Top Real Estate Stocks by Dividends Paid
Top real estate companies ranked by dividends paid, latest annual filings.
What Dividends Paid Means for Real Estate Companies
Dividends paid is the cash distributed to shareholders over the latest fiscal year, from the financing section of the cash flow statement. For real estate investment trusts the figure is close to a definition of the business: the structure requires most taxable income to be distributed, and in exchange the trust owes little corporate tax. Totals are therefore large next to reported earnings, and lease income arrives on contracted schedules.
Why It Matters in Real Estate
The distribution is the reason most holders own the asset class, and its level is set against funds from operations rather than accounting profit. Net income understates what a trust can pay, because depreciation charges buildings that often hold or gain value, which is why a payout that looks impossible on an earnings basis is ordinary in real estate. Lease structure, occupancy, and debt maturities decide whether it holds.
What to Read Alongside
Read it against Net Income, which depreciation holds down, Free Cash Flow for the cash actually generated, and Total Assets for the property base behind the distribution.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | PLD | Prologis, Inc. | Real Estate | $3.76B | $120.04B |
| 2 | AMT | American Tower Corporation | Real Estate | $3.18B | $87.73B |
| 3 | O | Realty Income Corporation | Real Estate | $2.92B | $54.09B |
| 4 | CCI | Crown Castle Inc. | Real Estate | $2.08B | $37.21B |
| 5 | NLY | Annaly Capital Management, Inc. | Real Estate | $1.88B | $13.76B |
| 6 | WELL | Welltower Inc. | Real Estate | $1.88B | $173.38B |
| 7 | EQIX | Equinix, Inc. | Real Estate | $1.86B | $95.48B |
| 8 | VICI | VICI Properties Inc. | Real Estate | $1.85B | $26.45B |
| 9 | DLR | Digital Realty Trust, Inc. | Real Estate | $1.73B | $64.75B |
| 10 | AGNC | AGNC Investment Corp. | Real Estate | $1.60B | $10.41B |
| 11 | EXR | Extra Space Storage Inc. | Real Estate | $1.37B | $30.29B |
| 12 | VMRK | AvalonBay Communities, Inc. | Real Estate | $1.05B | $48.58B |
| 13 | SUI | Sun Communities, Inc. | Real Estate | $1.04B | $14.60B |
| 14 | IRM | Iron Mountain Incorporated | Real Estate | $919.39M | $33.66B |
| 15 | ARE | Alexandria Real Estate Equities, Inc. | Real Estate | $911.45M | $7.47B |
| 16 | GLPI | Gaming and Leisure Properties, Inc. | Real Estate | $871.87M | $11.46B |
| 17 | VTR | Ventas, Inc. | Real Estate | $860.06M | $44.84B |
| 18 | DOC | Healthpeak Properties, Inc. | Real Estate | $849.10M | $13.35B |
| 19 | WPC | W. P. Carey Inc. | Real Estate | $790.03M | $14.67B |
| 20 | OHI | Omega Healthcare Investors, Inc. | Real Estate | $780.39M | $14.24B |
| 21 | INVH | Invitation Homes Inc. | Real Estate | $712.84M | $16.25B |
| 22 | KIM | Kimco Realty Corporation | Real Estate | $711.75M | $15.86B |
| 23 | MAA | Mid-America Apartment Communities, Inc. | Real Estate | $709.02M | $13.87B |
| 24 | STWD | Starwood Property Trust, Inc. | Real Estate | $668.86M | $4.64B |
| 25 | LAMR | Lamar Advertising Company | Real Estate | $656.22M | $15.94B |
| 26 | ESS | Essex Property Trust, Inc. | Real Estate | $654.07M | $17.69B |
| 27 | BXP | BXP, Inc. | Real Estate | $643.11M | $9.94B |
| 28 | HST | Host Hotels & Resorts, Inc. | Real Estate | $623.00M | $17.17B |
| 29 | WY | Weyerhaeuser Company | Real Estate | $606.00M | $14.11B |
| 30 | UDR | UDR, Inc. | Real Estate | $567.86M | $11.47B |
| 31 | LINE | Lineage, Inc. | Real Estate | $537.00M | $8.14B |
| 32 | REG | Regency Centers Corporation | Real Estate | $511.56M | $13.49B |
| 33 | SBAC | SBA Communications Corporation | Real Estate | $479.01M | $19.72B |
| 34 | CUBE | CubeSmart | Real Estate | $476.31M | $9.04B |
| 35 | CPT | Camden Property Trust | Real Estate | $460.95M | $11.80B |
| 36 | AMH | American Homes 4 Rent | Real Estate | $446.29M | $11.55B |
| 37 | NNN | NNN REIT, Inc. | Real Estate | $443.20M | $8.07B |
| 38 | BEKE | KE Holdings Inc. | Real Estate | $412.00M | $19.32B |
| 39 | REXR | Rexford Industrial Realty, Inc. | Real Estate | $397.50M | $8.14B |
| 40 | ELS | Equity LifeStyle Properties, Inc. | Real Estate | $387.96M | $11.85B |
| 41 | HR | Healthcare Realty Trust Incorporated | Real Estate | $386.92M | $6.16B |
| 42 | ADC | Agree Realty Corporation | Real Estate | $340.65M | $8.77B |
| 43 | BXMT | Blackstone Mortgage Trust, Inc. | Real Estate | $322.73M | $1.79B |
| 44 | ABR | Arbor Realty Trust, Inc. | Real Estate | $319.95M | $539.15M |
| 45 | EGP | EastGroup Properties, Inc. | Real Estate | $302.51M | $10.75B |
| 46 | MRP | Millrose Properties, Inc. | Real Estate | $298.81M | $3.97B |
| 47 | RYN | Rayonier Inc. | Real Estate | $292.06M | $5.64B |
| 48 | EPR | EPR Properties | Real Estate | $290.72M | $4.32B |
| 49 | SBRA | Sabra Health Care REIT, Inc. | Real Estate | $289.50M | $5.05B |
| 50 | RHP | Ryman Hospitality Properties, Inc. | Real Estate | $285.58M | $9.12B |
| 51 | STAG | STAG Industrial, Inc. | Real Estate | $283.97M | $7.00B |
| 52 | ARR | ARMOUR Residential REIT, Inc. | Real Estate | $283.51M | $1.79B |
| 53 | PK | Park Hotels & Resorts Inc. | Real Estate | $280.00M | $3.34B |
| 54 | COLD | Americold Realty Trust, Inc. | Real Estate | $261.38M | $4.17B |
| 55 | CTRE | CareTrust REIT, Inc. | Real Estate | $259.35M | $8.74B |
| 56 | KRC | Kilroy Realty Corporation | Real Estate | $257.86M | $4.27B |
| 57 | DX | Dynex Capital, Inc. | Real Estate | $246.60M | $2.70B |
| 58 | SLG | SL Green Realty Corp. | Real Estate | $242.63M | $3.58B |
| 59 | APLE | Apple Hospitality REIT, Inc. | Real Estate | $240.43M | $4.31B |
| 60 | KRG | Kite Realty Group Trust | Real Estate | $236.48M | $4.94B |
| 61 | EPRT | Essential Properties Realty Trust, Inc. | Real Estate | $233.94M | $5.98B |
| 62 | FR | First Industrial Realty Trust, Inc. | Real Estate | $231.22M | $7.32B |
| 63 | BNL | Broadstone Net Lease, Inc. | Real Estate | $218.78M | $3.31B |
| 64 | HIW | Highwoods Properties, Inc. | Real Estate | $216.73M | $3.35B |
| 65 | IIPR | Innovative Industrial Properties, Inc. | Real Estate | $216.28M | $1.48B |
| 66 | CUZ | Cousins Properties Incorporated | Real Estate | $215.80M | $4.80B |
| 67 | OUT | OUTFRONT Media Inc. | Real Estate | $210.30M | $5.58B |
| 68 | TRNO | Terreno Realty Corporation | Real Estate | $203.89M | $7.08B |
| 69 | MPT | Medical Properties Trust, Inc. | Real Estate | $193.26M | $1.67B |
| 70 | GNL | Global Net Lease, Inc. | Real Estate | $192.06M | $1.65B |
| 71 | MAC | The Macerich Company | Real Estate | $188.21M | $6.91B |
| 72 | EFC | Ellington Financial Inc. | Real Estate | $183.63M | $1.51B |
| 73 | ORC | Orchid Island Capital, Inc. | Real Estate | $178.86M | $972.68M |
| 74 | NHI | National Health Investors, Inc. | Real Estate | $169.70M | $3.31B |
| 75 | LXP | LXP Industrial Trust | Real Estate | $164.27M | $3.60B |
| 76 | AHR | American Healthcare REIT, Inc. | Real Estate | $163.52M | $11.67B |
| 77 | PECO | Phillips Edison & Company, Inc. | Real Estate | $157.28M | $4.97B |
| 78 | IRT | Independence Realty Trust, Inc. | Real Estate | $154.39M | $3.52B |
| 79 | MFA | MFA Financial, Inc. | Real Estate | $148.18M | $671.22M |
| 80 | FBRT | Franklin BSP Realty Trust, Inc. | Real Estate | $145.58M | $523.19M |
| 81 | FCPT | Four Corners Property Trust, Inc. | Real Estate | $143.98M | $2.46B |
| 82 | VNO | Vornado Realty Trust | Real Estate | $141.28M | $6.50B |
| 83 | ARI | Apollo Commercial Real Estate Finance, Inc. | Real Estate | $141.28M | $848.39M |
| 84 | PMT | PennyMac Mortgage Investment Trust | Real Estate | $139.37M | $615.65M |
| 85 | CDP | COPT Defense Properties | Real Estate | $136.60M | $3.87B |
| 86 | DEI | Douglas Emmett, Inc. | Real Estate | $127.26M | $1.70B |
| 87 | CIM | Chimera Investment Corporation | Real Estate | $122.70M | $702.34M |
| 88 | LADR | Ladder Capital Corp | Real Estate | $117.41M | $1.17B |
| 89 | GTY | Getty Realty Corp. | Real Estate | $108.65M | $1.88B |
| 90 | LTC | LTC Properties, Inc. | Real Estate | $107.39M | $2.37B |
| 91 | IVR | Invesco Mortgage Capital Inc. | Real Estate | $106.90M | $602.77M |
| 92 | AAT | American Assets Trust, Inc. | Real Estate | $105.25M | $1.31B |
| 93 | AKR | Acadia Realty Trust | Real Estate | $101.33M | $2.59B |
| 94 | DRH | DiamondRock Hospitality Company | Real Estate | $98.31M | $2.85B |
| 95 | UE | Urban Edge Properties | Real Estate | $95.54M | $2.43B |
| 96 | DEA | Easterly Government Properties, Inc. | Real Estate | $94.59M | $1.10B |
| 97 | ALX | Alexander's, Inc. | Real Estate | $92.42M | $1.28B |
| 98 | RLJ | RLJ Lodging Trust | Real Estate | $91.36M | $1.86B |
| 99 | SHO | Sunstone Hotel Investors, Inc. | Real Estate | $86.39M | $2.35B |
| 100 | CURB | Curbline Properties Corp. | Real Estate | $77.38M | $3.45B |
No companies match this search.
This list ranks the total dollars paid out over the latest fiscal year, so the largest companies lead it; a big payout says nothing about the yield a share buys today. A company whose balance sheet runs above 150 times its market cap is left out, because at that gap the accounts are not in US dollars.
How this ranking is built
Companies are ranked by dividends paid as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why do property trusts pay out so much?
The trust structure requires most taxable income to be distributed to shareholders each year, and in exchange the entity pays little corporate tax on that income. Distribution is part of the definition of the vehicle rather than a discretionary decision, which is why totals in this ranking look enormous next to reported earnings for companies of a similar size in other sectors.
Why is net income the wrong test for a property payout?
Depreciation assumes buildings lose value steadily, while well-located property often holds or gains it, so the accounting charge understates the cash a trust generates. Funds from operations adds that charge back and is the measure the sector sets distributions against. A payout that looks uncovered on an earnings basis can be comfortable once depreciation is taken out of the comparison.