REITs are great investments for those seeking a monthly income stream. And while there are no shortage of great Canadian REITs for investors, there are some that are better than others.
The monthly income that REITs provide can smoothen cash flow, making it ideal for retirees looking for monthly distributions. That benefit extends to investors not ready to draw on that income yet, allowing them to continue growing any position through reinvestments.
Here’s a look at a trio of Canadian REITs that will provide a solid monthly income stream in 2026.
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Pick #1 – Industrial and logistics
The first of the Canadian REITs to consider is Granite REIT (TSX:GRT.UN). Granite is an industrial-focused REIT that operates a portfolio of industrial and warehouse facilities across Europe and North America.
That portfolio comprises over 140 properties and 63 million square feet of space. Those properties include a mix of manufacturing, distribution, and e-commerce tenants.
This translates into a mix of tenants that cater to both stability and growth. Throw in a high occupancy rate of nearly 95%, and you have a hard-to-ignore pick for any income-seeking investor.
Turning to distributions, Granite offers a robust 4.5% yield, meaning that a $13,000 investment in a larger portfolio of Canadian REITs will provide an income of nearly $50 per month.
Pick # 2 – Essential medical infrastructure
The second pick among the great Canadian REITs to invest in right now is NorthWest Healthcare Properties REIT (TSX:NWH.UN).
As the name implies, NorthWest Healthcare is focused on healthcare real estate properties. That includes hospitals, clinics, and medical office buildings. Northwest Healthcare’s portfolio spans sites across North America, Europe, Brazil, and Australasia.
In total, the REITs portfolio spans nearly 170 income-generating properties, all of which are supported by long-term leases within the healthcare space. This makes them incredibly stable options for long-term investors.
Turning to distributions, Northwest Healthcare pays a monthly distribution that works out to a respectable 6.8% yield. For those investors with $13,000 to invest in Northwest Healthcare, it works out to an income of approximately $75 per month.
Between that juicy income, defensive appeal and geographical diversification, Northwest Healthcare is one of the Canadian REITs that’s too hard to ignore.
Pick #3 – Groceries and mixed-use properties
The final pick for investors looking at Canadian REITs is Choice Properties REIT (TSX:CHP.UN)
Choice owns a string of grocery-anchored retail properties. The REIT’s tenant list includes some of the largest national grocers and pharmacy properties, which provide the bulk of the company’s rent.
Beyond its core grocery anchor, Choice also operates some industrial and mixed-use properties, which provide a small but notable diversification appeal. Prospective investors should also note the defensive appeal that comes with grocery-anchored properties.
From a distribution standpoint, Choice provides an appetizing 5.3% yield. Given the same $13,000 initial investment, prospective investors can expect to generate approximately $57 each month.
Are you buying these Canadian REITs?
Granite, Choice, and NorthWest offer investors a diversified portfolio that can provide a recurring revenue stream for income-seekers.
| Company | Recent Price | No. Of Shares | Dividend | Annual Payout | Frequency |
| Granite | $75.92 | 171 | $3.40 | $581.40 | Monthly |
| NorthWest Healthcare REIT | $5.26 | 2,471 | $0.36 | $889.56 | Monthly |
| Choice Properties REIT | $14.56 | 892 | $0.77 | $686.84 | Monthly |
| Totals | $2157.80 |
Collectively, all three of the above can provide nearly $180 per month, given a $13,000 investment in each. And perhaps best of all, investors who aren’t ready to draw on the income produced from these Canadian REITs can opt to reinvest those distributions, allowing them to continue growing.
In short, these REITs can anchor a portfolio with dependable monthly income.
