REITs(Real Estate Investment Trusts) which have introduced since July, 2001 have triggered investment in real estates. Initially, office buildings were in the spotlight. However, after introducing Indirected Real Estate Fund in 2004, the attention of investment target has varied greatly from shopping malls and hotels to residential facilities. However, office buildings are still the favorite investment sector in terms of stability and profits, and it consists approximately 46% of REITs. In this research, thirteen REITs establishment were selected. And two types of analysis - correlation and factorial analysis - were conducted, by inspecting both the datas on their financial statements and characteristic of investment real estate. The next step executed was the multiple linear regression analysis based on 10 factors extracted from the preceding analysis - for the purpose of finding out those factors influencing upon the dividend and dividend rate of each company. The study result shows that high influence on the dividend and dividend rate are the Business Scale factors, Rental Income factors and Local Characteristics factors.