Canadian REITs offer one of the most accessible ways to earn passive income from real estate without buying property directly. The industry, valued at billions in assets under management according to Million Dollar Journey, spans industrial, residential, retail, and healthcare sectors — giving investors real diversification. Whether you're building long-term wealth or seeking reliable monthly distributions, pairing REITs with top investment platforms can sharpen your returns. Here are the 9 best REITs in Canada worth considering right now. Let's get started!
Quick Answer
Canada's best REITs span industrial, residential, retail, and healthcare sectors. Top options include diversified funds with strong monthly distributions and billions in assets under management. Leading picks cover multiple real estate segments, offering passive income without direct property ownership. Pairing these REITs with strong investment platforms can further optimize your returns and portfolio diversification.
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Summary Table
| Item Name | Price Range | Best For | Website |
|---|---|---|---|
| H&R REIT | ~$10–$14/unit | Diversified property exposure | Visit Site |
| RioCan Real Estate Investment Trust | ~$17–$22/unit | Retail & mixed-use income | Visit Site |
| Dream Industrial REIT | ~$13–$17/unit | Industrial & logistics growth | Visit Site |
| NorthWest Healthcare Properties | ~$5–$8/unit | Healthcare real estate income | Visit Site |
| Chartwell Retirement Residences | ~$12–$16/unit | Senior living & demographics play | Visit Site |
| Canadian Apartment REIT | ~$44–$52/unit | Residential rental stability | Visit Site |
| Morguard North American Residential | ~$14–$19/unit | Cross-border residential income | Visit Site |
| Choice Properties REIT | ~$13–$16/unit | Grocery-anchored retail stability | Visit Site |
| Nexus REIT | ~$7–$10/unit | Small-cap industrial value | Visit Site |
9 Top REITs in Canada for 2026
Below you'll find detailed information about each option, including what makes them unique and their key benefits.
1. H&R REIT
H&R REIT is one of Canada's largest diversified real estate investment trusts, making it a strong candidate for investors exploring top Canadian REITs. It holds office, retail, residential, and industrial properties across Canada and the U.S., providing broad sector exposure in a single holding. The trust has been working to reposition its portfolio toward higher-growth asset classes since 2021.
Key details:
- Diversified across office, industrial, retail, and residential segments
- Trades on the TSX under ticker HR.UN
- Undergoing active portfolio restructuring to improve long-term returns
2. RioCan Real Estate Investment Trust
RioCan is among the most recognizable names when evaluating top Canadian REITs, focusing primarily on retail-anchored properties in major urban markets like Toronto, Ottawa, and Calgary. It has pivoted toward mixed-use developments combining retail and residential units, which positions it well for urban density trends. RioCan trades on the TSX under REI.UN and has historically offered consistent distribution income.
Key details:
- Portfolio concentrated in Canada's six largest markets
- Mixed-use "RioCan Living" residential development pipeline expanding
- Monthly distributions paid to unitholders
3. Dream Industrial REIT
Dream Industrial REIT is one of the strongest Canadian REITs for investors seeking exposure to industrial and logistics properties. With a portfolio spanning warehouses and distribution centres across Canada and Europe, it benefits directly from e-commerce growth driving demand for last-mile logistics space. The REIT trades on the TSX under DIR.UN and offers monthly distributions.
Key details:
- Focuses on light industrial, logistics, and distribution assets
- Diversified across Ontario, Quebec, and Western Canada
- Historically stable occupancy rates above 95%
4. NorthWest Healthcare Properties
NorthWest Healthcare Properties offers Canadian investors a way to access defensive, recession-resistant real estate through hospitals, medical office buildings, and healthcare facilities. Its global portfolio spans Canada, Australia, Europe, and Brazil, providing geographic diversification uncommon among domestic REITs. For those tracking your investments by sector, healthcare REITs tend to hold value during market downturns.
Notable details:
- Trades on TSX under NWH.UN
- Long-term government-backed leases provide income stability
- Monthly distributions with high yield historically above 6%
5. Chartwell Retirement Residences
Chartwell is Canada's largest operator of seniors housing, making it a direct play on the country's aging population demographic. As a REIT focused on retirement living and long-term care, Chartwell stands out among top Canadian REITs for investors who want exposure to structurally growing demand. Occupancy recovery post-pandemic has strengthened its distribution outlook significantly.
Key details:
- Trades on TSX under CSH.UN
- Portfolio of 190+ retirement communities across Canada
- Benefits from long-term demographic tailwinds as Boomers age
6. Canadian Apartment REIT
Canadian Apartment Properties REIT (CAPREIT) is one of the largest residential REITs in Canada, making it a strong contender for investors seeking exposure to the rental housing market. With over 67,000 residential units across Canada and Europe, it offers broad diversification within the residential sector. Rising Canadian rents have consistently supported CAPREIT's distribution income and net asset value growth.
Key details:
- Ticker: CAR.UN on the TSX
- Monthly distributions with a long track record of stability
- Exposure to urban rental demand in high-growth cities like Toronto and Vancouver
7. Morguard North American Residential
Morguard North American Residential REIT provides Canadian investors with a unique hybrid portfolio spanning both Canadian and U.S. apartment properties, reducing concentration risk in a single market. This cross-border structure suits investors who want residential real estate income with built-in geographic diversification. The REIT trades on the TSX under ticker MRG.UN and has historically traded at a discount to net asset value.
Key details:
- Portfolio split roughly between Canadian and U.S. multi-family units
- Monthly cash distributions to unitholders
- Historically lower price-to-NAV ratio compared to peers like CAPREIT
8. Choice Properties REIT
Choice Properties REIT is one of Canada's largest REITs by asset value, anchored primarily by grocery-tenanted retail properties leased to Loblaw Companies — providing exceptional income stability. According to Million Dollar Journey, necessity-based retail REITs like Choice Properties offer resilience during economic downturns because grocery tenants maintain consistent foot traffic. It trades on the TSX as CHP.UN.
Key details:
- Loblaw as anchor tenant provides reliable, long-term lease income
- Portfolio includes industrial and mixed-use assets beyond retail
- Monthly distributions with a relatively low payout volatility
9. Nexus REIT
Nexus REIT is a smaller Canadian REIT focused primarily on industrial and commercial properties, making it a noteworthy consideration for investors seeking exposure to Canada's growing logistics and light industrial sector. It trades on the TSX and has been expanding its industrial portfolio across secondary markets, offering a yield that often appeals to income-focused investors.
Key details:
- Heavy weighting toward industrial properties — a high-demand Canadian asset class
- Monthly distributions with yields typically in the 6–8% range
- Smaller market cap means higher growth potential but also more volatility
Final Words
Canadian REITs offer a reliable path to real estate income without the hassle of direct ownership — from retail giants to residential and industrial picks. Choose based on whether you prioritize yield, growth, or sector diversification, and consider managing your portfolio with the right tools to stay on top of your returns.