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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 3%, making them ideal choices for investors who want passive income from real estate.

Equity Lifestyle Properties (ELS)

Equity LifeStyle Properties, Inc is a real estate investment trust which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home and recreational vehicle communities. It operates through the following segments: Property Operations; and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease properties. The Home Sales and Rentals Operations segment purchases, sells, and leases homes at the properties.

Equity LifeStyle Properties owns or has a controlling interest in more than 452 communities and resorts in 35 states and British Columbia, with more than 173,201 sites.

On July 21st, 2025, Equity LifeStyle Properties reported second-quarter. The company reported Q2 2025 revenue of $376.9 million, down 0.8% from $380.0 million in Q2 2024, with net income per common share steady at $0.42.

Normalized Funds from Operations (FFO) per share rose 4.7% to $0.69, and FFO per share was also $0.69, both meeting guidance midpoints. Core property operating revenues grew 3.5%, with manufactured home (MH) base rental income up 5.5% and RV/marina annual base rental income up 3.7%. Core property operating expenses were flat, boosting core income from property operations (excluding property management) by 6.4%.

ELS has increased its dividend for 21 consecutive years and currently yields 3.5%.

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%.

Camden Property Trust (CPT)

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust is one of the largest publicly traded multifamily real estate companies in the U.S.

The REIT owns, manages and develops multifamily apartment communities. It currently owns 172 properties that contain over 58,000 apartments.

On July 31st, 2025, Camden Property reported its Q2 results. For the quarter, the company reported property revenue of $396.5 million, up slightly from $387.2 million in Q2 2024.

While same-property revenues rose 1.0%, same-store occupancy increased 30 basis points to 95.6%. Same-property expenses grew by 2.4% during the period, while same-property net operating income (NOI) grew 0.2%.

Funds from Operations (FFO) totaled $184.2 million, or $1.67 per share, compared to $187.7 million, or $1.71 per share, in Q2 2024.

Camden has a competitive advantage in its position as one of the largest multifamily REITs in the U.S. Its scale and expertise allow it to leverage its experience across a wide portfolio of properties and actively pursue developments.

The company’s FFO payout ratio has hovered in the 60% to 70% range for the last decade. CPT has increased its dividend for 14 consecutive years and currently yields 4.0%.

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