REIT Industry Financial Snapshot

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 October 2020

Industry Size

  • FTSE Nareit All REITs equity market capitalization = $1.107 trillion
  • FTSE Nareit All Equity REITs equity market capitalization = $1.046 trillion
  • 222 REITs are in the FTSE Nareit All REITs Index.
  • 187 REITs trade on the New York Stock Exchange.
  • NYSE listed REITs equity market capitalization = $948.8 billion

Dividends

Yield Comparison

  • FTSE Nareit All REITs: 4.30%
  • FTSE Nareit All Equity REITs: 3.98%
  • S&P 500: 1.80%
  • Listed REITs (equity REITs and mREITs) paid out approximately $63.2 billion and public non-listed REITs paid out approximately $3.7 billion in dividends during 2019.
  • On average, 70 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 15 percent qualify as return of capital and 16 percent qualify as long-term capital gains.

Leverage and Coverage Ratios

(Balance sheet data as of Q1 2020)

FTSE Nareit Equity REIT Index

  • Debt Ratio: 37%
  • Coverage Ratio: 4.6x
  • Fixed Charge Ratio: 4.2x
  • 66 REITs are rated investment grade, 74% by equity market capitalization.

FTSE Nareit All REIT Index

  • Debt Ratio: 47.5%
  • Coverage Ratio: 2.3x
  • Fixed Charge Ratio: 2.2x
  • 66 REITs are rated investment grade, 69% 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

  • October 2020: $6.6 billion
  • October 2015: $6.1 billion
  • October 2010: $3.1 billion

Data as of October 31, 2020, except where noted.

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

Download the full data set.