The idea is "growth only" for these real estate investment trusts (REITs), none of which pay dividends.

Investors in these REITs anticipate greater funds from operations without the worry about interest rate moves that dividend-paying funds have. Money being made stays with the company so that it can increase profitability and enhance long-term value.

These investments are not for those interested in regular quarterly or monthly payments, a feature of most REITs. Will the underlying value of the property grow so much that, in the end, it's a better choice? That's the question for potential investors.

Check out: This Little Known REIT Has Produced Double-Digit Annual Returns For The Past Five Years

DigitalBridge Group Inc. (NYSE:DBRG) owns and operates global digital infrastructure and real estate. Its platform manages nearly $48 billion, according to its website. It focuses on digital infrastructure opportunities. The company was known as Colony Capital until 2020 when it switched from hospitality real estate to digital infrastructure. Funds from operations (FFO) is up 72% this year. The five-year FFO growth rate is a negative 22.60%. In March 2022, JP Morgan upgraded DigitalBridge Group from "underweight" to "neutral."

Ryman Hospitality Properties Inc. (NYSE:RHP) is a REIT that owns destination hotels and motels in urban and resort markets in the U.S. With two divisions — hospitality and entertainment — it manages famous properties such as The Grand Ole Opry, WSM-AM radio and other Nashville units. Ryman's FFO increased this year by 57.70%. FFO is down by 24.9% over the past five years. Truist analysts just upgraded the REIT from "hold" to "buy" with a price target of $95 to $103.

GEO Group Inc. (NYSE:GEO) is a specialty REIT with an emphasis on the rehabilitation sector. According to its website, "The GEO Group is committed to providing leading, evidence-based rehabilitation programs to individuals while in custody and post-release into the community." Its FFO is off by 38.10% this year, and the past five-year FFO is a negative 15.20%.

Not investment advice. For educational purposes only.