Short answer: As of the November 9, 2026 close, the widest yield spreads over the 10-year Treasury belong to Arbor Realty Trust (ABR, +37.62 pts), Invesco Mortgage Capital (IVR, +21.54 pts) and Chimera Investment (CIM, +19.85 pts).
Data as of the November 9, 2026 close. Every figure on this page is checked against at least two independent sources, or two separate SEC filings, before it is published. How we verify data.
69 of the 132 listed REITs with a verified dividend yield more than the 10-year Treasury, which closed at 4.88% on November 9, 2026. 41 of them are equity REITs that own property; 28 are mortgage REITs, whose yields come from leveraged lending rather than rent.
When a REIT yields less than Treasuries, its investors are accepting less current income than a government bond pays in exchange for dividend growth and property value. The spread column shows how much more each REIT pays than the 10-year. A wide spread can reflect real value or real risk, which is why the grade sits next to it.
| # | REIT | Ticker | Sector | Dividend yield | Spread over 10-year | Annual dividend | Grade |
|---|---|---|---|---|---|---|---|
| 1 | Arbor Realty Trust | ABR | Mortgage | 42.50% | +37.62 pts | $0.68 | D 42 |
| 2 | Invesco Mortgage Capital | IVR | Mortgage | 26.42% | +21.54 pts | $1.44 | D 44 |
| 3 | Chimera Investment | CIM | Mortgage | 24.73% | +19.85 pts | $1.80 | C 55 |
| 4 | Orchid Island Capital | ORC | Mortgage | 23.95% | +19.07 pts | $1.20 | D 35 |
| 5 | Redwood Trust | RWT | Mortgage | 23.23% | +18.35 pts | $0.72 | C 58 |
| 6 | MFA Financial | MFA | Mortgage | 22.93% | +18.05 pts | $1.44 | C 57 |
| 7 | ARMOUR Residential REIT | ARR | Mortgage | 22.55% | +17.67 pts | $2.88 | D 45 |
| 8 | Chicago Atlantic Real Estate Finance | REFI | Mortgage | 21.22% | +16.34 pts | $1.88 | C 63 |
| 9 | Adamas Trust | ADAM | Mortgage | 21.09% | +16.21 pts | $1.20 | D 47 |
| 10 | AG Mortgage Investment Trust | MITT | Mortgage | 21.05% | +16.17 pts | $0.96 | D 54 |
| 11 | Angel Oak Mortgage REIT | AOMR | Mortgage | 20.51% | +15.63 pts | $1.28 | D 52 |
| 12 | PennyMac Mortgage Investment Trust | PMT | Mortgage | 20.00% | +15.12 pts | $1.60 | C 55 |
| 13 | Medical Properties Trust | MPT | Healthcare | 19.78% | +14.90 pts | $0.36 | D 47 |
| 14 | BrightSpire Capital | BRSP | Mortgage | 18.99% | +14.11 pts | $0.64 | D 51 |
| 15 | Dynex Capital | DX | Mortgage | 18.87% | +13.99 pts | $2.04 | C 63 |
| 16 | Blackstone Mortgage Trust | BXMT | Mortgage | 16.82% | +11.94 pts | $1.88 | D 54 |
| 17 | Seven Hills Realty Trust | SEVN | Mortgage | 16.72% | +11.84 pts | $1.12 | C 56 |
| 18 | Ares Commercial Real Estate | ACRE | Mortgage | 16.30% | +11.42 pts | $0.60 | D 43 |
| 19 | AGNC Investment | AGNC | Mortgage | 16.13% | +11.25 pts | $1.44 | C 61 |
| 20 | Starwood Property Trust | STWD | Mortgage | 15.93% | +11.05 pts | $1.92 | C 67 |
| 21 | Annaly Capital Management | NLY | Mortgage | 15.83% | +10.95 pts | $3.00 | C 64 |
| 22 | NexPoint Real Estate Finance | NREF | Mortgage | 14.79% | +9.91 pts | $2.00 | D 53 |
| 23 | TPG RE Finance Trust | TRTX | Mortgage | 14.24% | +9.36 pts | $0.96 | D 49 |
| 24 | Ellington Financial | EFC | Mortgage | 13.68% | +8.80 pts | $1.56 | C 63 |
| 25 | Innovative Industrial Properties | IIPR | Industrial | 13.68% | +8.80 pts | $7.60 | C 60 |
| 26 | NexPoint Residential Trust | NXRT | Residential | 13.46% | +8.58 pts | $2.12 | C 60 |
| 27 | Granite Point Mortgage Trust | GPMT | Mortgage | 13.33% | +8.45 pts | $0.40 | D 36 |
| 28 | Franklin BSP Realty Trust | FBRT | Mortgage | 12.50% | +7.62 pts | $0.80 | D 48 |
| 29 | Global Net Lease | GNL | Net Lease | 11.06% | +6.18 pts | $0.76 | D 51 |
| 30 | Rithm Capital | RITM | Mortgage | 10.59% | +5.71 pts | $1.00 | C 68 |
| 31 | Brandywine Realty Trust | BDN | Office | 9.85% | +4.97 pts | $0.32 | C 55 |
| 32 | Community Healthcare Trust | CHCT | Healthcare | 8.89% | +4.01 pts | $1.32 | D 50 |
| 33 | AH Realty Trust | AHRT | Retail | 8.67% | +3.79 pts | $0.56 | D 52 |
| 34 | One Liberty Properties | OLP | Net Lease | 8.43% | +3.55 pts | $1.80 | C 60 |
| 35 | Gaming and Leisure Properties | GLPI | Gaming | 8.32% | +3.44 pts | $3.28 | B 76 |
| 36 | Saul Centers | BFS | Retail | 8.19% | +3.31 pts | $2.36 | C 63 |
| 37 | Easterly Government Properties | DEA | Office | 7.92% | +3.04 pts | $1.80 | C 55 |
| 38 | BRT Apartments | BRT | Residential | 7.74% | +2.86 pts | $1.00 | D 54 |
| 39 | Alpine Income Property Trust | PINE | Net Lease | 7.63% | +2.75 pts | $1.28 | C 61 |
| 40 | CTO Realty Growth | CTO | Retail | 7.46% | +2.58 pts | $1.52 | C 58 |
| 41 | Douglas Emmett | DEI | Office | 7.32% | +2.44 pts | $0.76 | C 57 |
| 42 | VICI Properties | VICI | Gaming | 7.31% | +2.43 pts | $1.84 | B 82 |
| 43 | Alexanders | ALX | Retail | 7.15% | +2.27 pts | $18.00 | C 58 |
| 44 | KKR Real Estate Finance Trust | KREF | Mortgage | 7.02% | +2.14 pts | $0.40 | D 42 |
| 45 | Industrial Logistics Properties Trust | ILPT | Industrial | 6.80% | +1.92 pts | $0.40 | D 44 |
| 46 | Getty Realty | GTY | Net Lease | 6.73% | +1.85 pts | $1.94 | B 73 |
| 47 | Broadstone Net Lease | BNL | Net Lease | 6.57% | +1.69 pts | $1.17 | B 72 |
| 48 | Safehold | SAFE | Specialty | 6.56% | +1.68 pts | $0.71 | C 62 |
| 49 | Highwoods Properties | HIW | Office | 6.36% | +1.48 pts | $2.00 | C 66 |
| 50 | Alexandria Real Estate Equities | ARE | Office | 6.28% | +1.40 pts | $2.88 | C 58 |
| 51 | American Assets Trust | AAT | Office | 6.27% | +1.39 pts | $1.36 | C 62 |
| 52 | EPR Properties | EPR | Net Lease | 6.08% | +1.20 pts | $3.72 | C 68 |
| 53 | Park Hotels & Resorts | PK | Hotels | 6.08% | +1.20 pts | $1.00 | C 60 |
| 54 | Global Self Storage | SELF | Self-Storage | 6.06% | +1.18 pts | $0.29† | D 52 |
| 55 | NNN REIT | NNN | Net Lease | 5.95% | +1.07 pts | $2.48 | B 79 |
| 56 | Healthpeak Properties | DOC | Healthcare | 5.94% | +1.06 pts | $1.22† | B 72 |
| 57 | Kilroy Realty | KRC | Office | 5.85% | +0.97 pts | $2.16 | C 65 |
| 58 | Advanced Flower Capital | AFCG | Mortgage | 5.81% | +0.93 pts | $0.20 | D 32 |
| 59 | W. P. Carey | WPC | Net Lease | 5.77% | +0.89 pts | $3.80 | B 76 |
| 60 | Americold Realty Trust | COLD | Industrial | 5.73% | +0.85 pts | $0.92 | C 60 |
| 61 | JBG SMITH Properties | JBGS | Office | 5.65% | +0.77 pts | $0.70 | D 53 |
| 62 | Sabra Health Care REIT | SBRA | Healthcare | 5.59% | +0.71 pts | $1.20 | B 73 |
| 63 | Omega Healthcare Investors | OHI | Healthcare | 5.57% | +0.69 pts | $2.72 | B 74 |
| 64 | Realty Income | O | Net Lease | 5.49% | +0.61 pts | $3.26† | A 87 |
| 65 | Centerspace | CSR | Residential | 5.36% | +0.48 pts | $3.08 | C 62 |
| 66 | National Health Investors | NHI | Healthcare | 5.28% | +0.40 pts | $3.76 | B 74 |
| 67 | CBL Properties | CBL | Retail | 5.21% | +0.33 pts | $2.50 | D 45 |
| 68 | LTC Properties | LTC | Healthcare | 5.07% | +0.19 pts | $2.28 | C 66 |
| 69 | Healthcare Realty Trust | HR | Healthcare | 4.96% | +0.08 pts | $0.96 | C 60 |
† The current dividend rate is above the per-share dividend in the latest 10-Q, consistent with a recent increase. The prior rate is confirmed by the filing; the new rate comes from payment records and is confirmed when the next 10-Q is filed.
How This List Is Built
Dividend yield is the indicated annual dividend (the latest regular payment times the number of payments per year) divided by the closing price. The closing price must match between Nasdaq and Cboe, and the dividend rate must match the per-share dividend in the company’s latest 10-Q filed with the SEC. The Treasury yield is the official daily par yield published by the U.S. Treasury. Special dividends are excluded.
Frequently Asked Questions
How many REITs yield more than the 10-year Treasury?
69 of 132 listed REITs with a verified dividend, as of November 9, 2026. 41 are equity REITs and 28 are mortgage REITs. The 10-year Treasury yielded 4.88% that day, and the median REIT yielded 5.25%.
Which equity REIT pays the most over Treasuries?
Medical Properties Trust (MPT) yields 19.78%, which is 14.90 percentage points above the 10-year Treasury. It carries a REIT Rankings grade of D. A high spread is a reason to look harder at dividend safety, not proof of value.
Why do most REITs yield less than Treasuries right now?
Treasury yields rose faster than REIT dividends. The 10-year yield was 5.00% on September 15, 2026, the day before the Federal Reserve raised rates, and 4.88% on November 9, 2026. REIT dividends grow with rents over years, so when bond yields jump, most REIT yields end up below them until prices adjust or dividends catch up.
Is a REIT that yields more than Treasuries a better investment?
Not by itself. A Treasury pays a fixed coupon with no credit risk, while a REIT dividend can grow or be cut. Many of the highest REIT yields belong to companies the market expects to cut. Compare the spread with the grade, the payout record on our REIT dividend safety page and the balance sheet before drawing conclusions.
How is the dividend yield on this page calculated?
Indicated annual dividend divided by the verified closing price. The indicated dividend is the latest regular payment multiplied by the payment frequency, checked against the dividend per share reported in the most recent 10-Q. Special and one-time dividends are excluded.
Related Pages
Highest-yielding REITs · REITs and interest rates · REIT dividend safety 2026 · Monthly dividend REITs
REIT Rankings publishes data and grades, not investment advice. Nothing on this page is a recommendation to buy, sell or hold any security. Do your own research or consult a licensed advisor.