Canadian REIT public ranking
Highest Distribution Yield Canadian REITs
As of October 28, 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 20.93%, 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 | 20.93% Market snapshot as of October 28, 2026 | 99.6% | 72.2% | Elevated risk | 0.18x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 2 | BTB.UN | BTB REIT | 8.11% Market snapshot as of October 28, 2026 | 82.4% | 77.7% | Covered | - Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 3 | FCD.UN | Firm Capital Property Trust | 7.44% Market snapshot as of October 28, 2026 | 100.0% | 102.0% | Watch | 0.88x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 4 | VITL.UN | Vital Infrastructure Property Trust | 7.42% Market snapshot as of October 28, 2026 | 86.0% | 85.0% | Covered | 0.63x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 5 | SRU.UN | SmartCentres REIT | 6.82% Market snapshot as of October 28, 2026 | 86.5% | - | Covered | 0.75x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 6 | APR.UN | Automotive Properties REIT | 6.75% Market snapshot as of October 28, 2026 | 78.3% | 76.4% | Covered | 0.92x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 7 | NRR.UN | Northview Residential REIT | 6.71% FY-close fallback as of December 31, 2025 | 73.3% | 58.8% | Covered | 0.54x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 8 | PRV.UN | PRO REIT | 6.60% Market snapshot as of October 28, 2026 | 97.8% | - | Watch | 0.87x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 9 | D.UN | Dream Office REIT | 6.26% Market snapshot as of October 28, 2026 | - | - | Covered | 0.32x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 10 | HR.UN | H&R REIT | 6.15% Market snapshot as of October 28, 2026 | 60.5% | 57.8% | Covered | 0.60x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 11 | NET.UN | Canadian Net REIT | 5.88% Market snapshot as of October 28, 2026 | 54.0% | 53.0% | Covered | - Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 12 | CRR.UN | Crombie REIT | 5.60% Market snapshot as of October 28, 2026 | 77.2% | 68.3% | Covered | 1.61x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 13 | CRT.UN | CT REIT | 5.48% Market snapshot as of October 28, 2026 | 72.5% | 67.0% | Covered | 0.94x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 14 | DIR.UN | Dream Industrial REIT | 5.44% Market snapshot as of October 28, 2026 | - | 64.9% | Covered | 0.77x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 15 | REI.UN | RioCan REIT | 5.44% Market snapshot as of October 28, 2026 | 80.6% | 67.7% | Covered | 0.87x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 16 | PLZ.UN | Plaza Retail REIT | 5.39% Market snapshot as of October 28, 2026 | 92.2% | 69.2% | Covered | 1.02x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 17 | MRG.UN | Morguard North American Residential REIT | 5.37% Market snapshot as of October 28, 2026 | - | 47.4% | Covered | - Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 18 | CHP.UN | Choice Properties REIT | 5.19% Market snapshot as of October 28, 2026 | 83.7% | 72.3% | Covered | 1.03x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 19 | CAR.UN | Canadian Apartment Properties REIT | 4.93% Market snapshot as of October 28, 2026 | 70.3% | 62.0% | Covered | 0.55x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 20 | SGR.UN | Slate Grocery REIT | 4.93% Market snapshot as of October 28, 2026 | 112.5% | 86.9% | Elevated risk | 1.28x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 21 | NXR.UN | Nexus Industrial REIT | 4.41% Market snapshot as of October 28, 2026 | 102.4% | - | Elevated risk | 0.54x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 22 | KMP.UN | Killam Apartment REIT | 4.15% Market snapshot as of October 28, 2026 | 71.0% | 60.0% | Covered | 0.68x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 23 | GRT.UN | Granite REIT | 4.13% Market snapshot as of October 28, 2026 | 66.0% | 56.0% | Covered | - Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 24 | FCR.UN | First Capital REIT | 3.92% Market snapshot as of October 28, 2026 | 97.9% | 73.5% | Watch | 1.01x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 25 | PMZ.UN | Primaris REIT | 3.92% Market snapshot as of October 28, 2026 | 65.9% | 50.2% | Covered | 1.04x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 26 | HOM.UN | BSR REIT | 3.71% Market snapshot as of October 21, 2026 | 87.0% | - | Covered | 0.93x Reported NAV as of December 31, 2025 | October 21, 2026 | Fact sheet |
| 27 | MRT.UN | Morguard REIT | 3.47% Market snapshot as of October 28, 2026 | - | 38.7% | Elevated risk | 0.70x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 28 | CSH.UN | Chartwell Retirement Residences | 2.93% Market snapshot as of October 28, 2026 | - | 56.7% | Covered | - Reported NAV as of December 31, 2025 | October 28, 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 | 2.67% Market snapshot as of October 28, 2026 | 43.1% | 37.0% | Covered | 0.64x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |
| 31 | MHC.UN | Flagship Communities REIT | 2.15% Market snapshot as of October 28, 2026 | 45.7% | - | Covered | 0.94x Reported NAV as of December 31, 2025 | October 28, 2026 | Fact sheet |