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REIT Dividends: 3 TSX Stocks That Yield Over 5%

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Investing in a REIT can lead to a steady cash flows as dividends. While the pandemic affected many REITs, some REITs have continued to give a dividend yield of over 5%. In this article, we will see REIT stocks listed on the Toronto Stock Exchange that give dividend yield of over 5%. 

SmartCentres REIT Dividends

SmartCentres REIT (TSX:SRU.UN) is one of REITs that is performing well and is offering an attractive dividend yield of 7% to its investors.

The REIT has more than 3,400 tenants, 167 properties and 10.7 billion in assets.

When other REITs trimmed their dividend pay-outs, SmartCentres REIT maintained the pay-out as essential service providers made up a large part of their tenant stores.

As restrictions are becoming flexible, the occupancy rate and rental yields may go up. Looking at their recovery and attractive dividend yield, SmartCentres REIT looks like an attractive investment proposition.

NorthWest Healthcare Properties REIT 

NorthWest Healthcare Properties REIT (TSX:NWH.UN) is one of the leading medical REIT in Canada. It owns and manages different medical buildings throughout the world.

The REIT is a diversified portfolio with 189 properties, with nearly 15.3 million square feet and more than 2000 tenants. It is present in seven countries.

While the stock price of the REIT may not be newsworthy, the REIT’s dividend yield has attracted a lot of investors.

The company is expanding its medical real estate all over the world. It is a defensive asset class and receives direct or indirect government funding for most medical office tenants.

In the past, the yield was almost 10%. Currently, the dividend yield hovers around 6%. The REIT can benefit from low interest rate and strong demand for medical facilities.

Dividends from H&R REIT 

H&R REIT (TSX: HR.UN) that is one of the largest diversified Canadian REIT with dividend yield of around 5.2% to its investors.

Its properties include high-quality office, industrial and residential, and retail properties with asset value of nearly $13.4 billion as on December 2020. 

The company delivered strong financial result as it streamlined their portfolio and re-invested in higher growth properties.

In the current year, the company wants to look into their discounted stock price when compared to the $21.92 NAV.

SmartCentres REIT, NorthWest Healthcare Properties REIT, H&R REIT are the three REIT stocks that give over 5% dividend yield. We can expect that these REITs can continue to perform in 2021.   

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