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3 Canadian REITs With A Dividend Yield of Over 4%


If you are looking to invest in real estate segment without the need to buy a plot, REITs can be a good investment option. It also offers regular dividends to their investors.

So, you can invest in a REIT and earn dividends that can act as an additional source of income.


H&R REIT is a REIT with a dividend yield of over 4%. At the time of writing, according to H&R REIT Website, its current monthly distribution is $0.0575 per unit which is equal to an annual dividend of $0.69 per unit i.e. with an approximate yield of 5.2%.

H&R REIT is one of the Canada’s largest diversified REITs with assets of approximately $13.4 billion as on December 31, 2020. It has high-quality office, industrial and residential, and retail properties.

Last year, it recycled capital, streamlined their portfolio and re-invested into higher growth properties that helped the company to have strong financial results.

In 2021, the company aims to pursue opportunities that can help in increasing unitholder value and create new entities that have defined mandates. Moreover, the management also aims to address their discounted trading unit price when compared to the REIT’s NAV per unit of $21.92.

Allied Properties REIT 

Allied Properties REIT offers a dividend yield of 4.43% with a distribution of $0.1417 per unit for February that translates to $1.70 annualised dividend on per unit.

Allied Properties develops urban workspace and data centres with a focus on Class I workspace. It has around 160 urban properties including 132 rental properties with other development properties with an area of nearly 11 million square feet across Canada. Its portfolio consists of a mix of new and historical buildings.

A major part of REIT’s net operating income i.e., 69% comes from office space accounts, 18% from urban data centres, 8% from retail and 5% from parking.

Granite REIT

Granite Real Estate Investment Trust declared a distribution of $0.250 per unit for February 2021.

Granite Real Estate Investment Trust is a Canada-based that acquires, develops and owns warehouse, logistics properties in Canada and other countries. As a result, the REIT aims to benefit from the e-commerce trend.

The dividend distributed by the Granite REIT has consistently increased in the last five years.  

There has been no significant impact of the pandemic on Granite’s operations, assets and liabilities because of the pandemic with no major fair value losses on investment properties in the year 2020.

Going forward, the company does not expect that the pandemic will impact its investment property and has received 100% of 2020 rent and 99.9% February’s rent.

If you are looking for REITs with attractive monthly yields, you can look at these three REITs.

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