Real estate investment trusts – or REITs – give investors the opportunity to earn income from real estate, without any of the day-to-day hassles associated with being a traditional landlord.

REITs are popular for income investors, as they widely pay higher dividend yields than the average stock. While the S&P 500 Index on average yields just 1.3% right now, it is relatively easy to find REITs with dividend yields of 5% or higher.

Therefore, REITs are attractive for investors looking for higher levels of income. The following 3 REITs have yields above 4%, making them ideal choices for investors who want passive income from real estate.

Agree Realty (ADC)

Agree Realty is an integrated real estate investment trust (REIT) focused on ownership, acquisition, development, and retail property management. Agree has developed over 40 community shopping centers throughout the Midwestern and Southeastern United States.

On April 22nd, 2025, Agree Realty Corp. reported first quarter results for Fiscal Year (FY)2025. The company reported robust results for the quarter ending March 31, 2025, with net income attributable to common stockholders rising 5.0% to $45.1 million, though per-share net income fell 2.0% to $0.42.

Core Funds from Operations (Core FFO) per share grew 3.1% to $1.04, and Adjusted Funds from Operations (AFFO) per share increased 3.0% to $1.06.

The company invested $377 million in 69 retail net lease properties, commenced four development projects with $24 million committed, and raised its monthly dividend by 2.4% to $0.256 per share for April, reflecting payout ratios of 73% (Core FFO) and 72% (AFFO).

The portfolio included 2,422 properties, 99.2% leased, with 68.3% of rents from investment-grade tenants. Acquisitions totaled $358.9 million at a 7.3% cap rate, while ground leases and development projects added $13.5 million and $23.9 million, respectively.

For 2025, Agree Realty projects AFFO per share of $4.27-$4.30, with investment volume increased to $1.3-$1.5 billion and dispositions of $10-$50 million.

ADC has increased its dividend for 13 consecutive years and currently yields 4.2%.

Mid-America Apartment Communities (MAA)

Mid-America Apartment Communities is a REIT that owns, operates and acquires apartment communities in the Southeast, Southwest and mid-Atlantic regions of the U.S.

It currently has ownership interest in ~102,000 apartment units across 16 states and the District of Columbia. MAA is focused on the Sunbelt Region of the U.S., which has exhibited superior population growth and economic growth in the long run.

In late April, MAA reported (4/30/25) financial results for the first quarter of fiscal 2025. Same-store net operating income slipped -0.6% over the prior year’s quarter. Core funds from operations (FFO) per share dipped -1%, from $2.22 to $2.20, due to higher interest expense, but exceeded the analysts’ consensus by $0.02.

MAA has missed the analysts’ FFO estimates only twice in the last 28 quarters. MAA has decelerated in the last seven quarters due to high supply of new apartments in its markets but the volume of new apartments has begun to lose steam, with fewer new apartments expected next year.

MAA reaffirmed its guidance for core FFO per share of $8.61-$8.93. MAA has increased its dividend for 14 consecutive years and currently yields 4.4%.

CubeSmart (CUBE)

CubeSmart is a self-managed REIT focused primarily on the ownership, operation, management, acquisition, and development of self-storage properties in the United States.

It owns 606 self-storage properties, totaling about 43.8 million rentable square feet in the District of Columbia and 25 other states. Also, the company manages 869 stores for third parties. Thus, the total number of stores that it owns and/or manages comes to 1,475.

The company has nearly 380,000 customers and generated around $1 billion in revenue last year.

On July 31st, 2025, CubeSmart reported its Q2 results for the period ending June 30th, 2025. For the quarter, revenues grew by 6.1% to $282.3 million year-over-year. Higher revenues were mainly driven by previously completed property acquisitions and development openings, since same-store revenues declined.

Specifically, same-store revenues fell 0.5% due to same-store occupancy falling from 91.8% to 91.1%. Thus, same-store NOI fell by 1.1% year-over-year, with the decline compounded further due to a 1.2% increase in same-store property operating expenses.

FFO rose modestly year-over-year to $148.9 million. On a per-share basis, FFO came in at $0.65, up slightly from $0.64 last year. 

CubeSmart showcases a solid track record of growing revenues and FFO/share, with management skillfully acquiring lucrative properties and maximizing their potential profitability through operational efficiencies and low-cost financing. The company’s FFO/share has increased by 8.8% on average annually over the past decade and 8.2% over the past five years.

CUBE has increased its dividend for 15 consecutive years and currently yields 5.4%.