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 up to 6.4% that you could buy today.

Saul Centers

Saul Centers (NYSE:BFS) owns and manages a portfolio of 61 commercial properties, including 50 community and neighborhood shopping centers, seven mixed-use properties, and four development properties, containing approximately 9.8 million square feet. The majority of its properties are located in the metropolitan Washington, D.C. and Baltimore area.

Saul Centers currently pays a quarterly dividend of $0.59 per share, equating to an annualized dividend of $2.36 per share and giving its stock a yield of about 6.4% at the time of this writing. The company has also raised its annual dividend payment nine times in the last 10 years, making it both a high-yield and dividend-growth play.

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Simon Property Group, Inc.

Simon Property Group (NYSE:SPG) owns and operates more than 250 shopping centers across North America, Europe, and Asia, including properties in the top 25 U.S. markets based on population. Its properties are home to more than 3,000 leading brands, including Dick's Sporting Goods, Gap, Lululemon, Macy's, Neiman Marcus, and Tiffany & Co.

Simon Property currently pays a quarterly dividend of $1.95 per share, equating to an annualized dividend of $7.80 per share and giving its stock a yield of about 5.1% at the time of this writing. The company has also raised its dividend each of the last two years, and its hike last month has it on track for 2024 to mark the third consecutive year with an increase.

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