Retail real estate investment trusts (REITs) specialize in owning and managing retail properties, including shopping centers, malls, strip malls, and other retail spaces. Retail REITs generate revenue through leasing space to retailers, making them a popular choice for investors seeking income.

As is the case with all REITs, retail REITs are required to distribute a significant portion of their income to shareholders in the form of dividends, making them a popular choice for investors seeking income.

Here are two retail REITs with yields over 5% that you could buy today.

Realty Income

Realty Income (NYSE:O) is the 5th largest global REIT with a portfolio of more than 15,450 commercial properties totaling approximately 272 million square feet. Its largest tenants include Dollar General, Walgreens, Dollar Tree, 7-Eleven, FedEx, CVS, Walmart, and Tractor Supply.

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Realty Income currently pays a monthly dividend of $0.257, equating to an annualized dividend of $3.084 per share and giving its stock a yield of about 5.7% at the time of this writing. 

In addition to offering a high yield, Realty Income is a dividend aristocrat. It has raised its annual dividend for 29 consecutive years, including 105 consecutive quarterly increases, and it's currently on track for 2024 to mark the 30th consecutive year with an increase.

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Simon Property Group, Inc.

Simon currently pays a quarterly dividend of $1.95 per share, equating to an annualized dividend of $7.80 per share, which gives its stock a yield of about 5.4% at the time of this writing. 

Like Realty Income, Simon has shown a dedication to growing its dividend, but its track record is not nearly as impressive. Simon has raised its dividend each of the last two years, and its 2.6% hike in February has it on track for 2024 to mark the third consecutive year with an increase.

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