Canadian REITs offer one of the most accessible paths to real estate income without the hassle of direct property ownership. Per Million Dollar Journey, Canadian REITs must distribute at least 90% of taxable income to unitholders, making them reliable passive income vehicles. Whether you're building a dividend portfolio or diversifying into real estate, start by tracking your investments and managing your portfolio with the right tools. Here are the 8 best Canadian REITs worth considering right now.
Quick Answer
Canadian REITs must distribute at least 90% of taxable income to unitholders, making them strong passive income vehicles. Top options include diversified, residential, retail, and industrial REITs listed on the TSX. The best choice depends on your income goals, risk tolerance, and whether you prefer residential, commercial, or industrial real estate exposure.
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Summary Table
| Item Name | Price Range | Best For | Website |
|---|---|---|---|
| Morguard North American Residential REIT | ~$13–$16/unit (TSX: MRG.UN) | Tax-efficient residential income | Visit Site |
| Granite REIT | ~$65–$80/unit (TSX: GRT.UN) | Industrial & logistics exposure | Visit Site |
| Dream Industrial REIT | ~$13–$16/unit (TSX: DIR.UN) | Canadian & European industrial growth | Visit Site |
| H&R REIT | ~$10–$13/unit (TSX: HR.UN) | Diversified commercial at value price | Visit Site |
| Canadian Apartment Properties REIT | ~$44–$52/unit (TSX: CAR.UN) | Residential rental income stability | Visit Site |
| CT REIT | ~$14–$17/unit (TSX: CRT.UN) | Retail income backed by Canadian Tire | Visit Site |
| SmartCentres REIT | ~$22–$27/unit (TSX: SRU.UN) | High-yield retail & mixed-use assets | Visit Site |
| InterRent REIT | ~$11–$14/unit (TSX: IIP.UN) | Urban multi-residential growth | Visit Site |
8 Top REITs in Canada for 2026
Below you'll find detailed information about each option, including what makes them unique and their key benefits.
1. Morguard North American Residential REIT
Morguard North American Residential REIT is a strong contender among top Canadian REITs for investors seeking stable residential income exposure across both Canada and the United States. It holds a diversified portfolio of multi-suite residential properties, providing consistent distribution income backed by steady rental demand. The REIT appeals to income-focused investors who want geographic diversification within a single holding.
Key highlights:
- Owns approximately 13,000+ residential suites across Canada and the U.S.
- Monthly distributions provide reliable passive income
- Defensive asset class with historically low vacancy rates
2. Granite REIT
Granite REIT stands out in the Canadian REIT landscape for its focus on industrial and logistics properties, benefiting directly from e-commerce growth and supply chain demand. For investors evaluating the best Canadian REITs, Granite offers a globally diversified industrial portfolio spanning Canada, the U.S., and Europe. It has a strong track record of distribution growth, making it attractive for long-term income investors.
Notable features:
- TSX-listed with consistent annual distribution increases
- Portfolio weighted toward modern logistics and e-commerce fulfillment facilities
3. Dream Industrial REIT
Dream Industrial REIT is a compelling option for Canadian investors targeting industrial real estate exposure through a domestically listed trust. It focuses on light industrial, distribution, and urban logistics assets across Canada and Europe, sectors with strong occupancy fundamentals. Its growing net asset value and competitive distribution yield make it a frequently cited pick among top-performing Canadian REITs for income and growth balance.
Key features:
- Portfolio includes 300+ properties across key Canadian and European markets
- Focused on high-demand urban last-mile logistics assets
- Consistent occupancy rates above 95%
4. H&R REIT
H&R REIT is one of Canada's largest diversified REITs, holding office, retail, industrial, and residential properties across North America. For investors researching Canadian REIT options, H&R offers broad sector exposure under a single investment, which helps reduce concentration risk compared to sector-specific funds.
Key details:
- Ticker: HR.UN on the TSX
- Portfolio includes Primaris retail assets and Lantower residential properties
- Ongoing strategic shift toward residential and industrial holdings
5. Canadian Apartment Properties REIT
Canadian Apartment Properties REIT (CAPREIT) is a top pick for investors seeking exposure to residential rental housing across Canada and Europe. As rental demand remains strong in major Canadian cities, CAPREIT provides a relatively defensive income stream backed by essential housing rather than discretionary retail or office space.
Key details:
- Ticker: CAR.UN on the TSX
- Owns over 64,000 residential suites and sites
- Consistent distribution history with long-term NAV growth
6. CT REIT
CT REIT stands out among Canadian income REITs because roughly 90% of its revenue comes from Canadian Tire Corporation leases, making cash flow highly predictable. This single-tenant concentration is a double-edged factor — lower default risk given Canadian Tire's strength, but limited diversification compared to other top Canadian REITs.
Key details:
- Ticker: CRT.UN on the TSX
- Primarily retail properties anchored by Canadian Tire stores
- Stable distributions suited for passive income investors
7. SmartCentres REIT
SmartCentres REIT ranks among top Canadian REITs for income-focused investors, built around one of the country's largest open-air retail property portfolios anchored predominantly by Walmart stores. This anchor-tenant model provides stable, recession-resistant cash flow, making distributions relatively reliable even during economic downturns.
Notable perks:
- Over 190 properties spanning roughly 35 million square feet across Canada
- Expanding into mixed-use residential and self-storage developments
- Trades on the TSX as SRU.UN with competitive distribution yields
8. InterRent REIT
InterRent REIT stands out among Canadian residential REITs for its value-add strategy — acquiring underperforming apartment buildings, renovating them, and increasing rents over time. For investors evaluating the best REITs in Canada's housing market, InterRent offers meaningful exposure to urban multi-family properties in Ontario and Quebec, where rental demand remains persistently strong. According to Million Dollar Journey, residential REITs like InterRent benefit directly from Canada's ongoing housing supply shortage.
What you get:
- Growth-oriented model with consistent net operating income improvements
- Concentrated in high-demand markets: Ottawa, Montreal, and the Greater Toronto Area
Final Words
Canada's REIT market offers strong passive income potential across retail, residential, and industrial sectors. Choose based on whether you prioritize dividend yield, growth, or sector diversification — then explore top investment platforms to start building your portfolio today.