36 US REITs expected to raise dividends in Q1 2026

Analysts forecast dividend payments based on companies' prior payment histories, news, guidance, financial metrics estimates, debt levels, capital expense and other considerations. The forecasts are paired with confidence levels that gauge the relative certainty of those predictions. For more information on S&P Global Market Intelligence's dividend forecasting product, email dividendsupport@spglobal.com.

Thirty-six publicly traded US real estate investment trusts are projected to increase dividend payouts in the first quarter, according to S&P Global Market Intelligence forecasts.

The remaining 100 public REITs included in the analysis are predicted to maintain their dividend payout over the quarter.

SL Green's dividend expected to rise the most in Q1

Market Intelligence analysts forecast that office REIT SL Green Realty Corp. could raise its cash distribution by up to 33.3% to a quarterly rate of $1.03 per share in March, the highest potential dividend hike for the first quarter.

During the office REIT's Dec. 5, 2025, investor presentation, SL Green's CFO Matthew DiLiberto said the REIT will be returning to a "more typical quarterly dividend payment" after the REIT moved to a monthly payment during the COVID-19 pandemic. In its most recent earnings release on Jan. 28, the REIT confirmed that beginning in fiscal year 2026, ordinary dividends will be declared and paid quarterly rather than monthly. The dividends will also continue to be paid in cash.

Industrial-focused First Industrial Realty Trust Inc. announced during its earnings release on Feb. 4 that the REIT will be raising its quarterly dividend rate by 12.4% to 50 cents per share for the quarter ending March 31.

"On the strength of the performance of our platform and our outlook, we increased our dividend rate by 12.4%," said First Industrial Realty Trust President and CEO Peter Baccile. "Despite a volatile leasing market in 2025 impacted by the evolving tariff policies and other uncertainties, our First Industrial team maintained its keen focus on delivering strong growth in funds from operations, cash rental rates and cash same store net operating income."

Two other REITs are projected to announce double-digit hikes in the first quarter. Dividend forecasts show an 11.8% increase for regional mall-focused Macerich Co. to 19 cents per share, and an 11.7% hike for communications REIT SBA Communications Corp. to $1.24 per share.

"We expect our dividend to grow over time, and we believe that it is financially prudent to operate our company at a slightly lower leverage to protect our dividend from potential future fluctuation in interest rates," said SBA Communications CFO Marc Montagner during the REIT's Nov. 3, 2025, earnings call.

Three REITs announced dividend hikes on Feb. 5, including healthcare REIT Ventas Inc., which declared an 8.3% hike on its quarterly cash payout to 52 cents per share.

"Ventas delivered strong performance and enterprise growth in the fourth quarter and full year 2025. We executed our strategy to drive organic and external growth in senior housing and increased our participation in this multiyear growth opportunity," said Ventas Chairman and CEO Debra Cafaro in the REIT's Feb. 5 earnings release.

Both single tenant-focused Alpine Income Property Trust Inc. and multifamily REIT Camden Property Trust also announced increases in their respective quarterly dividends on Feb. 5. Alpine announced a 5.3% increase to 30 cents per share, while Camden declared a 1% raise in dividends to $1.06 per share.

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All data center, advertising REITs predicted to increase dividends

Advertising REITs OUTFRONT Media Inc. and Lamar Advertising Co. are expected to announce dividend hikes of about 6.7% and 3.2%, respectively, within the first quarter.

Data center landlords Equinix Inc. and Digital Realty Trust Inc. are projected to increase their quarterly cash distributions by 6.6% and 4.1%, respectively.

Additionally, Curbline Properties Corp., categorized in the "other retail" bucket, is predicted to raise its quarterly cash payout by 6.3% to 17 cents per share.

Two manufactured home REITs and two communication REITs are expected to raise their dividends within the first quarter, accounting roughly 66.7% of both sectors.

Likewise, about 50% of REITs from five more sectors are also projected to announce dividend hikes within the quarter.