Real estate investment trusts (REITs) must distribute 90% of their taxable income to investors each year. As a result, they tend to pay out a substantial amount of money in dividends.
S&P Global Market Intelligence predicts that U.S. REITs will pay a total of $61.5 billion in dividends in 2026, a 4.9% increase from last year. Here's a look at the five REITs it predicts will be the largest dividend payers this year.
Image source: Getty Images.
Prologis
Prologis (PLD 1.49%) is one of the largest REITs by market cap (around $120 billion). It entered 2026 with a 3.1% dividend yield.
S&P Global expects the leading industrial REIT will pay $4.3 billion in dividends in 2026, leading the industry. Prologis paid out around $3.9 billion in dividends last year. S&P Global's prediction for Prologis' dividend payment implies that the REIT will increase its total outlay by around 10% in 2026, up from the 5% raise it delivered last year. It has an excellent record of increasing its dividend. Prologis has grown its payout at a 13% compound annual rate over the past five years, well above the REIT sector's average (6%) and the S&P 500's dividend growth rate (5%).
NYSE: PLD
Key Data Points
American Tower
American Tower (AMT +0.08%) is the leading telecommunications infrastructure REIT. The cell tower and data center operator had a 3.9% dividend yield at the start of 2026.
S&P Global predicts that American Tower will pay $3.4 billion of dividends in 2026. The tower REIT currently pays $1.70 per share in dividends, which is around $800 million per quarter or $3.2 billion annually. This prediction implies that American Tower could increase its dividend per share at about a mid-single-digit rate, which aligns with the REIT's long-term target.
America Tower's dividend has been a bit of a moving target in recent years. After rapidly rising from 2014 through the end of 2023, American Tower's dividend went down in 2024 before returning to its prior peak throughout 2025. The REIT has been more conservative with its dividend payments to retain additional cash for debt reduction. However, with its balance sheet back on a firmer foundation, the dividend could head higher in 2026.
Realty Income
Realty Income (O 1.36%) is the sixth-largest global REIT, with properties in nine countries. The net lease REIT pays a monthly dividend that currently yields 5.7%.
NYSE: O
Key Data Points
S&P Global predicts that the global net lease REIT will pay $3 billion in dividends this year. It was on pace to pay over $2.9 billion in dividends last year, implying a modest low-single-digit growth rate.
Realty Income has a terrific track record of increasing its dividend payment. It has raised its dividend 133 times since its public market listing in 1994, including the past 113 quarters in a row. Realty Income has grown its dividend at a 4.2% compound annual rate during that period. It was on track to invest $6 billion into new income-generation properties last year, which should help support a growing dividend in 2026.
Simon Property Trust
Simon Property Trust (SPG 1.37%) is a leading retail REIT focused on owning malls and outlet centers. It had a 4.8% dividend yield in early 2026.
S&P Global predicts that Simon Property will pay $2.8 billion of dividends in 2026. That's around the same rate the mall REIT paid in 2025. However, the company raised its dividend payment three times last year by 5%, 4.9%, and 4.8%. Simon Property has been steadily boosting its payout in recent years. It slashed the dividend in 2020 to conserve cash during the pandemic, but it has now raised its rate above its pre-pandemic level.
This prediction seems a bit conservative. The REIT expected to generate between $12.60 and $12.70 of real estate FFO per share last year, well below its current annualized dividend level of $8.80 per share. That gives Simon Property room to continue increasing its dividend in 2026.
NYSE: SPG
Key Data Points
Public Storage
Public Storage (PSA 3.48%) is the world's largest self-storage REIT. Its dividend currently yields around 4.6%.
S&P Global expects the self-storage operator to pay $2.1 billion in dividends this year. That's about what Public Storage paid in dividends last year. While the REIT has grown its dividend at an 8.2% compound annual rate over the last 20 years, its growth has been a bit more sporadic in recent years. Public Storage paid the same quarterly rate of $2.00 per share from 2017 through 2021 before giving investors a monster 50% raise to $3.00 per share in 2022. However, it has maintained its rate since that time.
Public Storage certainly could afford to increase its dividend this year. Its core FFO is growing (up nearly 3% in the third quarter), and it has a conservative dividend payout ratio of less than 75% of its funds available for distribution.
These top dividend-paying REITs should pay even more in 2026
These REITs have massive real estate portfolios that produce significant and growing cash flow, enabling them to support their large dividend payments. Each one has the capacity to pay out even more money in dividends this year. Their combination of scale and financial strength makes them ideal REITs to buy for those seeking a sustainable passive income stream.
