Best REITs in Canada This November 2025
Real estate investment trusts (REITs) continue to offer Canadian investors compelling opportunities for portfolio diversification and passive income. REITs in Canada have demonstrated remarkable resilience, with total market capitalization growing to $85.2 billion in 2025, according to Renx Real Estate News. For investors looking to understand real estate investment fundamentals, this comprehensive guide explores the top-performing REITs that are delivering exceptional value this November. Whether you're a seasoned investor or just beginning to explore real estate investment strategies, these carefully selected REITs represent the most promising opportunities in the Canadian market.
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Summary Table for Best REITs in Canada This November 2025
| Stock | Dividend | 1-Year Return | Learn More |
|---|---|---|---|
|
RioCan Real Estate Investment Trust (REI.UN) Dividend Income |
6.08% | 12.8% | Learn More |
|
Allied Properties Real Estate Investment Trust (AP.UN) Dividend Income |
11.91% | 10.62% | Learn More |
|
Granite REIT (GRT.UN) Dividend Income |
4.44% | 8.81% | Learn More |
|
NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN) Dividend Income |
6.80% | 6.00% | Learn More |
|
Boardwalk REIT (BEI.UN) Dividend Income |
2.52% | 169.22% | Learn More |
|
SmartCentres Real Estate Investment Trust (SRU.UN) Dividend Income |
6.90% | 14.79% | Learn More |
|
CT Real Estate Investment Trust (CRT.UN) Dividend Income |
5.79% | 13.87% | Learn More |
|
Canadian Apartment Properties REIT (CAR.UN) Dividend Income |
3.99% | 11.54% | Learn More |
|
Dream Industrial REIT (DIR.UN) Dividend Income |
5.79% | 2.92% | Learn More |
|
H&R REIT (HR.UN) Dividend Income |
5.1% | 6.54% | Learn More |
1. RioCan Real Estate Investment Trust (REI.UN)
RioCan is one of Canada's largest Real Estate Investment Trusts, specializing in necessity-based and mixed-use properties across densely populated urban centers. With a strategic focus on retail and mixed-use developments, RioCan offers investors a stable, dividend-generating investment in the Canadian real estate market.
RioCan Real Estate Investment Trust (REI.UN)
- Owns and manages retail-focused and mixed-use properties
- Majority of properties located in Ontario, Canada
- Focuses on necessity-based shopping centers
- Diversified tenant mix across various retail sectors
Pros
- One of Canada's largest Real Estate Investment Trusts
- Diverse property portfolio
- Strong focus on necessity-based retail
- Attractive dividend yield
Cons
- Sensitivity to real estate market fluctuations
- Potential impact of economic downturns
- Concentration of properties in Ontario
Why is it Our Top Pick?
RioCan stands out as a top pick due to its robust portfolio of necessity-based retail properties and consistent dividend yield. The REIT's strategic focus on mixed-use developments in densely populated urban centers provides investors with a stable and potentially growing income stream, making it an attractive option for income-oriented investors.
2. Allied Properties Real Estate Investment Trust (AP.UN)
Allied Properties REIT is a leading owner and developer of urban office spaces across major Canadian cities, providing distinctive workspace solutions for knowledge-based organizations. With a high dividend yield and strategic urban property portfolio, it offers investors an attractive opportunity in the Canadian commercial real estate market.
Allied Properties Real Estate Investment Trust (AP.UN)
- Owns urban workspace in Toronto, Vancouver, Calgary, Montréal
- Focuses on knowledge-based organization office spaces
- Presence in major Canadian urban centers
- Strategic urban property development
Pros
- Leading owner-operator of urban workspace
- Strong presence in major Canadian cities
- Attractive dividend yield
- Potential for long-term growth
Cons
- Recent stock price volatility
- Unprofitable in recent years
- Potential economic sensitivity
- High payout ratio (398.95%)
3. Granite REIT (GRT.UN)
Granite REIT is a leading Canadian real estate investment trust focused on logistics, warehouse, and industrial properties across North America. With a strong track record of growth and a consistently attractive dividend yield, this REIT offers investors a compelling opportunity in the industrial real estate sector.
Granite REIT (GRT.UN)
- Canadian-based REIT specializing in logistics and industrial properties
- Focuses on acquisition, development, and management of warehouse real estate
- Operates across North America with a diverse property portfolio
- Strong consensus "Buy" rating from Wall Street analysts
Pros
- Robust performance in industrial real estate sector
- Positive analyst recommendations
- Stable dividend income
- Diversified North American property portfolio
Cons
- Potential sensitivity to real estate market fluctuations
- Dependency on industrial and logistics sector performance
- Dividend yield might be affected by market conditions
4. NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN)
NorthWest Healthcare Properties is a specialized real estate investment trust operating globally in healthcare real estate, offering investors exposure to a resilient and growing sector across eight countries. Despite recent dividend adjustments, the REIT provides an attractive high-yield investment opportunity in the healthcare property market.
- Specialized in healthcare real estate globally
- Operates in eight high-growth and resilient countries
- Focuses on medical, research, and healthcare facilities
- Publicly traded on Toronto Stock Exchange
Pros
- Specialized focus on healthcare properties
- Global operational presence
- Attractive dividend yield
- Potential for stable long-term growth
Cons
- Recent dividend reduction from $0.80 to $0.36
- Potential valuation challenges
- Sensitivity to interest rate fluctuations
- Perceived investment risk based on fair value calculations
5. Boardwalk REIT (BEI.UN)
Boardwalk REIT is a prominent Canadian real estate investment trust specializing in residential property management, offering investors a stable dividend yield and strong long-term performance across its extensive portfolio of rental properties.
Boardwalk REIT (BEI.UN)
- Residential real estate investment trust
- Listed on Toronto Stock Exchange
- Focuses on property acquisition and management
- Operates across multiple Canadian markets
Pros
- Stable real estate portfolio
- Regular income through monthly distributions
- Positive analyst ratings
Cons
- Recent underperformance compared to market index
- Lower 1-year return compared to broader market
- Limited geographical diversification
6. SmartCentres Real Estate Investment Trust (SRU.UN)
SmartCentres Real Estate Investment Trust is a comprehensive Canadian REIT with a diverse portfolio spanning retail, office, and residential properties, offering investors an attractive high-yield dividend opportunity with strong market positioning.
SmartCentres Real Estate Investment Trust (SRU.UN)
- Integrated commercial and residential REIT
- Approximately $12 billion in total assets
- 35.6 million square feet of income-producing property
- 174 strategically located properties
Pros
- Monthly dividend payments
- Significant asset base
- Diverse property types
Cons
- Potential market volatility
- Dependency on retail and commercial real estate sectors
- Sensitivity to economic fluctuations
7. CT Real Estate Investment Trust (CRT.UN)
CT Real Estate Investment Trust is a specialized REIT that owns income-producing commercial properties primarily across Canada, with a strong focus on retail properties leased to Canadian Tire Corporation, offering investors a stable and strategically positioned real estate investment opportunity.
CT Real Estate Investment Trust (CRT.UN)
- Owns a Canada-wide portfolio of high-quality assets
- Primarily leased to Canadian Tire Corporation
- Focuses on income-producing commercial properties
- Consistently increasing earnings through rent escalations
Pros
- Strong investment-grade tenant
- Nationwide property portfolio
- Proven track record of earnings increase
- Attractive dividend yield
Cons
- Dependent on retail property market
- Concentrated tenant base
- Potential economic sensitivity
- Market volatility risks
8. Canadian Apartment Properties REIT (CAR.UN)
Canadian Apartment Properties REIT is Canada's largest residential landlord, owning over 40,000 apartment suites and providing investors with a robust and strategically positioned real estate investment in the residential rental market.
Canadian Apartment Properties REIT (CAR.UN)
- Largest publicly traded residential rental housing provider
- Owns over 40,000 apartment suites
- Comprehensive national housing portfolio
- Consistent dividend payments
Pros
- Market leadership in residential rentals
- Strong business model
- Consistent performance
- Moderate buy rating from analysts
Cons
- Underperforming broader market indices
- Potential economic sensitivity
- Concentration in residential sector
- Limited geographic diversification
9. Dream Industrial REIT (DIR.UN)
Dream Industrial REIT is a diversified industrial real estate investment trust with a global portfolio of well-located properties, offering investors a robust income-generating opportunity with a compelling 5.79% dividend yield and strong market positioning.
Dream Industrial REIT (DIR.UN)
- Global portfolio of diversified industrial properties
- Well-located real estate assets across multiple markets
- Unincorporated, open-ended real estate investment trust
- Market capitalization of approximately $3.535 billion
Pros
- Stable income generation
- Monthly dividend payments
- Diversified real estate holdings
- Solid market reputation
Cons
- Sensitive to interest rate fluctuations
- Recent underperformance compared to market index
- Potential challenges in elevated interest rate environment
- Limited dividend growth historically
10. H&R REIT (HR.UN)
H&R REIT is one of Canada's largest real estate investment trusts, offering a diverse portfolio spanning residential, industrial, office, and retail properties across Canada and the United States, with an attractive 5.1% dividend yield.
H&R REIT (HR.UN)
- Diversified real estate portfolio across Canada and US
- Market capitalization of $3.3 billion
- Properties include residential, industrial, office, and retail
- Fully internalized real estate investment trust
Pros
- Consistent monthly income
- Diversified property portfolio
- Attractive dividend yield
- Experienced management team
Cons
- Moderate one-year return performance
- Sensitivity to real estate market fluctuations
- High payout ratio of 256.61%
- Potential impact of interest rate changes
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.
About the author
Frequently Asked Questions: Best REITs in Canada This November 2025
What are the top-performing REITs in Canada for November 2025?
RioCan Real Estate Investment Trust (REI.UN), Allied Properties (AP.UN), and Granite REIT (GRT.UN) are currently leading the Canadian REIT market with strong dividend yields and stable performance.
How do I choose the best REIT investment in Canada right now?
Consider factors like sector specialization, dividend yield, market capitalization, and historical performance, with NorthWest Healthcare Properties (NWH.UN) offering unique healthcare real estate opportunities.
Which Canadian REITs offer the highest dividend returns in November 2025?
Boardwalk REIT (BEI.UN) and RioCan are currently providing competitive dividend yields between 4-6% for investors seeking consistent income streams.
What should Canadian investors look for when selecting a REIT in 2025?
Investors should analyze portfolio diversity, occupancy rates, geographic distribution, and financial stability, with Granite REIT demonstrating strong industrial and logistics property performance.
Which REIT sectors are most promising in the Canadian market this November?
Healthcare, residential, and urban commercial REITs like NorthWest Healthcare and Allied Properties are showing the most resilient and attractive investment potential in the current market.