Industry Snapshot

Data is a crucial resource when evaluating any industry. REIT.com provides an array of industry data from NAREIT as well as other providers.

REIT Industry Fact Sheet

Data as of July 31, 2015, except where noted.

All data are derived from, and apply only to, publicly traded US REITs.

Industry Size

  • FTSE NAREIT All REITs equity market capitalization = $935 billion
  • FTSE NAREIT All Equity REITs equity market capitalization = $867 billion
  • REITs own approximately $2.0 trillion of commercial real estate assets, including stock exchange-listed and public, non-listed REITs
  • 226 REITs are in the FTSE NAREIT All REITs Index
  • 199 REITs trade on the New York Stock Exchange
  • NYSE listed REITs equity market capitalization = $890 billion

Dividends

Yield Comparison

  • FTSE NAREIT All REITs: 4.14%
  • FTSE NAREIT All Equity REITs: 3.70%
  • S&P 500: 2.07%
  • Stock exchange-listed REITs paid out approximately $42 billion and public non-listed REITs paid out approximately $4 billion in dividends during 2014.
  • On average, 67 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 17 percent qualify as return of capital and 16 percent qualify as long-term capital gains.

Leverage and Coverage Ratios

(Balance sheet data as of Q1 2015)

Equity REITs

  • Debt Ratio: 32.3%
  • Coverage Ratio: 4.5x
  • Fixed Charge Ratio: 4.1x
  • 46 Equity REITs are rated investment grade, 68 percent by equity market capitalization.

All REITs

  • Debt Ratio: 43.5%
  • Coverage Ratio: 3.6x
  • Fixed Charge Ratio: 3.3x
  • 46 REITs are rated investment grade, 62 percent by equity market capitalization.
  • Coverage ratio equals EBITDA divided by interest expense.
  • Fixed charge ratio equals EBITDA divided by interest expense plus preferred dividends.

Average Daily Dollar Trading Volume

  • July 2015: $5.8 billion
  • July 2010: $3.8 billion
  • July 2005: $1.6 billion