Printed on November 18th, 2025 by Bob Ciura
Traders within the US shouldn’t overlook Canadian shares, lots of which have excessive dividend yields than their U.S. counterparts.
There are various Canadian dividend shares which have considerably greater yields and decrease valuations than comparable U.S. friends.
Canadian shares additionally supply geographic diversification advantages, which may have enchantment for traders seeking to broaden their publicity outdoors the U.S.
That is additionally true relating to Actual Property Funding Trusts, or REITs. Whereas REITs in america are inclined to get almost the entire protection within the monetary media, there are lots of high-dividend REITs primarily based in Canada.
You’ll be able to see out record of 200+ REITs right here.
You’ll be able to obtain our full record of REITs, together with necessary metrics akin to dividend yields and market capitalizations, by clicking on the hyperlink beneath:
The great thing about REITs for revenue traders is that they’re required to distribute 90% of their taxable revenue to shareholders yearly within the type of dividends. In return, REITs sometimes don’t pay company taxes.
Consequently, lots of the 200+ REITs we monitor supply excessive dividend yields of 5%+.
Be aware: Canada imposes a 15% dividend withholding tax on U.S. traders. In lots of instances, investing in Canadian shares by means of a U.S. retirement account waives the dividend withholding tax from Canada, however examine together with your tax preparer or accountant for extra on this concern.
This text will rank the ten highest-yielding Canadian REITs within the Positive 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 crucial institutional and supply-constrained workplace markets within the nation.
They’re principally mid-sized, well-located workplace buildings which were notably upgraded in recent times by means of renovations, amenity enhancements, and sustainability retrofits to satisfy 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 revenue totaled about $25 million, down from final 12 months, primarily as a result of sale of 438 College Avenue earlier this 12 months and decrease occupancy in downtown Toronto.
Similar-property internet working revenue grew modestly by 0.6% to about $26 million, as hire step-ups, new leasing, and value efficiencies offset the affect of the 74 Victoria Road lease expiry.
Dream Workplace accomplished about 189,000 sq. ft of leasing exercise throughout 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, general 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 Road 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 Positive Evaluation report on DRETF (preview of web page 1 of three proven beneath):
Excessive-Yield Canadian REIT No. 9: CT Actual Property Funding Belief (CTRRF)
CT Actual Property Funding Belief is considered one 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 foreign money grew by 4.5% over the year-ago interval to 151.2 million throughout the quarter.
Factoring in foreign money 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 fee contributed to this progress for the quarter.
In CAD, CTRRF’s AFFO per unit grew by 2.9% over the year-ago interval. Adjusting for foreign money 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 Positive Evaluation report on CTRRF (preview of web page 1 of three proven beneath):
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. Whole internet rental revenue rose to about $68.2 million, up 5.9% year-over-year, powered by robust leasing spreads and contributions from accomplished developments.
Similar-property internet working revenue elevated by 3.2% to round $71.4 million, supported by a 95.3% occupancy fee 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% greater year-over-year. This was because of greater rental revenue, improved property administration charges, and regular occupancy ranges.
Click on right here to obtain our most up-to-date Positive Evaluation report on DREUF (preview of web page 1 of three proven beneath):
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 contains 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 today 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 whole rental income of $106.0 million for the quarter, a lower from $111.9 million in Q2 2024. This drop displays the affect of property inclinations 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 revenue and the affect of asset gross sales. For the quarter, FFO per share was $0.14.
Click on right here to obtain our most up-to-date Positive Evaluation report on HRUFF (preview of web page 1 of three proven beneath):
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 situated in prime, high-density transit-oriented areas the place Canadians store, stay, and work.
As of June thirtieth, 2025, the corporate wholly owned or co-owned stakes in 178 properties spanning an combination internet leasable space of roughly 32 million sq. ft. Moreover, the corporate has a pipeline of roughly 21 million sq. ft zoned for future growth.
RIOCF’s annualized contractual gross hire is usually 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 robust tenants like Walmart and Costco.
Important items and providers 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 throughout the quarter (adjusting for common CAD to USD conversion charges in Q2 2024 and Q2 2025).
As a result of unfavorable international foreign money translation, this trailed the native foreign money progress fee 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 foreign money).
Click on right here to obtain our most up-to-date Positive Evaluation report on RIOCF (preview of web page 1 of three proven beneath):
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 because of important asset gross sales.
Web working revenue got here in at $55.7 million, with occupancy holding at 96.6% and a 13.5-year WALE, supported by inflation-linked leases overlaying over 96% of hire.
Q2 FFO was $0.08 per unit, up from $0.07 final 12 months, because of lasting deleveraging and improved financing phrases. Through 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, decreasing its common rate of interest to 4.84%.
The REIT continues to pursue price 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 Positive Evaluation report on NWHUF (preview of web page 1 of three proven beneath):
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 growth associate on this 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 growth initiatives in its pipeline, which make up about 14% of whole belongings. That is a number of occasions higher 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 providers. These embody Walmart (22.9% of annualized hire) and Canadian grocery store chains Loblaws and Sobeys (2.7% and a couple of.1% of annualized hire, respectively).
Different financially wholesome tenants embody division retailer retailer TJX Corporations (4.4% of annualized hire) and client electronics retailer Greatest Purchase (1.4% of annualized hire).
CWYUF’s give attention to well-established tenants interprets right into a 98.6% dedicated occupancy fee.
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 change charges in Q3 2024 and Q3 2025).
CWYUF’s AFFO per unit fell by 0.5% year-over-year to $0.35 throughout the quarter (primarily based on common CAD to USD change charges).
Click on right here to obtain our most up-to-date Positive Evaluation report on CWYUF (preview of web page 1 of three proven beneath):
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 fee of 98.6%.
On August sixth, 2025, Slate Grocery REIT posted its Q2 outcomes for the interval ending June thirtieth, 2025. Whole income grew 2.1% year-over-year to $53.4 million.
The expansion was primarily pushed by rental fee will increase, robust leasing spreads, and contractual hire escalations, notably on renewed leases that proceed to replicate resilient demand for grocery-anchored retail.
Regardless of the income uplift, profitability was modestly pressured by greater normal 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 secure occupancy fee and reinforcing the REIT’s place in necessity-based retail.
Click on right here to obtain our most up-to-date Positive Evaluation report on SRRTF (preview of web page 1 of three proven beneath):
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 residence communities (MHCs), and grocery anchored and service-based retail.
As of its newest report, its portfolio has about 2.4 million sq. ft of economic house, alongside 599 house models and 537 MHC websites, with properties situated in necessity-based markets throughout Ontario, Quebec, Alberta, and the Maritimes.
The portfolio is extensively diversified by geography and tenant base, with a powerful give attention to 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 robust occupancy throughout its diversified portfolio of commercial, residential, and retail properties.
General portfolio occupancy remained excessive, with residential and manufactured residence communities working close to or at full capability, and retail and industrial belongings sustaining stable leasing ranges.
Web working revenue (NOI) got here in at about $7.00 million, reflecting the Belief’s disciplined working price 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 Positive Evaluation report on FRMUF (preview of web page 1 of three proven beneath):
Excessive-Yield Canadian REIT No. 1: Bridgemarq Actual Property Companies (BREUF)
Bridgemarq Actual Property Companies is a number one Canadian actual property providers firm that gives branding, expertise, and assist to actual property brokers and over 21,000 realtors throughout Canada. Its portfolio contains nationally acknowledged manufacturers akin to Royal LePage, Through Capitale, Proprio Direct, and Johnston & Daniel.
The corporate earns income primarily from fastened and variable franchise charges, producing money circulate stability that’s much less delicate to fluctuations within the housing market.
On August thirteenth, 2025, Bridgemarq Actual Property Companies reported its Q2 outcomes. Whole income got here in at $78.8 million, down from $80.7 million in Q2 2024, reflecting softer Canadian actual property market circumstances.
Bridgemarq additionally recorded a internet lack of $0.42 per share primarily because 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 because 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 Positive Evaluation report on BREUF (preview of web page 1 of three proven beneath):
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