REIT Industry Monthly Data for September 2018
Industry Size
- FTSE Nareit All REITs equity market capitalization = $1.132 trillion.
- FTSE Nareit All Equity REITs equity market capitalization = $1.058 trillion
- 226 REITs are in the FTSE Nareit All REITs Index.
- 189 REITs trade on the New York Stock Exchange.
- NYSE listed REITs equity market capitalization = $1.014 trillion
Dividends
Yield Comparison
- FTSE Nareit All REITs: 4.36%
- FTSE Nareit All Equity REITs: 4.00%
- S&P 500: 1.87%
- 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 Q2 2018)
FTSE Nareit Equity REIT Index
- Debt Ratio: 31.8%
- Coverage Ratio: 4.6x
- Fixed Charge Ratio: 4.2x
- 67 REITs are rated investment grade, 67 percent by equity market capitalization.
FTSE Nareit All REIT Index
- Debt Ratio: 41.9%
- Coverage Ratio: 3.8x
- Fixed Charge Ratio: 3.6x
- 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
- September 2018: $6.4 billion
- September 2013: $4.4 billion
- September 2008: $5.1 billion
Data as of September 30, 2018, except where noted.
All data are derived from, and apply only to, listed U.S. REITs unless otherwise noted.
