REITs ended 2019 with a flat 4th quarter stock market performance, but with strong returns over the entire year. The FTSE Nareit All Equity REITs index increased 0.1% in Q4 but finished the year with an increase of 28.7%. Annual growth in FFO for 2019 was up 6.6% for Equity REITs. Debt to book assets fell to 49.8% in the fourth quarter. Interest expense to NOI followed the same pattern, dropping a percentage point at the end of the 2019. The weighted average term to maturity continued to lengthen to nearly 7 years. Download the 2019 Q4 data.
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1Source: FactSet, FTSE Nareit US, FTSE EPRA/Nareit Global
2Source: Nareit T-Tracker®, except where noted. Operational Performance is dollar weighted from the FTSE Nareit All Equity REITs index.
3Gross acquisitions less dispositions over the prior 4 quarters as a portion of undepreciated book value of total property holdings, reported in basis points
4Source: Green Street Advisors All REIT Premium to NAV
5Source: Bureau of Economic Analysis GDP report and Bureau of Labor Statistics Employment and CPI reports