers, behavioral facilities, inpatient rehabilitation facilities, and medical office buildings, in the trust’s target sub-markets within the United States.
The trust has investments in 200 properties in 36 states, totaling 4.6 million square feet.
On February 17th, 2026, Community Healthcare Trust reported fourth quarter results for the period ending December 31st, 2025. Funds from operations (FFO) per share rose 2% to $0.49 from $0.48 in the prior year quarter. Adjusted FFO per share was flat at $0.55.
During the quarter, Community Healthcare disposed of three properties, earning net proceeds of $32 million. The trust also has five properties under definitive purchase agreements, with a combined purchase price of roughly $123 million, expected to close from 2025 through 2027.
CHCT acquired one inpatient rehabilitation facility in Florida for $26.5 million. It was 100% leased to a tenant through 2040.
The board of directors passed a 0.5% increase to the quarterly dividend to $0.4775 per share, or an annualized rate of $1.91 per share. CHCT has increased its dividend every quarter since its IPO.
Click here to download our most recent Sure Analysis report on CHCT (preview of page 1 of 3 shown below):
High-Yield REIT No. 6: AGNC Investment Corp. (AGNC)
- Dividend Yield: 13.1%
American Capital Agency Corp is a mortgage real estate investment trust that invests primarily in agency mortgage–backed securities (or MBS) on a leveraged basis.
The firm’s asset portfolio is comprised of residential mortgage pass–through securities, collateralized mortgage obligations (or CMO), and non–agency MBS. Many of these are guaranteed by government–sponsored enterprises.
On October 21, 2025, AGNC Investment Corp. reported comprehensive income of $0.78 per common share, producing an economic return on tangible common equity of 10.6%, which included $0.36 in dividends and a $0.47 per-share increase in tangible book value.
Net spread and dollar roll income was $0.35 per share, down slightly due to lower swap income following the maturity of $4 billion in legacy swaps and temporary timing effects from new capital deployment.
Tangible net book value per share rose to $9.84, and liquidity remained strong at $7.2 billion, representing 66% of tangible equity.
Click here to download our most recent Sure Analysis report on AGNC Investment Corp (AGNC) (preview of page 1 of 3 shown below):
High-Yield REIT No. 5: Innovative Industrial Properties (IIPR)
- Dividend Yield: 14.2%
Innovative Industrial Properties, Inc. is a single-use “specialty REIT” that exclusively focuses on owning properties used for the cultivation and production of cannabis.
The REIT owned 112 properties in 19 states at the end of June. Due to the cannabis boom over the past few years, as well as its exclusivity in terms of the listing giving the trust access to public markets, Innovate Industrial Properties is a truly unique REIT.
On February 23rd, 2026, IIPR posted its Q4 results for the period ending December 31st, 2025. Revenues and AFFO per share were $66.7 million and $1.88, down 13% and 15% year-over-year, respectively.
The year-over-year revenue decline was primarily driven by an $8.5 million decrease in rental revenue and a $1.6 million decrease in tenant reimbursements, largely attributable to tenant defaults related to PharmaCann, TILT and 4Front.
Interest and other income increased to $6.7 million, primarily reflecting $5.0 million of interest and dividend income from financial investments in IQHQ.
During the quarter, the company executed new leases totaling 70,000 square feet in North Palm Springs, California and 58,000 square feet in Holliston, Massachusetts, and in January 2026 executed a 204,000 square foot lease in Desert Hot Springs, California.
Click here to download our most recent Sure Analysis report on IIPR (preview of page 1 of 3 shown below):
High-Yield REIT No. 4: Dynex Capital (DX)
- Dividend Yield: 14.8%
Dynex Capital invests in mortgage–backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non–agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest–only securities.
On October 20, 2025, Dynex Capital reported a total economic return of 10.3% of beginning book value, driven by a $0.72 per-share increase in book value and $0.51 per share in dividends declared for the quarter.
Book value per common share rose to $12.67 at September 30, 2025. GAAP performance was strong, with comprehensive income of $1.20 per common share and net income of $1.09 per share, supported by higher net interest income and favorable marks as Treasury yields fell and agency mortgage spreads tightened.
The company continued to raise and deploy capital, issuing $254 million of common equity net via at-the-market programs and using the proceeds to expand its highly liquid, agency-focused portfolio.
Purchases included approximately $2.4 billion of Agency RMBS and $464 million of Agency CMBS during the quarter, reflecting management’s preference for transparent, readily valued assets amid improving market technicals.
Click here to download our most recent Sure Analysis report on DX (preview of page 1 of 3 shown below):
High-Yield REIT No. 3: ARMOUR Residential REIT (ARR)
- Dividend Yield: 16.1%
ARMOUR Residential invests in residential mortgage-backed securities that include U.S. Government-sponsored entities (GSE) such as Fannie Mae and Freddie Mac.
It also includes Ginnie Mae, the Government National Mortgage Administration’s issued or guaranteed securities backed by fixed-rate, hybrid adjustable-rate, and adjustable-rate home loans.
Unsecured notes and bonds issued by the GSE and the US Treasury, money market instruments, and non-GSE or government agency-backed securities are examples of other types of investments.
On October 22, 2025, ARMOUR Residential REIT released its third quarter 2025 results. ARMOUR reported distributable earnings available to common stockholders of $0.72 per share, slightly below the consensus expectation and missing estimates by about $0.07.
The company recorded strong revenue of approximately $92.1 million that beat expectations. The REIT posted net income of about $159.3 million and net interest income of roughly $38.5 million, reflecting a rebound in earnings compared to earlier periods as interest income rose on a larger investment portfolio.
Book value per share increased about 3.5% to $17.49 at quarter end, and the company reported a total economic return near 7.75%for the quarter, signaling healthy underlying asset performance in an environment of volatile mortgage rates and funding costs.
Click here to download our most recent Sure Analysis report on ARMOUR Residential REIT Inc (ARR) (preview of page 1 of 3 shown below):
High-Yield REIT No. 2: Ellington Credit Co. (EARN)
- Dividend Yield: 19.4%
Ellington Credit Co. acquires, invests in, and manages residential mortgage and real estate related assets. Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.
Agency MBS are created and backed by government agencies or enterprises, while non-agency MBS are not guaranteed by the government.
On November 19th, 2025, Ellington Credit reported its second fiscal quarter results for the period ending September 30, 2025. The company generated net income of $4.3 million, or $0.11 per share.
Ellington achieved adjusted net investment income of $8.5 million in the quarter, or $0.23 per share. At quarter end, Ellington had $20.1 million in cash and cash equivalents.
Click here to download our most recent Sure Analysis report on EARN (preview of page 1 of 3 shown below):
High-Yield REIT No. 1: Orchid Island Capital Inc (ORC)
- Dividend Yield: 19.5%
Orchid Island Capital is a mortgage REIT that is externally managed by Bimini Advisors LLC and focuses on investing in residential mortgage-backed securities (RMBS), including pass-through and structured agency RMBSs.
These financial instruments generate cash flow based on residential loans such as mortgages, subprime, and home-equity loans.
On October 23, 2025, Orchid Island Capital, Inc. reported estimated net income of $0.53 per common share for Q3 2025, with book value per share estimated at $7.33 as of September 30, 2025.
The company declared a monthly dividend of $0.12 per share for October, keeping consistent with its monthly payout strategy.
The RMBS portfolio and derivatives portfolio evolved as the company remained focused on agency residential mortgage-backed securities paired with hedging strategies.
Orchid Island highlighted that the investment backdrop remains attractive with improving spreads and prepayment risk manageable given the portfolio’s coupon distribution and hedges.
Prepayment activity remained a focal point, with management noting the need for continued vigilance given higher coupon pools and refinancing dynamics.
Click here to download our most recent Sure Analysis report on Orchid Island Capital, Inc. (ORC) (preview of page 1 of 3 shown below):
Final Thoughts
REITs have significant appeal for income investors due to their high yields. These 10 extremely high-yielding REITs are especially attractive on the surface, although investors should be aware that abnormally high yields are often accompanied by elevated risks.
If you are interested in finding high-quality dividend growth stocks and/or other high-yield securities and income securities, the following Sure Dividend resources will be useful:
High-Yield Individual Security Research
Other Sure Dividend Resources
- Dividend Kings: 50+ years of rising dividends
- Dividend Aristocrats: 25+ years of rising dividends and in the S&P 500
- Monthly Dividend Stocks: Individual securities that pay out every month