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 November 2022

Industry Size

  • FTSE Nareit All REITs equity market capitalization = $1.343 trillion
  • FTSE Nareit All Equity REITs equity market capitalization = $1.276 trillion
  • 208 REITs are in the FTSE Nareit All REITs Index.
  • 170 REITs trade on the New York Stock Exchange.
  • NYSE listed REITs equity market capitalization = $1.148 trillion

Dividends

Yield Comparison

  • FTSE Nareit All REITs: 4.05%
  • FTSE Nareit All Equity REITs: 3.68%
  • S&P 500: 1.55%
  • Listed REITs (equity REITs and mREITs) paid out approximately $51.7 billion and public non-listed REITs paid out approximately $2.2 billion in dividends during 2020.
  • By market cap-weighted average, 58 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 14 percent qualify as return of capital and 28 percent qualify as long-term capital gains in 2020.

Leverage and Coverage Ratios

(Balance sheet data as of Q3 2022)

All Equity REITs

  • Debt Ratio: 34.5%
  • Coverage Ratio: 6.0x

Average Daily Dollar Trading Volume

  • November 2022: $7.9 billion
  • November 2017: $6.9 billion
  • November 2012: $4.2 billion

Data as of November 30, 2022, except where noted.

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

Download the full data set