Each month, Nareit provides a statistical snapshot of the overall REIT market. More detailed information is available in REIT indexes. 

REIT Industry Monthly Data for April 2023

Industry Size

  • FTSE Nareit All REITs equity market capitalization = $1.274 trillion
  • FTSE Nareit All Equity REITs equity market capitalization = $1.217 trillion
  • 204 REITs are in the FTSE Nareit All REITs Index.
  • 166 REITs trade on the New York Stock Exchange.
  • NYSE listed REITs equity market capitalization = $1.087 trillion


Yield Comparison

  • FTSE Nareit All REITs: 4.45%
  • FTSE Nareit All Equity REITs: 4.07%
  • S&P 500: 1.58%
  • Listed REITs (equity REITs and mREITs) paid out approximately $62.3 billion and public non-listed REITs paid out approximately $5.6 billion in dividends during 2022.
  • By market cap-weighted average, 65 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 17 percent qualify as return of capital and 18 percent qualify as long-term capital gains in 2021.

Leverage and Coverage Ratios

(Balance sheet data as of Q4 2022)

All Equity REITs

  • Debt Ratio: 33.7%
  • Coverage Ratio: 4.5x

Average Daily Dollar Trading Volume

  • April 2023: $7.1 billion
  • April 2018: $6.7 billion
  • April 2013: $4.7 billion

Data as of April 30, 2023, except where noted.

All data are derived from, and apply only to, listed U.S. REITs unless otherwise noted.

Download the full data set