Key Highlights

  • A 116th straight quarterly increase lifted Realty Income's annualized payout to $3.258 per share.
  • Healthpeak Properties will distribute $0.10167 monthly, which annualizes to $1.22 for the rest of the year.
  • UDR's Dec 31, 2026 payment, at $0.145 a month, is set to be its 220th consecutive dividend.
  • SBA Communications' $1.25 declaration carries a Dec 10, 2026 payment date and a Nov 12, 2026 record date.
  • Sabra Health Care REIT plans to pay $0.30 a share in a quarterly distribution on Nov 30, 2026.

Which Real Estate Trusts Attached Dividend Decisions to Their Third-Quarter Reports?

Five real estate Investment trusts reporting on Nov 2, 2026 also disclosed payout decisions. Realty Income (NYSE:O) lifted sales to $1,621.6 million, roughly 10.3% higher (calculated), reported AFFO of $1.12 a share, and put its annualized payout at $3.258 a share. Healthpeak Properties (NYSE:DOC) booked $820.9 million in Revenue and declared $0.10167 a share monthly through December.

UDR (NYSE:UDR) produced $214.9 million in Net Income while maintaining $0.145 a share each month. Sabra Health Care REIT (NASDAQ:SBRA) brought in $249.6 million of revenue and declared a $0.30 quarterly dividend per share. For SBA Communications (NASDAQ:SBAC), net income landed at $231.3 million, and its $1.25 declaration pays out on Dec 10, 2026.

Cadence varies: Healthpeak Properties and UDR distribute on a monthly basis, while the remaining three declared quarterly or single payments. The Realty Income material provides only the annualized rate and its run of increases, lacking a payment date.

Realty Income: Counting the Quarters of Consecutive Raises

September 2026 brought the 116th consecutive quarterly increase, pushing the annualized payout to $3.258 a share. On a per-share basis AFFO grew 3.7%, moving from $1.08 to $1.12, and total AFFO amounted to $1,061.1 million.

Attributable net income expanded to $403.9 million, up from $315.8 million, although write-downs, Credit loss reserves and property sale gains can shift that line sharply. For 2026 the AFFO-per-share guidance was raised to a band of $4.45 and $4.46. During the quarter, $2.6 billion went into investments with an initial weighted cash Yield of 6.8%.

In August the company placed $1.0 billion in convertible senior notes and spent $188.7 million on Buybacks covering roughly 3.0 million shares, and occupancy was 98.8%.

Healthpeak Properties: What Backs the Monthly Distribution?

The monthly distribution of $0.10167 per share annualizes to $1.22, and checks are scheduled for Nov 25 and Dec 30, 2026. Earnings applicable to common shares totaled $17.1 million, which works out to $0.02 per share, while FFO as Adjusted printed $0.44 compared with $0.46 one year earlier.

Management lifted its FFO as Adjusted forecast to a band between $1.76 and $1.78 per share, versus $1.73 and $1.77 before. Diluted EPS expectations were cut to a range of $0.39 and $0.41, down from $0.48 and $0.52, owing to Depreciation on senior housing purchases.

Senior housing same-store NOI climbed 25.9%, whereas the lab segment's dipped 0.7%. Overall, top-line growth reached roughly 16.3% (calculated).

UDR: Tracing the Monthly Payment Count to 220

Each month UDR pays $0.145 a share, a $1.74 annual equivalent, and the Dec 31, 2026 installment will be the 220th in a row. Bottom-line earnings came to $214.9 million, equal to $0.67 on a diluted basis, with $190.1 million of gains on property sales providing a lift, and FFO as Adjusted held flat at $0.65.

Revenue retreated 0.9%, ending at $428.1 million, since property sales offset growth elsewhere. A completed joint venture released $1.34 billion in equity, and roughly 5.2 million shares were repurchased for about $185.1 million through October.

UDR's 2026 FFO as Adjusted outlook now lies between $2.54 and $2.56 per share. Its outlook range was narrowed, with the midpoint up $0.02 (calculated); the separate FFO range midpoint fell $0.02.

SBA Communications: What Supports the $1.25 Payout?

AFFO per share landed at $3.19, a decline of 3.3%, and attributable net income came to $231.3 million, which equals $2.19 per diluted share. The $1.25 declaration is slated for Dec 10, 2026, with holders as of Nov 12 eligible.

Top-line dropped from $732.3 million to $713.9 million because site development work declined. Domestic leasing income declined 3.4%, whereas revenue from overseas operations climbed 13.3%.

The company repurchased 1.7 million shares at a total cost of $300.0 million during the quarter, and still has an $0.8 billion authorization available. Its net Leverage Ratio was 6.4 times, while the AFFO-per-share projection for 2026 moved up to $12.15 through $12.37.

Sabra Health Care REIT: Setting the $0.30 Quarterly Payout Against AFFO

Directors approved the $0.30 per-share quarterly payout on Nov 2, 2026. It is payable Nov 30 to those on the register as of Nov 13. AFFO reached $0.45 a diluted share versus $0.37, and common stockholders' net income came to $28.6 million.

Revenue expanded roughly 31% (calculated), landing at $249.6 million, as resident fees in the senior housing operating portfolio rose 56%. Rental revenue received a lift of $10.2 million from a one-time deferred rent payment.

The read-through rests entirely on the quarterly filing, since no press release or guidance was included. Over nine months, net income decreased to $44.3 million, reflecting a $104.6 million provision for Loan losses, and Liquidity sat near $1.2 billion.

Payout Ratios and Growth Compared: Five Real Estate Trusts Side by Side

Payouts restated on a quarterly basis, measured against AFFO or against FFO as Adjusted, produce these approximations (all calculated): Sabra Health Care REIT 66.7%, UDR 66.9%, Healthpeak Properties 69.3% and Realty Income 72.7%. Those four average near 68.9% (calculated). SBA Communications falls outside the figures because its article leaves open whether $1.25 represents one quarter.

The average top-line increase works out to 10.9% (calculated), with the 31.3% figure for Sabra Health Care REIT leading and an SBA Communications drop of 2.5% trailing. UDR's $1.74 and Realty Income's $3.258 are both annual rates, whereas Sabra's $1.20 annual figure is derived (calculated) from its quarterly amount.

Share counts differ, and so does the choice between AFFO and FFO as Adjusted, which makes these ratios approximate.

What to Watch Next: Dated Payment, Record and Balance Sheet Items

Healthpeak Properties' payments are due on Nov 25 and on Dec 30, 2026, while UDR's December installment is Dec 31, 2026. SBA Communications' Record Date of Nov 12 precedes its Dec 10 payment, and a $1,165.0 million tower securities repayment is anticipated on Nov 9, 2026. Sabra Health Care REIT's record date is Nov 13, its payment is Nov 30, and its revolver matures Jan 4, 2027.

Healthpeak Properties and UDR both set calls for Nov 3, 2026. Realty Income's materials name no dated occurrence, and point toward the fourth-quarter release, when the full-year investment total will be weighed against a $10.0 billion goal.