Each month, Nareit®, the National Association of Real Estate Investment Trusts®, provides a statistical snapshot of the overall REIT market. More detailed information is available in REIT indexes. 

REIT Industry Monthly Data for July 2025

Industry Size

  • FTSE Nareit All REITs equity market capitalization = $1.425 trillion
  • FTSE Nareit All Equity REITs equity market capitalization = $1.365 trillion
  • REITs own over $4.5 trillion of commercial real estate assets, including listed and non-listed public and private Equity and Mortgage REITs
  • 197 REITs are in the FTSE Nareit All REITs Index
  • 160 REITs trade on the New York Stock Exchange
  • NYSE listed REITs equity market capitalization = $1.218 trillion

Dividends

Yield Comparison

  • FTSE Nareit All REITs: 4.38%
  • FTSE Nareit All Equity REITs: 4.01%
  • S&P 500: 1.17%
  • Public listed REITs paid out approximately $66.2 billion and public non-listed REITs paid out approximately $4.3 billion in dividends during 2024.
  • By market cap-weighted average, 78 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 12 percent qualify as return of capital and 9 percent qualify as long-term capital gains in 2024.

Leverage and Coverage Ratios

(Balance sheet data as of 2025: Q1)

All Equity REITs

  • Debt Ratio: 32.5%
  • Coverage Ratio: 4.1x

Average Daily Dollar Trading Volume

  • July 2025: $9.7 billion
  • July 2020:  $7.4 billion
  • July 2015: $6.5 billion

Data as of July 31, 2025, except where noted.

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

Download the full data set