Highest Dividend-Yielding REIT Stocks by Market Cap

REITs are legally required to distribute at least 90% of their taxable income to shareholders as dividends — a structural mandate that makes them among the highest-yielding securities on any major exchange. In return, REITs typically pay no corporate income tax. There are over 225 publicly traded REITs in the United States alone, spanning fourteen recognized property sectors.

Over the long term, roughly half of listed REIT total returns have come from dividends, compared to less than one-fourth for the S&P 500. This income is often secured by ongoing rent payments and long-term leases, which gives REIT dividends a different character than payouts from typical equities.

The two main categories are equity REITs and mortgage REITs (mREITs):

• Equity REITs own and operate income-producing properties — logistics warehouses, data centers, healthcare facilities, retail malls, and residential buildings. Income comes primarily from rents.
• Mortgage REITs invest in residential and commercial mortgages or mortgage-backed securities. They structurally produce the highest yields in the REIT universe but are more sensitive to interest rate changes and may cut dividends when rates rise or defaults increase.

The five largest U.S. REITs by market capitalization are Prologis (PLD), Equinix (EQIX), American Tower (AMT), Welltower (WELL), and Digital Realty (DLR). These span industrial logistics, data centers, telecom infrastructure, and healthcare — illustrating how far the REIT universe extends beyond traditional office and retail property.

Abnormally high dividend yields among REITs are often accompanied by elevated risk. A 4% excise tax applies to any REIT that distributes less than 85% of ordinary income and 95% of net capital gain during the year, which reinforces the high-payout structure but does not eliminate the risk of dividend cuts. For those interested in broader income strategies, see the dividend royalty list or explore real estate ETFs for fund-based exposure.

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The table below ranks the leading dividend-yielding REITs by market capitalization across global exchanges, covering equity REITs, mortgage REITs, and specialized property sectors.