REIT Industry Monthly Data for December 2018
Industry Size
- FTSE Nareit All REITs equity market capitalization = $1.048 trillion
- FTSE Nareit All Equity REITs equity market capitalization = $973.9 billion
- 226 REITs are in the FTSE Nareit All REITs Index.
- 186 REITs trade on the New York Stock Exchange.
- NYSE listed REITs equity market capitalization = $935.6 billion
Dividends
Yield Comparison
- FTSE Nareit All REITs: 4.80%
- FTSE Nareit All Equity REITs: 4.37%
- S&P 500: 2.22%
- Listed REITs (equity REITs and mREITs) paid out approximately $53.2 billion and public non-listed REITs paid out approximately $4.3 billion in dividends during 2017.
- On average, 76 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 10 percent qualify as return of capital and 14 percent qualify as long-term capital gains.
Leverage and Coverage Ratios
(Balance sheet data as of Q3 2018)
FTSE Nareit Equity REIT Index
- Debt Ratio: 32.3%
- Coverage Ratio: 4.5x
- Fixed Charge Ratio: 4.2x
- 67 REITs are rated investment grade, 67 percent by equity market capitalization.
FTSE Nareit All REIT Index
- Debt Ratio: 43.4%
- Coverage Ratio: 3.7x
- Fixed Charge Ratio: 3.4x
- 67 REITs are rated investment grade, 63 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
- December 2018: $7.9 billion
- December 2013: $4.7 billion
- December 2008: $4.6 billion
Data as of December 31, 2018, except where noted.
All data are derived from, and apply only to, listed U.S. REITs unless otherwise noted.
