Specialty REITs own and manage a unique mix of property types and collect rent from tenants. Specialty REITs own properties that don’t fit within the other REIT sectors. Examples of properties owned by specialty REITs include movie theaters, casinos, farmland and outdoor advertising sites.

Caesars Palace, multiple Six Flags amusement parks, and Northstar California ski resort are all REIT owned. 

Who Invests in Specialty REITs?  

Many Americans may be unaware that they already have investments in REITs via their 401ks, Thrift Savings Plan (TSP), or other investment vehicle geared towards retirement. Large institutional investors, including pension funds, endowments, foundations, insurance companies, and bank departments, also invest in REITs as a cost effective and efficient way to gain exposure to the real estate asset class. 

How to Invest in Specialty REITs

There are numerous specialty REITs listed on the FTSE Nareit US Real Estate Indexes. Many investors acquire shares in these REITs via REIT mutual funds or exchange-traded funds (ETFs), but individuals can also invest directly in an office REIT with the help of a broker.



4/30/2023, Source: FTSE
Number of REITs
Dividend Yield
YTD Total Return
April Total Return
2022 Total Return

Quarterly Data

Source: Nareit T-Tracker
Q4 2022 2022
FFO ($M) $1,471 $4,311
NOI ($M) $1,847 $7,000
Dividends paid ($M) $1,031 $3,813

List of Specialty REITs

1 Year Total Return Stock price
Blackstone Real Estate Income Trust, Inc.
N/A | New York United States | Specialty REITs
Not available
EPR Properties
EPR | Kansas City United States | Specialty REITs
As of market close 06/04/2023
Farmland Partners Inc.
FPI | Denver United States | Specialty REITs
As of market close 06/04/2023
Fibra Educa
BMV | Mexico City Mexico | Specialty REITs
Not available
Gaming and Leisure Properties, Inc.
GLPI | Wyomissing United States | Specialty REITs
As of market close 06/04/2023
Gladstone Land Corporation
LAND | Mc Lean United States | Specialty REITs
As of market close 06/04/2023