Income investors got a mixed setup heading into the back half of 2026. Long rates are still stubborn, credit spreads are tight, and dividend growth has slowed at many blue chips. That has left a narrower band of names offering both a starting yield above 5% and the underlying cash flow to keep raising the payout. The five picks below all clear that bar today, and each has plenty of coverage from AFFO, FFO, or distributable cash flow, which is what actually funds the check.
Gaming & Leisure Properties (GLPI)
Gaming & Leisure Properties (NASDAQ:GLPI | GLPI Price Prediction) is the original triple-net gaming REIT, with 71 gaming and related facilities across 21 states leased to tenants including PENN, Bally’s, Boyd, and Caesars. Shares are trading for roughly $43, against a forward annualized dividend of $3.28 after the June hike from $0.78 to $0.82 per quarter. That translates to a juicy 7.3% dividend.
Coverage looks healthy. Q1 2026 AFFO reached $297.14 million, or $1.02 per diluted share, up 9.2% year over year, and management raised full-year AFFO guidance to $4.08 to $4.12 per diluted share. CEO Peter Carlino said “GLPI’s consistent growth and momentum is evident in our record first quarter results”.
Risk: Two master leases carry sub-threshold coverage, with the amended Pinnacle Master Lease at 1.70x and the Caesars Master Lease at 1.59x, both below the 1.8x escalator trigger.
VICI Properties (VICI)
VICI Properties (NYSE:VICI) owns Caesars Palace, MGM Grand, and the Venetian, among 93 experiential assets at 100% occupancy on a 39.6-year weighted average lease term. With shares trading around $26 and a forward annualized dividend of $1.80, the yield is nearly 7%.
The bull case is durable AFFO with contractual escalators. Management guided 2026 AFFO to $2.42 to $2.45 per diluted share – plenty of coverage there – and CEO Edward Pitoniak highlighted “8th consecutive annual dividend increase” alongside 7.4% AFFO growth with only 2.1% share count growth. New capital deployment includes a $1.16 billion Golden Entertainment sale-leaseback at a 7.5% cap rate, expected to close mid-2026.
Risk: Tenant concentration is heavy, with Caesars at 39% and MGM at 34% of annualized rent, or 73% combined. Q4 2025 also carried a $153.08 million non-cash CECL charge, a reminder that the lending book adds volatility.
W. P. Carey (WPC)
W. P. Carey (NYSE:WPC) is a diversified net-lease REIT with 1,682 properties, 371 tenants, 98% occupancy, and a 12.0-year weighted average lease term. Shares are trading for around $71.50, and the recent quarterly hike to $0.94 puts the forward annualized rate near $3.76, a yield just over 5%.
Dividend coverage is anchored to AFFO growth. Full-year 2025 AFFO came in at $4.97 per share, up 5.7%, and 2026 guidance calls for $5.13 to $5.23 per diluted share. Roughly 48% of leases are CPI-linked, which supports inflation-protected same-store rent growth. CEO Jason Fox said the initial guidance implies “growth in the low-to-mid 4% range”.
Risk: The 2024 post-Office-spinoff dividend reset is still recent, and 2025 absorbed $6.4 million in credit-related rent loss plus European FX exposure on roughly a third of base rent.
Enbridge (ENB)
Enbridge (NYSE:ENB) is the biggest name on the list, with a market cap around $119 billion and one of the longest dividend-growth streaks in North American energy. The Canadian payer just marked its 31st consecutive annual increase, and it’s yielding just over 5%.
Coverage is grounded in distributable cash flow. Q1 2026 DCF was C$3.85 billion, and 2026 guidance calls for adjusted EBITDA of C$20.2 billion to C$20.8 billion with DCF per share of C$5.70 to C$6.10. Backing that is a C$40 billion secured growth backlog plus data-center-driven gas demand.
Risk: Leverage sits at 5.0x debt-to-EBITDA, at the top of the 4.5x to 5.0x target range, and the dividend is paid in Canadian dollars, adding FX translation risk for USD holders.
Getty Realty (GTY)
Getty Realty (NYSE:GTY) is the smallest name on the list, a net-lease REIT focused on 1,174 freestanding convenience, auto service, car wash, and QSR properties across 44 states. It’s yielding about 5.6% with shares trading around $34.
The bull case is deployment velocity. In 2025 Getty put out $268.8 million across 73 properties at a 7.9% initial cash yield and enters this year with more than $500 million in liquidity and roughly $100 million in committed pipeline. 2026 AFFO guidance of $2.48 to $2.50 per diluted share comfortably covers the annualized dividend. CEO Christopher Constant said Getty is “poised for continued growth”.
Risk: Environmental litigation and remediation liabilities remain a lumpy item quarter to quarter, and at a market cap near $2.07 billion, Getty is more dependent on equity issuance to fund deals than its larger peers.
Keep an eye on the next round of ex-dividend dates and Q2 earnings reports, which will show whether the coverage cushion holds after potential mid-year hikes.
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