REIT Stocks List 2026: Dividend vs FFO for 45 Equity REITs

What this list is, and what it is not

It is a list of 45 listed US equity REITs that we cover, with one question answered for each in the same way: how large was the common dividend per share in the latest filed quarter, next to the FFO, Core FFO or AFFO per share the company itself reported for that quarter? It is not every listed REIT (nor every REIT we cover: Weyerhaeuser, Medical Properties Trust and American Healthcare REIT, for example, are not in this version), it is not a ranking, and it has no prices and no yields, because neither is in an SEC filing. Mortgage REITs (loans, not property) are on our commercial mortgage REIT dividends page and listed BDCs on the BDC stocks list.

The latest filed quarter is the second quarter of 2026 for all 45: each company's Form 10-Q for the quarter ended June 30, 2026 was filed between July 28 and August 11, 2026. We checked EDGAR on October 19, 2026: no company in the list has filed a Q3 Form 10-Q, and one, Prologis, has filed an Item 2.02 Form 8-K with Q3 results (October 15, 2026; Core FFO of $1.60 a share). The Q3 reports and 10-Qs arrive from late October to mid-November.

The 45 REITs, by property type

How to read the tables. "Measure the company reports" is the name the company uses and "Per share" the Q2 2026 figure as printed in its earnings release or supplemental, from the Form 8-K accession shown first. "Dividend per share, Q2 2026" is the common dividend for the quarter from the Form 10-Q (the XBRL tag where one exists, otherwise the statement of equity or the release), with the word the filing uses, "declared" or "paid" (39 and 6 of the 45); the Form 10-Q or 8-K accession is shown second. "Dividend / measure" is the first divided by the second (our arithmetic, on the printed per-share figures, which are rounded to the cent).

Industrial, storage and cold storage

Prologis, Rexford, Public Storage, Extra Space, CubeSmart and Americold report different measures (Core FFO for four, FFO as adjusted for CubeSmart, Adjusted FFO for Americold), so the 65.6% to 84.1% range is a range of definitions as much as of payouts. Prologis reported Q3 2026 Core FFO of $1.60 per diluted share on October 15, 2026 (Form 8-K, accession 0001193125-26-422375), against $1.63 in Q2; its Q3 Form 10-Q is not filed, so its row stays on Q2.

Our pages for these REITs: Americold Realty, CubeSmart, Extra Space Storage, Prologis, Public Storage, Rexford Industrial.

Net lease, gaming and experiential

Seven REITs that mostly lease property to operators or tenants under long leases. Realty Income pays monthly, so its $0.8115 is the three monthly amounts paid in the quarter. Five report AFFO (Realty Income, NNN REIT, W. P. Carey, VICI, Gaming and Leisure), Agree reports Core FFO and EPR reports FFO as adjusted.

Our pages for these REITs: Agree Realty, EPR Properties, Gaming and Leisure Properties, NNN REIT, Realty Income, VICI Properties, W. P. Carey.

Shopping centers and malls

Five retail REITs between 48.6% and 68.4%. Simon and Macerich are shown on dividends paid in the quarter; Kimco and Federal Realty raised their dividend after quarter end, which is why their Q2 amounts are below their current ones (see the timing table).

Our pages for these REITs: Acadia Realty Trust, Federal Realty Investment Trust, Kimco Realty, Macerich, Simon Property Group.

Residential

Seven residential REITs from 58.8% to 73.6%. UDR started paying monthly in July 2026; its $0.435 is the Q2 total. Equity Residential is shown under its new name and ticker, Vivmark Residential (VMRK), after its August 17, 2026 merger with AvalonBay.

Our pages for these REITs: American Homes 4 Rent, Camden Property Trust, Invitation Homes, Mid-America Apartment Communities, Sun Communities, UDR, Vivmark Residential.

Office

The three office REITs here report plain FFO and sit at the bottom of the range, 39.3% to 51.4%. Plain FFO does not subtract tenant improvements and leasing commissions, which can be large for office owners, so a low ratio on FFO is not the same as a low ratio on cash. Our office REIT dividends page goes into the cash side. Vornado is left out of the table (its 10-Q expects one common dividend, in December; see below).

Our pages for these REITs: BXP, Douglas Emmett, SL Green Realty.

Healthcare and life science

Seven REITs from 41.6% (Alexandria, on FFO as adjusted) to 80.7% (Omega, on AFFO). Welltower's Q2 amount in the table is the $0.74 declared and paid in the quarter; its board declared $0.85 on July 27, 2026 for the quarter ended June 30.

Our pages for these REITs: Alexandria Real Estate Equities, Healthpeak Properties, National Health Investors, Omega Healthcare Investors, Sabra Health Care REIT, Ventas, Welltower.

Lodging and advertising

Host Hotels' $0.92 includes a $0.72 special dividend from the sale gain on the Four Seasons hotels; on the $0.20 regular dividend alone the ratio is 31.7% (our arithmetic). Ryman and Lamar are on Adjusted FFO and AFFO.

Our pages for these REITs: Host Hotels and Resorts, Lamar Advertising, Ryman Hospitality Properties.

Digital infrastructure and records

Five REITs from 43.8% (Equinix) to 94.1% (Crown Castle). Digital Realty's Core FFO includes net promote income; without it Core FFO is $2.13 and the ratio 57.3% (our arithmetic).

Our pages for these REITs: American Tower, Crown Castle, Digital Realty, Equinix, Iron Mountain.

Farmland

The two farmland REITs have the smallest per-share figures in the list, and neither covers its dividend on AFFO: Farmland Partners reports AFFO of $0.04 a share against a $0.09 dividend, and Gladstone Land reports AFFO of -$0.037 against $0.14 declared. Per-share figures this small are printed to the cent, so the ratio moves a lot with rounding.

Our pages for these REITs: Farmland Partners, Gladstone Land.

The payout bands

Counting the 44 REITs with a positive measure, by dividend as a share of the measure (our arithmetic):

Across the 44 REITs with a positive measure the median payout was 66.5%. A REIT near the middle is not safer or riskier than one at the edge: the ratio depends on which measure the company chose to lead with, on how much it spends on upkeep and leasing that the measure ignores, and on whether the quarter had one-off items.

The measure sets the ratio

The 45 companies use fourteen different labels for their per-share measure. Grouped into four families (our grouping), the medians differ by 21 points between the lowest and the highest, which is mostly a difference of definition:

All five REITs that lead with plain FFO are office or shopping-center owners, where recurring leasing costs are large and are not deducted from FFO. AFFO-type measures subtract those costs, so the dividend takes a larger share of them. That is why this page compares each REIT with its own number and never with another REIT's.

Where the dividend and the measure do not line up

Nine rows need a second look. The table uses the Q2 amount in the 10-Q; here is what else the filings say.

Equity REITs we cover that are not in the table

What a reader can do with this

This page is analysis of public documents, not investment, legal or tax advice. What the filings let you check yourself:

• Compare a REIT with its own past, on the same measure. Open the company page linked in the tables and read its payout quarter by quarter. A ratio that climbs for several quarters while FFO per share is flat is information; a ratio that is higher than another REIT's is not.
• Read the name of the measure before the number. Plain FFO, Core FFO and AFFO are different quantities, and the medians above differ by 21 points between families.
• Check the date of the dividend. Raises are often declared after the quarter closes (Kimco, Federal Realty, Welltower), so the current dividend can be higher than the Q2 amount in the table.
• Open the accession. Every row gives the Form 8-K and Form 10-Q numbers; the measure is in the release and the dividend in the 10-Q.
• If you hold the REITs through a fund, see what the fund holds on our REIT ETF holdings page; to weigh listed REITs against non-traded vehicles see non-traded REIT vs publicly traded REIT and the NAV REIT comparison.
• Mind the tax character. Part of a REIT dividend can be return of capital; see REIT distributions, return of capital and tax.

If a large part of your income comes from REIT dividends, or you are choosing between listed REITs and private real estate vehicles for the same money, a conversation with a qualified adviser about how it fits with the rest of your holdings may be worth having.

How we built the numbers

1. Universe. 45 listed equity REITs from those CrowdfundedWealth covers, chosen because both numbers could be tied to a filing. Mortgage REITs, BDCs and non-traded vehicles are excluded; three equity REITs are left out for the reasons above.
2. The measure. From the earnings release or supplemental attached to the company's Form 8-K for Q2 2026 (Item 2.02), the per-share figure the company leads with, as printed. Where the company reports several (Nareit FFO, Core FFO, AFFO) we chose the one in its headline; the others are on its company page and in the CSV where we needed them.
3. The dividend. The common dividend per share for the quarter from the Form 10-Q: the XBRL value of CommonStockDividendsPerShareDeclared (or CommonStockDividendsPerShareCashPaid where the company tags that) for April 1 to June 30, 2026 for 32 companies, and the statement of equity, the release or the dividend table in the filing for the other 13.
4. The ratio is our arithmetic: the dividend divided by the printed measure. Medians and bands are over the 44 REITs with a positive measure.
5. The check. Every filed figure on the page was found in the text of the saved filing (verify.jsonl, 116 lines). Filing status was read from the EDGAR submissions API on October 19, 2026.

FAQ

Sources: for each of the 45 REITs, the Form 8-K earnings release or supplemental for the quarter ended June 30, 2026 (accession numbers in the tables, filed July 16 to August 11, 2026) and the Form 10-Q for the same quarter (filed July 28 to August 11, 2026); the SEC's XBRL company facts (data.sec.gov) for the dividend per share tags; the SEC's EDGAR submissions record for each company, read on October 19, 2026; and for the three REITs left out, the Form 8-K and Form 10-Q accessions shown with them. This is analysis of public documents, not investment, legal or tax advice.