After a strong multi-year run for equities, truly high-yield dividends are harder to find. Three names still stand out with yields above 5% and the cash flow to keep paying: Realty Income (NYSE: O), Healthpeak Properties (NYSE: DOC), and Pfizer (NYSE: PFE).
Key takeaways
- Realty Income: Monthly payer with a decades-long dividend growth record and a global runway for expansion. Recent yield ~5.5%.
- Healthpeak Properties: Post-merger healthcare REIT with a reset payout and improving leasing metrics. Recent yield ~6.8%.
- Pfizer: Share price is well below pandemic-era highs, but the dividend has been raised for 16 straight years. Recent yield ~6.9%.
1) Realty Income (NYSE: O)
Why it’s on the list: Realty Income is one of the market’s most reliable income engines. It pays monthly and has increased its dividend regularly for decades. At recent prices, the yield sits around the mid-5% range.
What’s changed since rates jumped: Higher rates in 2022–2023 pressured most REITs, but Realty Income’s cash flows continued to climb thanks to long leases, high occupancy, and scale.
Growth runway: As of June 30, 2025, the portfolio included ~15,600 properties across the U.S. and Europe. The addressable market remains huge: public net-lease REITs represent roughly ~4% of the U.S. net-lease market and <0.1% in Europe—a sign there’s still plenty of room to consolidate.
Risks: REITs are sensitive to interest rates and capital market conditions. Investors should watch debt costs and acquisition spreads.
2) Healthpeak Properties (NYSE: DOC)
Why it’s on the list: Healthpeak rents life-science labs and outpatient medical space. To diversify after a slowdown in early-stage biotech demand, it completed an all-stock merger with Physicians Realty Trust. The enlarged company now pays dividends monthly and offers a yield around the high-6% area.
Operating pulse: In the latest reported quarter (Q2 2025), management highlighted solid leasing momentum—~1.5M sq ft of new/renewal leases total, including ~503k sq ft in labs—and reaffirmed full-year guidance ranges centered around $1.78–$1.87 for FFO per share (various definitions as reported). The dividend is currently $1.22 annualized.
Why now: The share count increased with the merger (which forced a payout reset), but the stock’s decline since then has lifted the yield for new buyers. If leasing keeps improving and rates ease, the payout has room to grow over time.
Risks: Lab demand cycles, interest-rate sensitivity, and integration execution post-merger.
3) Pfizer (NYSE: PFE)
Why it’s on the list: Pfizer’s share price is down sharply from pandemic peaks, but the company has now raised its dividend for 16 consecutive years. At recent prices, the yield is close to ~6.9%.
The big overhang: A loss-of-exclusivity (“LOE”) wave is expected to trim about $17–$18 billion in annual revenue, mostly between 2026 and 2028.
How Pfizer plans to offset it: Management expects products acquired in recent deals (including Seagen) and new internal launches to contribute roughly ~$20 billion in annual sales by 2030, helping backfill those LOE headwinds. Until then, the dividend remains a central piece of total return.
Risks: Pipeline execution, pricing pressures, and the timing/magnitude of LOE impacts.
Bottom line
If you’re building a long-term income sleeve, these three names combine above-market yields with credible paths to sustain (and potentially grow) their payouts. As always, check current quotes/yields before buying and size positions to your risk tolerance.
Disclosure: This article is for information only and is not financial advice. Dividend yields are variable. Do your own research or consult a professional before investing.
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