REIT Industry Monthly Data for September 2019
Industry Size
- FTSE Nareit All REITs equity market capitalization = $1.328 trillion
- FTSE Nareit All Equity REITs equity market capitalization = $1.242 trillion
- 219 REITs are in the FTSE Nareit All REITs Index.
- 183 REITs trade on the New York Stock Exchange.
- NYSE listed REITs equity market capitalization = $1.178 trillion
Dividends
Yield Comparison
- FTSE Nareit All REITs: 3.93%
- FTSE Nareit All Equity REITs: 3.54%
- S&P 500: 1.98%
- Listed REITs (equity REITs and mREITs) paid out approximately $56.7 billion and public non-listed REITs paid out approximately $4.9 billion in dividends during 2018.
- On average, 70 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 15 percent qualify as return of capital and 16 percent qualify as long-term capital gains.
Leverage and Coverage Ratios
(Balance sheet data as of Q2 2019)
FTSE Nareit Equity REIT Index
- Debt Ratio: 29.1%
- Coverage Ratio: 4.7x
- Fixed Charge Ratio: 4.3x
- 66 REITs are rated investment grade, 74% by equity market capitalization.
FTSE Nareit All REIT Index
- Debt Ratio: 42.7%
- Coverage Ratio: 2.9x
- Fixed Charge Ratio: 2.7x
- 66 REITs are rated investment grade, 69% 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
- September 2019: $8.1 billion
- September 2014: $5.3 billion
- September 2009: $3.9 billion
Data as of September 30, 2019, except where noted.
All data are derived from, and apply only to, listed U.S. REITs unless otherwise noted.
