REIT Industry Monthly Data for March 2018
Industry Size
- FTSE Nareit All REITs equity market capitalization = $1.062 trillion.
- FTSE Nareit All Equity REITs equity market capitalization = $986.8 billion.
- 226 REITs are in the FTSE Nareit All REITs Index.
- 191 REITs trade on the New York Stock Exchange.
- NYSE listed REITs equity market capitalization = $955.8 billion.
Dividends
Yield Comparison
- FTSE Nareit All REITs: 4.59%
- FTSE Nareit All Equity REITs: 4.27%
- S&P 500: 2.00%
- 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 Q4 2017)
FTSE Nareit Equity REIT Index
- Debt Ratio: 31.7%
- Coverage Ratio: 4.3x
- Fixed Charge Ratio: 4.0x
- 70 REITs are rated investment grade, 68 percent by equity market capitalization.
FTSE Nareit All REIT Index
- Debt Ratio: 42.2%
- Coverage Ratio: 3.8x
- Fixed Charge Ratio: 3.5x
- 70 REITs are rated investment grade, 65 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
- March 2018: $7.2 billion
- March 2013: $4.8 billion
- March 2008: $4.5 billion
Data as of March 31, 2018, except where noted.
All data are derived from, and apply only to, listed U.S. REITs unless otherwise noted.
