Camden Property Trust (CPT 2.22%) is one of the country's largest multifamily landlords. The real estate investment trust (REIT) owns 176 communities with nearly 60,000 apartment homes across 15 high-growth housing markets.

The residential REIT's apartment portfolio delivers steady rental income growth, enabling it to pay an attractive dividend. That makes Camden a great way to earn passive income from real estate.

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Camden Property Trust currently rewards shareholders with a quarterly dividend of $1.05 per share ($4.20 annually). At its recent price above $110, this REIT offers a compelling yield of roughly 3.7% -- triple that of the S&P 500 (about 1.2%).

The REIT's high-yielding dividend is very sustainable. Camden Property expects to earn $6.78 of core funds from operations (FFO) per share this year. That number has steadily risen over the years (it was closer to $5 per share in 2021), driven by rent and portfolio growth.

Camden Property's focus on high-growth markets enables it to benefit from high apartment demand, resulting in consistently high occupancy levels and rising rents. That supports rising rental income across its existing apartment portfolio.

Additionally, Camden has a strong financial profile, positioning it for continued portfolio expansion. It is investing $639 million into four new apartment developments and recently acquired two communities for $199 million. With secured land for two additional future communities and a target of $600 million-$900 million in acquisitions this year, Camden has more growth ahead. These investments enhance its ability to grow the dividend.

The REIT's growth drivers should enable it to continue increasing its core FFO per share and dividend at healthy rates. Camden Property has boosted its dividend by 275% since its initial public offering in 1993.

With a steadily rising high-yielding dividend, Camden is a great buy for income-seeking investors.