Canadian REIT public ranking
Highest Distribution Yield Canadian REITs
As of August 25, 2026, Highest Distribution Yield Canadian REITs is led by Allied Properties REIT (AP.UN), BTB REIT (BTB.UN), Firm Capital Property Trust (FCD.UN). The top row is Allied Properties REIT (AP.UN) at 12.72%, based on REIT Stack's publicly visible metrics and the ranking rule below.
Methodology
Sorted by trailing distribution yield in descending order. Rows with null, zero, negative, or invalid distribution yields are excluded.
Distribution yield is not total return. A high distribution yield may reflect elevated business, payout, leverage, or market-price risk, so this is a data ranking and not a recommendation.
AFFO payout ratio, FFO payout ratio, and the rules-based distribution-safety label are included as payout context from the same publicly visible metrics.
Data, not investment advice. See the methodology and disclaimer.
Ranking Metrics
Excludes REITs without a positive trailing distribution yield.
| Rank | Ticker | Name | Distribution Yield | AFFO Payout Ratio | FFO Payout Ratio | Distribution Safety | Price / Reported NAV | As of | Facts |
|---|---|---|---|---|---|---|---|---|---|
| 1 | AP.UN | Allied Properties REIT | 12.72% Market snapshot as of August 25, 2026 | 99.6% | 72.2% | Elevated risk | 0.31x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 2 | BTB.UN | BTB REIT | 7.77% Market snapshot as of August 25, 2026 | 82.4% | 77.7% | Covered | - Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 3 | FCD.UN | Firm Capital Property Trust | 7.33% Market snapshot as of August 25, 2026 | 100.0% | 102.0% | Watch | 0.88x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 4 | NRR.UN | Northview Residential REIT | 6.71% FY-close fallback as of December 31, 2025 | 77.8% | 61.6% | Covered | 0.63x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 5 | PRV.UN | PRO REIT | 6.70% Market snapshot as of August 25, 2026 | 97.8% | - | Watch | 0.88x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 6 | APR.UN | Automotive Properties REIT | 6.69% Market snapshot as of August 25, 2026 | 78.6% | 76.5% | Covered | 0.91x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 7 | SRU.UN | SmartCentres REIT | 6.67% Market snapshot as of August 25, 2026 | 86.4% | - | Covered | 0.78x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 8 | VITL.UN | Vital Infrastructure Property Trust | 6.62% Market snapshot as of August 25, 2026 | 86.0% | 85.0% | Covered | 0.72x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 9 | HR.UN | H&R REIT | 5.91% Market snapshot as of August 25, 2026 | 60.5% | 57.8% | Covered | 0.64x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 10 | REI.UN | RioCan REIT | 5.49% Market snapshot as of August 25, 2026 | 76.4% | 64.9% | Covered | 0.88x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 11 | CRR.UN | Crombie REIT | 5.46% Market snapshot as of August 25, 2026 | 77.6% | 68.4% | Covered | 1.68x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 12 | D.UN | Dream Office REIT | 5.43% Market snapshot as of August 25, 2026 | - | - | Covered | 0.37x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 13 | SGR.UN | Slate Grocery REIT | 5.37% Market snapshot as of August 25, 2026 | 111.9% | 86.2% | Elevated risk | 1.19x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 14 | CRT.UN | CT REIT | 5.34% Market snapshot as of August 25, 2026 | 72.5% | - | Covered | 0.97x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 15 | PLZ.UN | Plaza Retail REIT | 5.30% Market snapshot as of August 25, 2026 | 94.3% | 71.6% | Covered | 1.04x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 16 | NET.UN | Canadian Net REIT | 5.09% Market snapshot as of August 25, 2026 | 54.0% | 53.0% | Covered | - Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 17 | DIR.UN | Dream Industrial REIT | 5.04% Market snapshot as of August 25, 2026 | - | 64.9% | Covered | 0.84x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 18 | CHP.UN | Choice Properties REIT | 5.03% Market snapshot as of August 25, 2026 | 83.7% | 72.3% | Covered | 1.08x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 19 | MRG.UN | Morguard North American Residential REIT | 4.84% Market snapshot as of August 25, 2026 | - | 48.0% | Covered | - Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 20 | CAR.UN | Canadian Apartment Properties REIT | 4.54% Market snapshot as of August 25, 2026 | 75.4% | 65.1% | Covered | 0.61x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 21 | PMZ.UN | Primaris REIT | 4.04% Market snapshot as of August 25, 2026 | 62.1% | 51.8% | Covered | 1.03x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 22 | NXR.UN | Nexus Industrial REIT | 4.00% Market snapshot as of August 25, 2026 | 102.4% | - | Elevated risk | 0.60x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 23 | FCR.UN | First Capital REIT | 3.97% Market snapshot as of August 25, 2026 | 79.3% | 66.0% | Covered | 1.01x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 24 | GRT.UN | Granite REIT | 3.92% Market snapshot as of August 25, 2026 | 66.0% | 56.0% | Covered | - Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 25 | KMP.UN | Killam Apartment REIT | 3.86% Market snapshot as of August 25, 2026 | 76.0% | 64.0% | Covered | 0.76x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 26 | HOM.UN | BSR REIT | 3.57% Market snapshot as of August 25, 2026 | 82.8% | - | Covered | 0.96x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 27 | MRT.UN | Morguard REIT | 3.42% Market snapshot as of August 25, 2026 | - | 38.7% | Elevated risk | 0.71x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 28 | CSH.UN | Chartwell Retirement Residences | 2.96% Market snapshot as of August 25, 2026 | - | 57.4% | Covered | - Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 29 | MI.UN | Minto Apartment REIT | 2.93% Market snapshot as of August 14, 2026 | 75.2% | - | Covered | 0.97x Reported NAV as of December 31, 2025 | August 14, 2026 | Fact sheet |
| 30 | BEI.UN | Boardwalk REIT | 2.59% Market snapshot as of August 25, 2026 | 42.4% | 36.4% | Covered | 0.68x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |
| 31 | MHC.UN | Flagship Communities REIT | 2.11% Market snapshot as of August 25, 2026 | 47.3% | - | Covered | 0.96x Reported NAV as of December 31, 2025 | August 25, 2026 | Fact sheet |