Best Reits in Canada This September 2025
Real Estate Investment Trusts (REITs) continue to be a popular choice for Canadians seeking stable income through real estate exposure. As investors explore various investment options in the Canadian market, REITs offer an accessible way to diversify portfolios and generate passive income through property investments without the hassles of direct ownership.
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Summary Table for Best Reits in Canada This September 2025
| Stock | Dividend | 1-Year Return | Learn More |
|---|---|---|---|
|
Granite REIT (GRT.UN) Dividend Income |
4.4% | 12.63% | Learn More |
|
Boardwalk REIT (BEI.UN) Dividend Income |
2.37% | -18.85% | Learn More |
|
SmartCentres REIT (SRU.UN) Dividend Income |
6.98% | 9.52% | Learn More |
|
Allied Properties REIT (AP.UN) Dividend Income |
8.62% | 4.09% | Learn More |
|
BTB REIT (BTB.UN) Dividend Income |
7.98% | 2.78% | Learn More |
|
Nexus REIT (NXR.UN) Dividend Income |
8.28% | N/A | Learn More |
|
Killam Apartment REIT (KMP.UN) Dividend Income |
3.99% | -14.40% | Learn More |
|
Firm Capital REIT (FCD.UN) Dividend Income |
8.59% | N/A | Learn More |
|
PROREIT (PRV.UN) Dividend Income |
7.71% | -0.5% | Learn More |
|
Artis REIT (AX.UN) Dividend Income |
9.90% | -24.25% | Learn More |
1. Granite REIT (GRT.UN)
Granite REIT stands out as a leading Canadian-based REIT focused on logistics, warehouse and industrial properties across North America, offering investors a compelling combination of stable monthly income through a well-covered 4.4% dividend yield and strong development potential.
Granite REIT (GRT.UN)
- Industrial and logistics property portfolio across North America
- Monthly dividend distributions of $0.28 per share
- Strong 62.4% dividend payout ratio indicating sustainability
- Consensus "Strong Buy" rating from analysts
Pros
- Well-diversified industrial property portfolio
- Strong dividend coverage ratio
- Unanimous analyst "Strong Buy" ratings
- Strategic focus on logistics and warehouse properties
Cons
- Negative 1-year return of -3.91%
- Industrial sector exposure to economic cycles
- Interest rate sensitivity as a REIT
Why is it Our Top Pick?
Granite REIT combines the stability of industrial real estate with an attractive 4.4% dividend yield and strong growth potential through strategic acquisitions and development. With a conservative payout ratio of 62.4% and unanimous "Strong Buy" ratings from analysts targeting 19.8% upside, it offers both income and growth potential for investors.
2. Boardwalk REIT (BEI.UN)
Boardwalk REIT is Canada's leading owner/operator of multi-family rental communities, offering investors exposure to the residential rental market with a proven track record of delivering exceptional long-term returns, evidenced by its impressive 151% 5-year return.
Boardwalk REIT (BEI.UN)
- Focused on residential multi-family communities
- Monthly dividend payments of $0.135 per share
- Conservative 22-25% payout ratio
- Strong analyst price targets indicating 19.80% upside
Pros
- Market leader in residential rental communities
- Strong dividend coverage ratio
- Impressive long-term track record
- Analyst consensus "Moderate Buy" rating
Cons
- Recent underperformance (-18.85% 1-year return)
- Lower yield compared to other REITs
- Exposure to interest rate and inflation pressures
3. SmartCentres REIT (SRU.UN)
SmartCentres REIT stands out as a leading Canadian retail REIT with an impressive 98.6% occupancy rate across its 174 strategically located properties, offering investors a compelling combination of stable monthly income and strong portfolio growth potential.
SmartCentres REIT (SRU.UN)
- Portfolio of 35.6 million square feet of income-producing retail space
- 98.6% occupancy rate with strong tenant retention
- 174 strategically located properties across Canada
- Significant development pipeline including residential and mixed-use projects
Pros
- High occupancy rate of 98.6%
- Strong dividend yield above 6.9%
- Diversified portfolio across multiple property types
- Stable monthly income stream
Cons
- Dependent on retail sector performance
- Interest rate sensitivity
- Market competition in retail real estate
- Development risks in new projects
4. Allied Properties REIT (AP.UN)
Allied Properties REIT is a distinctive urban workspace leader in Canada's major cities, offering investors exposure to premium office properties with an attractive 8.62% dividend yield and a focus on knowledge-based organizations.
Allied Properties REIT (AP.UN)
- Focus on urban office environments in major Canadian cities
- 87.4% of portfolio in office space
- Strong presence in Toronto (50.7% of gross leasable area)
- Specialized in knowledge-based organizations
Pros
- Strong dividend reliability (0.98/1.0 rating)
- Established presence in major markets
- Focus on premium urban locations
- Consistent monthly income stream
Cons
- High market concentration in Toronto (50.7% exposure)
- Office sector concentration risk (87.4% of portfolio)
- Negative price target forecast (-16.77%)
- High payout ratio of 398.95%
5. BTB REIT (BTB.UN)
BTB REIT offers investors an attractive 8% dividend yield through its portfolio of industrial, suburban office, and necessity-based retail properties across Canada, making it an appealing choice for income-focused investors.
BTB REIT (BTB.UN)
- Listed on Toronto Stock Exchange since 2006
- Focused on industrial, suburban office, and retail properties
- Monthly dividend distributions
- Professional property management across Canada
Pros
- Strong dividend yield above market average
- Diversified property portfolio
- Established track record since 2006
- Monthly payment schedule
Cons
- Dividend payments have decreased over past 10 years
- High payout ratio relative to earnings
- Limited analyst coverage (only 2 analysts)
6. Nexus REIT (NXR.UN)
Nexus REIT is a growth-oriented industrial REIT focused on acquiring and managing high-quality industrial properties across Canada, offering investors both capital appreciation potential and a substantial 8.28% dividend yield.
Nexus REIT (NXR.UN)
- Growth-focused industrial property portfolio
- High-quality industrial assets across Canada
- TSX-listed REIT structure
- Professional management team
Pros
- Strong current dividend yield
- Focus on industrial real estate sector
- Monthly income payments
- Clear growth strategy
Cons
- High payout ratio over 200%
- Mixed analyst ratings (5 hold, 2 buy)
- May be sensitive to industrial sector cycles
- Potential dividend sustainability concerns
7. Killam Apartment REIT (KMP.UN)
Killam Apartment REIT is one of Canada's largest residential REITs, managing a $5.5 billion portfolio of apartments and manufactured home communities across Atlantic Canada, Ontario, Alberta, and British Columbia.
Killam Apartment REIT (KMP.UN)
- Diverse portfolio across multiple Canadian provinces
- $5.5 billion in real estate assets
- Monthly distribution of $0.06 per unit
- Distribution Reinvestment Plan (DRIP) with 3% bonus
Pros
- Strong analyst consensus with "moderate buy" rating
- Substantial portfolio value of $5.5 billion
- Consistent monthly distributions
- Geographic diversification
Cons
- Negative 1-year return (-14.40%)
- Higher interest rate environment impacts
- Property maintenance costs
- Regional market exposure risks
8. Firm Capital REIT (FCD.UN)
Firm Capital Property Trust is a diversified REIT focused on long-term value creation through disciplined investing and capital preservation, offering one of the highest dividend yields in the Canadian REIT sector at 8.59%.
Firm Capital REIT (FCD.UN)
- High dividend yield of 8.59%
- Monthly distribution schedule
- DRIP program available
- Diversified real estate portfolio
Pros
- Among highest REIT yields in Canada
- Monthly income potential
- Disciplined investment approach
- Strong capital preservation focus
Cons
- Mixed analyst signals (short-term buy, long-term sell)
- Market volatility concerns
- Higher risk profile
- Limited growth metrics available
9. PROREIT (PRV.UN)
Founded in 2013, PROREIT offers investors exposure to a high-quality commercial real estate portfolio focused on industrial properties in robust secondary markets across Canada, delivering a compelling 7.71% dividend yield paid monthly.
PROREIT (PRV.UN)
- Portfolio of high-quality commercial real estate properties across Canada
- Strong focus on industrial properties in secondary markets
- Established track record since 2013
- Monthly dividend distributions
Pros
- Strong analyst support with 10 Buy ratings
- Consistent monthly dividend payments
- Focused industrial property strategy
- Professional management team
Cons
- Negative 1-year return (-0.5%)
- Underperformed broader market
- Exposure to interest rate risk
- Concentrated in secondary markets
10. Artis REIT (AX.UN)
Artis REIT is a diversified Canadian real estate investment trust offering an impressive 9.90% dividend yield through its portfolio of industrial, office, and retail properties across Canada and the United States.
Artis REIT (AX.UN)
- Diversified portfolio across industrial, office, and retail sectors
- Properties in both Canada and United States
- Monthly dividend distributions
- High dividend yield above 9.9%
Pros
- One of the highest REIT dividend yields (9.90%)
- Monthly income stream
- Diversified property portfolio
- International exposure
Cons
- Significant negative returns (-24.25% 1-year)
- Poor YTD performance (-17%)
- Dividend coverage concerns
- Price volatility
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
Frequently Asked Questions: Best Reits in Canada This September 2025
What are the best performing REITs in Canada September 2025?
Granite REIT (GRT.UN) leads the pack with an 8.2% dividend yield, followed by Boardwalk REIT at 7.9% and SmartCentres REIT at 7.5%.
Which Canadian REIT has the highest dividend yield in 2025?
Granite REIT (GRT.UN) offers the highest dividend yield at 8.2% among major Canadian REITs as of September 2025.
How do I choose the best Canadian REIT for investment in 2025?
Focus on REITs with strong property portfolios and consistent dividend growth, like SmartCentres REIT (SRU.UN) with its 98% occupancy rate and BTB REIT's diversified commercial properties.
