26 US REITs hike dividend payments in February

This Data Dispatch is updated monthly. The analysis includes publicly traded real estate investment trusts covered by S&P Global Market Intelligence that are based in the US or Canada and trade on the NYSE, Nasdaq, NYSE American, Toronto Stock Exchange or TSX Venture Exchange.

Twenty-six publicly traded real estate investment trusts in the US declared increases to their regular dividends in February, according to S&P Global Market Intelligence data.

Hotel REIT DiamondRock Hospitality Co. announced the largest dividend increase in February, raising its quarterly cash payout by 166.7% to 8 US cents per share, payable to shareholders April 11. The new dividend is 36% lower than its pre-pandemic level in 2019.

First Industrial Realty Trust Inc. announced the second-largest dividend increase during the month. The industrial REIT raised its quarterly dividend by 20.3% to 44.5 US cents per share, payable to shareholders April 21.

Xenia Hotels & Resorts Inc. increased its quarterly dividend by 16.7% to 14 US cents per share, payable to shareholders April 15.

Canada-based REIT dividend hikes in February

Two Canada-based REITs announced dividend increases in February.

Shopping center-focused RioCan REIT raised its monthly dividend by 4.3% to 9.65 Canadian cents per share, payable to shareholders March 7. The new dividend is 19.6% lower than its pre-pandemic level.

Multifamily REIT Canadian Apartment Properties REIT declared a 3.4% increase in its monthly cash payout to 12.92 Canadian cents per share, payable to shareholders March 17.

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More than 33% of US specialty, industrial REITs increase dividends

The surge in dividend hikes in February raised the number of US REITs that increased dividends in the first two months of 2025 to 29, accounting for 18.6% of all REITs, according to Market Intelligence data.

Six specialty REITs — representing a third of the sector — declared higher dividends in January and February.

More than 33% of all industrial REITs also declared higher cash payout in the year through Feb. 28.