In today's market, the average dividend stock may not be very appealing to income-focused investors, with yields hovering around 1.4% based on the S&P 500's yield. However, there are several companies that offer significantly higher dividend yields, including Camden Property Trust, Iron Mountain, and W.P. Carey. These real estate investment trusts (REITs) stand out for their attractive dividend payouts, making them compelling investment opportunities.

Camden Property Trust, a residential REIT, focuses on owning apartments in fast-growing metro areas. With 172 communities and 58,634 apartment units across 15 major markets, primarily in the U.S. Sun Belt region, Camden benefits from markets with above-average employment and population growth. This strong demand for rental housing not only keeps occupancy rates high but also allows landlords to steadily increase rents. Currently yielding 4.2%, Camden has consistently raised its dividend, reflecting its growing rental income.

Despite facing headwinds from higher interest rates and growing supply in some markets, Camden's shares have declined 45% from their peak level in 2022. However, as the Federal Reserve cuts rates and markets absorb the new supply, these headwinds are expected to fade. Investors have the opportunity to benefit from the potential recovery of Camden's shares while collecting its high-yielding dividend.

Iron Mountain, a specialty REIT focused on secure information storage, offers a dividend yield of 3.3%, more than double the S&P 500's yield. Iron Mountain has consistently increased its payout, having raised it by 5% last year and 37% since becoming a REIT a decade ago. The company is investing heavily to expand its global data center capacity, driving accelerated growth. With revenue growth of 7% and adjusted funds from operations (FFO) rising by 4% per share in the past year, Iron Mountain is cashing in on the booming data center sector, positioning itself for high growth rates.

W.P. Carey, a diversified REIT, currently offers the highest yield among the three with an impressive 6.2%. Last year, the company reset its dividend following a strategic exit from the office sector, freeing up capital to invest in higher-growth property sectors such as warehouse and industrial facilities. Already demonstrating positive results, W.P. Carey increased its dividend by 0.6% from its reset level. As the company continues to focus on higher-growth property sectors and expands its portfolio through property acquisitions, it aims to grow its dividend in line with its adjusted FFO.

With the high yields and upside potential of these three REITs, Camden Property Trust, Iron Mountain, and W.P. Carey present compelling investment opportunities for income-focused investors. Despite not being among the 10 best stocks according to The Motley Fool Stock Advisor analyst team, these REITs have strong growth catalysts that could lead to robust total returns in the coming years. As always, investors are advised to do their own research and consider their investment goals before making any investment decisions.