3 REITs I'd buy to boost my passive income in 2023!

Real estate investment trusts (REITs), I believe, are great stocks for passive income. This is why Target Healthcare and Primary Health Properties are part of my portfolio. I don't have unlimited cash reserves. For these uncertain times, I believe Residential Secure Income (LSE RESI) is a great choice. This REIT specializes in the rental of residential properties. Because of the high private rents in the UK, I would also consider buying the UK share. Hamptons, an estate agent, says tenants in England and Wales spent PS71.5bn in rent in 2022. This was partly due to rising rental prices. Residential Secure Income currently has a 5.6% dividend yield. Empiric Student Property, a student accommodation provider (LSE:ESP), offers great value. It has a 4% dividend yield and trades at a price-to earnings growth (PEG), ratio of 0.6. UK also suffers from a shortage in quality student rental properties. The problem is likely to get worse due to a weak pipeline and rising student numbers. Future earnings could be affected by changes to immigration policy that affect foreign students. Tough economic times can affect self-storage providers like Big Yellow Group (LSE : BYG). If consumers cut back on space purchases, earnings could be affected. As a long-term investor, however, I am still intrigued by this REIT. Because the self-storage market in Britain has plenty of potential for growth over the next ten years, at most. Big Yellow is expanding rapidly to take advantage of this opportunity. Between April and September, it added 191,000 square feet to its portfolio. The FTSE 250 firm has a 3.8% dividend yield today, which is well above the 3% average. This is the post I would buy 3 REITs to increase my passive income by 2023! Royston Wild holds positions in Target Healthcare REIT Plc and Primary Health Properties Plc. Primary Health Properties Plc has been recommended by The Motley Fool UK. The opinions expressed in this article about the companies mentioned are the author's. They may not be the official recommendations that we make in our subscriptions services like Share Advisor, Hidden Winners, and Pro. Motley Fool UK 2023