Revealed on November 18th, 2025 by Bob Ciura
Buyers within the US shouldn’t overlook Canadian shares, a lot of which have excessive dividend yields than their U.S. counterparts.
There are various Canadian dividend shares which have considerably increased yields and decrease valuations than comparable U.S. friends.
Canadian shares additionally provide geographic diversification advantages, which may have attraction for buyers seeking to broaden their publicity outdoors the U.S.
That is additionally true on the subject of Actual Property Funding Trusts, or REITs. Whereas REITs in america are likely to get almost the entire protection within the monetary media, there are various high-dividend REITs based mostly in Canada.
You’ll be able to see out checklist of 200+ REITs right here.
You’ll be able to obtain our full checklist of REITs, together with necessary metrics resembling dividend yields and market capitalizations, by clicking on the hyperlink under:
The great thing about REITs for earnings buyers is that they’re required to distribute 90% of their taxable earnings to shareholders yearly within the type of dividends. In return, REITs usually don’t pay company taxes.
Because of this, most of the 200+ REITs we observe provide excessive dividend yields of 5%+.
Notice: Canada imposes a 15% dividend withholding tax on U.S. buyers. In lots of circumstances, investing in Canadian shares by means of a U.S. retirement account waives the dividend withholding tax from Canada, however test together with your tax preparer or accountant for extra on this situation.
This text will rank the ten highest-yielding Canadian REITs within the Certain Evaluation Analysis Database.
Desk of Contents
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Excessive-Yield REIT Canadian No. 10: Dream Workplace REIT (DRETF)
Dream Workplace REIT is a Toronto-focused workplace actual property funding belief that owns and manages a portfolio of 26 high-quality workplace properties totaling 4.8 million sq. ft of gross leasable space. Most of its properties are concentrated in downtown Toronto, one of the vital institutional and supply-constrained workplace markets within the nation.
They’re principally mid-sized, well-located workplace buildings which have been notably upgraded lately by means of renovations, amenity enhancements, and sustainability retrofits to fulfill evolving tenant calls for.
On August seventh, 2025, Dream Workplace REIT posted its Q2 outcomes for the three months ended June thirtieth, 2025. Web rental earnings totaled about $25 million, down from final 12 months, primarily because of the sale of 438 College Avenue earlier this 12 months and decrease occupancy in downtown Toronto.
Similar-property internet working earnings grew modestly by 0.6% to about $26 million, as hire step-ups, new leasing, and price efficiencies offset the impression of the 74 Victoria Avenue lease expiry.
Dream Workplace accomplished about 189,000 sq. ft of leasing exercise through the quarter. In Toronto downtown, new leases have been signed at common rents 6% above expiring ranges, signaling continued demand for high-quality, well-located house.
Nonetheless, total in-place occupancy declined year-over-year to 77.9%, with dedicated occupancy ending the quarter at 81.9%. The decline primarily displays the expiry of a significant lease at 74 Victoria Avenue and asset gross sales, partially offset by new leasing and hire will increase. Diluted FFO per unit was $0.62, down from $0.76 final 12 months.
Click on right here to obtain our most up-to-date Certain Evaluation report on DRETF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 9: CT Actual Property Funding Belief (CTRRF)
CT Actual Property Funding Belief is one in every of Canada’s largest retail REITs. As of September thirtieth, 2025, CTRRF owned 378 properties and 31.5 million sq. ft of gross leasable space all through Canada, with the bulk being concentrated in Ontario (145) and Quebec (79).
The truthful market worth for these properties was estimated to be 7.5 billion Canadian {Dollars} on the time.
On November third, CTRRF launched its earnings report for the third quarter ended September thirtieth. The corporate’s property income in native forex grew by 4.5% over the year-ago interval to 151.2 million through the quarter.
Factoring in forex translation headwinds, CTRRF’s property income elevated by 2.1% year-over-year to $108.2 million within the quarter. Annual lease escalators, a rise in gross leasable space, and a 99.4% occupancy charge contributed to this development for the quarter.
In CAD, CTRRF’s AFFO per unit grew by 2.9% over the year-ago interval. Adjusting for forex translation, the REIT’s AFFO per unit elevated by 0.4% year-over-year to $0.227 within the quarter.
Click on right here to obtain our most up-to-date Certain Evaluation report on CTRRF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 8: Dream Industrial REIT (DREUF)
Dream Industrial REIT is an industrial REIT that owns and operates a high-quality portfolio of city logistics and lightweight industrial properties.
On the finish of final 12 months, the belief managed 336 belongings, totaling about 72.6 million sq. ft of gross leasable space throughout Canada, america, and Europe.
The portfolio is primarily composed of multi-tenant buildings, with a portion in single-tenant properties, and is well-diversified throughout key industrial markets.
On August fifth, 2025, Dream Industrial REIT posted its Q2 outcomes for the interval ending June thirtieth, 2025. Complete internet rental earnings rose to about $68.2 million, up 5.9% year-over-year, powered by sturdy leasing spreads and contributions from accomplished developments.
Similar-property internet working earnings elevated by 3.2% to round $71.4 million, supported by a 95.3% occupancy charge and over 1.6 million sq. ft of leases signed at spreads averaging 22.8%.
The Belief accomplished a $204.4 million acquisition program by means of its joint ventures and disposed of non-strategic belongings for gross proceeds of $5.84 million.
Funds from Operations (FFO) got here in at $55.5 million, or $0.27 per unit, 6.3% increased year-over-year. This was as a result of increased rental earnings, improved property administration charges, and regular occupancy ranges.
Click on right here to obtain our most up-to-date Certain Evaluation report on DREUF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 7: H&R Actual Property Funding Belief (HRUFF)
H&R Actual Property Funding Belief holds a portfolio of 365 properties throughout Canada and america. The portfolio consists of 26 residential properties with a complete of 8,929 rental models, primarily targeted on increasing its presence within the U.S. Solar Belt.
Furthermore, the REIT owns 65 industrial properties in Canada and one within the U.S., totaling 8.3 million sq. ft of house. Moreover, H&R holds 16 workplace properties throughout North America, comprising 4.5 million sq. ft, and 27 retail properties in Canada together with 230 retail properties within the U.S., totaling 4.9 million sq. ft.
The corporate’s technique nowadays focuses on residential and industrial belongings, whereas decreasing its publicity to workplace and retail sectors.
On August twelfth, 2025, H&R Actual Property Funding Belief reported its Q2 outcomes. The REIT posted complete rental income of $106.0 million for the quarter, a lower from $111.9 million in Q2 2024. This drop displays the impression of property tendencies and shifting portfolio composition.
H&R’s Funds from Operations was $40.3 million, in comparison with $46.0 million in Q2 2024. The decline in FFO was pushed by decrease internet working earnings and the impression of asset gross sales. For the quarter, FFO per share was $0.14.
Click on right here to obtain our most up-to-date Certain Evaluation report on HRUFF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 6: RioCan Actual Property Funding Belief (RIOCF)
RioCan Actual Property Funding Belief owns, manages, and develops retail-focused, mixed-use properties positioned in prime, high-density transit-oriented areas the place Canadians store, reside, and work.
As of June thirtieth, 2025, the corporate wholly owned or co-owned stakes in 178 properties spanning an mixture internet leasable space of roughly 32 million sq. ft. Moreover, the corporate has a pipeline of roughly 21 million sq. ft zoned for future improvement.
RIOCF’s annualized contractual gross hire is generally derived from retail properties (83.7%). Workplace properties chip in one other 11.2%, and residential rental properties contribute the remaining 5.1% to RIOCF’s annualized hire.
The corporate’s technique is to focus totally on necessity-based retail. These embody grocery shops and pharmacies (20.0% of annualized hire) and are buoyed by exceptionally sturdy tenants like Walmart and Costco.
Important items and companies made up 24.0% of annualized hire and included tenants just like the Financial institution of Montreal, TD Financial institution, and Royal Financial institution of Canada. Worth retailers contributed 13.0% of annualized hire and embody Dollarama, in addition to TJX Corporations’ HomeSense and Winners manufacturers.
On August seventh, RIOCF shared its monetary outcomes for the second quarter ended June thirtieth, 2025. The corporate’s income rose by 28.9% year-over-year to $290.8 million through the quarter (adjusting for common CAD to USD conversion charges in Q2 2024 and Q2 2025).
Attributable to unfavorable overseas forex translation, this trailed the native forex development charge of 31.1% within the quarter. RIOCF’s AFFO per unit grew by 7.4% over the year-ago interval to $0.34 for the quarter (versus 9.3% in fixed forex).
Click on right here to obtain our most up-to-date Certain Evaluation report on RIOCF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 5: NorthWest Healthcare Properties (NWHUF)
Northwest Healthcare Properties is a globally diversified healthcare actual property investor and asset supervisor. Its footprint spans 172 income-producing properties throughout Canada, the U.S., Brazil, Europe, and Australasia.
The portfolio totals over 16 million sq. ft of gross leasable space, anchored by long-term, inflation-linked leases to high-quality healthcare operators.
The REIT additionally has a sizeable asset administration enterprise, overseeing $8.8 billion in AUM, of which $1.8 billion is owned immediately and $4.0 billion managed by means of joint ventures.
On August twelfth, 2025, Northwest Healthcare REIT posted its Q2 outcomes for the interval ending June thirtieth, 2025. Income got here in at $72.3 million, down 17% year-over-year as a result of vital asset gross sales.
Web working earnings got here in at $55.7 million, with occupancy holding at 96.6% and a 13.5-year WALE, supported by inflation-linked leases protecting over 96% of hire.
Q2 FFO was $0.08 per unit, up from $0.07 final 12 months, as a result of lasting deleveraging and improved financing phrases. In the course of the quarter, the REIT bought $16.1 million of belongings and used proceeds together with its $152.8 million Assura PLC divestment to repay over $632 million of debt, reducing its common rate of interest to 4.84%.
The REIT continues to pursue value financial savings following final 12 months’s 16% workforce discount and, throughout Q2, refinanced $634.2 million of debt on improved phrases to assist its stability sheet optimization efforts.
Click on right here to obtain our most up-to-date Certain Evaluation report on NWHUF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 4: SmartCentres Actual Property Funding Belief (CWYUF)
SmartCentres Actual Property Funding Belief is a Canadian actual property funding belief principally targeted on retail properties.
In 1994, the corporate helped Walmart enter the Canadian market. CWYUF stays Walmart’s solely actual property improvement companion on the planet.
As of September thirtieth, 2025, the corporate owned 197 properties spanning 35.6 million sq. ft all through inhabitants facilities in Canada.
CWYUF has roughly 86.2 million sq. ft of projected mixed-use improvement initiatives in its pipeline, which make up about 14% of complete belongings. That is a number of occasions larger than the peer common of 4.0%.
CWYUF’s typical tenants are massive (95%+ of tenants are nationwide or regional) and supply shoppers with important companies. These embody Walmart (22.9% of annualized hire) and Canadian grocery store chains Loblaws and Sobeys (2.7% and a pair of.1% of annualized hire, respectively).
Different financially wholesome tenants embody division retailer retailer TJX Corporations (4.4% of annualized hire) and shopper electronics retailer Finest Purchase (1.4% of annualized hire).
CWYUF’s concentrate on well-established tenants interprets right into a 98.6% dedicated occupancy charge.
On November twelfth, the REIT launched its earnings report for the third quarter ended September thirtieth, 2025. CWYUF’s income decreased by 9.1% over the year-ago interval to $162.1 million within the quarter (utilizing common CAD to USD alternate charges in Q3 2024 and Q3 2025).
CWYUF’s AFFO per unit fell by 0.5% year-over-year to $0.35 through the quarter (based mostly on common CAD to USD alternate charges).
Click on right here to obtain our most up-to-date Certain Evaluation report on CWYUF (preview of web page 1 of three proven under):
Excessive-Yield REIT Canadian No. 3: Slate Grocery REIT (SRRTF)
Slate Grocery REIT is a Toronto-based, but U.S.-focused actual property funding belief targeted on grocery-anchored retail facilities. It owns 117 properties, totaling 15.4 million sq. ft and valued at about $2.4 billion.
Its portfolio is deeply rooted in necessity-based retail. A few of its high tenants embody Kroger, Walmart, and Ahold Delhaize, whereas it boasts an anchor occupancy charge of 98.6%.
On August sixth, 2025, Slate Grocery REIT posted its Q2 outcomes for the interval ending June thirtieth, 2025. Complete income grew 2.1% year-over-year to $53.4 million.
The expansion was primarily pushed by rental charge will increase, sturdy leasing spreads, and contractual hire escalations, significantly on renewed leases that proceed to mirror resilient demand for grocery-anchored retail.
Regardless of the income uplift, profitability was modestly pressured by increased common and administrative bills in addition to curiosity and finance prices.
FFO totaled $15.0 million, or $0.25 per unit, unchanged from a 12 months in the past. Leasing exercise remained wholesome, supporting a steady occupancy charge and reinforcing the REIT’s place in necessity-based retail.
Click on right here to obtain our most up-to-date Certain Evaluation report on SRRTF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 2: Agency Capital Property Belief (FRMUF)
Agency Capital Property Belief is a Canadian REIT that owns and co-owns a diversified portfolio of income-producing actual property throughout three core segments: industrial, multi-residential/manufactured house communities (MHCs), and grocery anchored and service-based retail.
As of its newest report, its portfolio has about 2.4 million sq. ft of business house, alongside 599 house models and 537 MHC websites, with properties positioned in necessity-based markets throughout Ontario, Quebec, Alberta, and the Maritimes.
The portfolio is broadly diversified by geography and tenant base, with a powerful concentrate on necessity-driven makes use of and excessive occupancy throughout asset lessons.
On August fifth, 2025, Agency Capital posted its Q2 outcomes for the interval ending June thirtieth, 2025. Rental income totaled about $11.18 million, powered by sturdy occupancy throughout its diversified portfolio of commercial, residential, and retail properties.
General portfolio occupancy remained excessive, with residential and manufactured house communities working close to or at full capability, and retail and industrial belongings sustaining strong leasing ranges.
Web working earnings (NOI) got here in at about $7.00 million, reflecting the Belief’s disciplined working value administration and regular rental efficiency. Funds from Operations (FFO) have been about $3.46 million, or $0.128 per unit.
Click on right here to obtain our most up-to-date Certain Evaluation report on FRMUF (preview of web page 1 of three proven under):
Excessive-Yield Canadian REIT No. 1: Bridgemarq Actual Property Providers (BREUF)
Bridgemarq Actual Property Providers is a number one Canadian actual property companies firm that gives branding, know-how, and assist to actual property brokers and over 21,000 realtors throughout Canada. Its portfolio consists of nationally acknowledged manufacturers resembling Royal LePage, By way of Capitale, Proprio Direct, and Johnston & Daniel.
The corporate earns income primarily from fastened and variable franchise charges, producing money circulation stability that’s much less delicate to fluctuations within the housing market.
On August thirteenth, 2025, Bridgemarq Actual Property Providers reported its Q2 outcomes. Complete income got here in at $78.8 million, down from $80.7 million in Q2 2024, reflecting softer Canadian actual property market situations.
Bridgemarq additionally recorded a internet lack of $0.42 per share primarily as a result of a $3.6 million loss on the truthful valuation of exchangeable models.
Adjusted EPS was $0.10, down from $0.12 final 12 months as a result of decrease revenues and better compensation and promoting bills that have been partially offset by decrease curiosity and depreciation prices.
Click on right here to obtain our most up-to-date Certain Evaluation report on BREUF (preview of web page 1 of three proven under):
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