3 High Dividend REITs Yielding Over 5%

Investors looking for high dividend yields often turn to real estate investment trusts, or REITs. REITs exist virtually entirely to generate income that is then substantially completely returned to shareholders via dividends. 

In this way, REITs can be an excellent way to generate passive streams of income.

This article will discuss 3 high-dividend REITs that have yields above 4% and sustainable dividends for the long run, making them attractive for income investors.

Community Healthcare Trust (CHCT)

Community Healthcare Trust is a REIT which owns income-producing real estate properties linked to the healthcare sector, such as physician offices, specialty centers, behavioral facilities, inpatient rehabilitation facilities, and medical office buildings, in the trust’s target sub-markets within the United States.

The trust has investments in 200 properties in 36 states, totaling 4.6 million square feet.

On February 17th, 2026, Community Healthcare Trust reported fourth quarter results for the period ending December 31st, 2025. Funds from operations (FFO) per share rose 2% to $0.49 from $0.48 in the prior year quarter. Adjusted FFO per share was flat at $0.55.

During the quarter, Community Healthcare disposed of three properties, earning net proceeds of $32 million. The trust also has five properties under definitive purchase agreements, with a combined purchase price of roughly $123 million, expected to close from 2025 through 2027.

CHCT acquired one inpatient rehabilitation facility in Florida for $26.5 million. It was 100% leased to a tenant through 2040.

The board of directors passed a 0.5% increase to the quarterly dividend to $0.4775 per share, or an annualized rate of $1.91 per share. CHCT has increased its dividend every quarter since its IPO.

CHCT currently yields 10.9%.

NNN REIT (NNN)

National Retail Properties (NNN) is a triple-net lease REIT that owns single-tenant retail properties across the United States. The company is focused on retail customers because they are much more likely to accept rent hikes to avoid switching locations and losing their customer base. 

Thanks to this disciplined strategy and 1,000+ property portfolio, National Retail has offered consistent growth with markedly low volatility. It is also characterized by very high occupancy rates, which reached 98.3% at year-end 2025; its 15-year low occupancy rate is 96% and it typically ranges between 98%-99%. 

NNN is a Dividend Champion with 36 consecutive years of dividend increases. 

On February 11, 2026, NNN REIT, Inc. reported fourth-quarter and full-year 2025 results with record acquisitions and strong dividend growth. For Q4 2025, AFFO per share increased 6.1% year-over-year to $0.87, while core FFO per share similarly rose 6.1% to $0.87. For the full year, AFFO per share was $3.44 (up 2.7%) and core FFO per share was $3.41 (up 2.7%). 

The company achieved record investment volume in 2025 with acquisitions totaling just over $900 million across the year at a 7.4% average initial cap rate, the highest in company history. Portfolio occupancy strengthened to 98.3% at year-end, representing an 80-basis-point sequential improvement, with annualized base rent rising nearly 8% year-over year to $928 million. 

NNN announced its 36th consecutive annual dividend increase and repaid a $400 million 4% coupon note while maintaining a strong balance sheet. The company executed forward term swaps totaling $200 million at a fixed 3.22% SOFR and maintained Baa1 ratings with no floating-rate debt. 

Management's 2026 guidance projects AFFO per share of $3.52–$3.58, with the midpoint representing approximately 3.2% growth for the full year. The trust’s high level of occupancy should afford it low single-digit levels of revenue growth in the years ahead, while slightly increasing margins should continue to see it growing FFO-per-share at a low-to-mid-single-digit rate. The bulk of National Retail’s FFO-per-share growth will come from net new property acquisitions.

NNN stock currently yields 5.4%.

Innovative Industrial Properties (IIPR)

Innovative Industrial Properties, Inc. is a single-use “specialty REIT” that exclusively focuses on owning properties used for the cultivation and production of cannabis.

The REIT owned 112 properties in 19 states at the end of June. Due to the cannabis boom over the past few years, as well as its exclusivity in terms of the listing giving the trust access to public markets, Innovate Industrial Properties is a truly unique REIT.

On February 23rd, 2026, IIPR posted its Q4 results for the period ending December 31st, 2025. Revenues and AFFO per share were $66.7 million and $1.88, down 13% and 15% year-over-year, respectively.

The year-over-year revenue decline was primarily driven by an $8.5 million decrease in rental revenue and a $1.6 million decrease in tenant reimbursements, largely attributable to tenant defaults related to PharmaCann, TILT and 4Front.

Interest and other income increased to $6.7 million, primarily reflecting $5.0 million of interest and dividend income from financial investments in IQHQ.

During the quarter, the company executed new leases totaling 70,000 square feet in North Palm Springs, California and 58,000 square feet in Holliston, Massachusetts, and in January 2026 executed a 204,000 square foot lease in Desert Hot Springs, California.

IIPR currently yields 13%.