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REIT Industry Fact Sheet
Data as of December 31, 2014, except where noted.
All data are derived from, and apply only to, publicly traded US REITs.
· FTSE NAREIT All REITs equity market capitalization = $907 billion
· FTSE NAREIT All Equity REITs equity market capitalization = $833 billion
· REITs own approximately $1 trillion of commercial real estate assets, including stock exchange-listed and public, non-listed REITs
· 216 REITs are in the FTSE NAREIT All REITs Index
· 188 REITs trade on the New York Stock Exchange
· NYSE listed REITs equity market capitalization = $875 billion
- FTSE NAREIT All REITs: 4.00%
- FTSE NAREIT All Equity REITs: 3.56%
- S&P 500: 2.00%
· REITs paid out approximately $34 billion in dividends in 2013.
· On average, 68 percent of the annual dividends paid by REITs qualify as ordinary taxable income, 13 percent qualify
as return of capital and 19 percent qualify as long-term capital gains.
Leverage and Coverage Ratios
(Balance sheet data as of Q3 2014)
· Debt Ratio: 31.6%
· Coverage Ratio: 4.0x
· Fixed Charge Ratio: 3.6x
· 46 Equity REITs are rated investment grade, 68 percent by equity market capitalization.
· Debt Ratio: 42.7%
· Coverage Ratio: 3.4x
· Fixed Charge Ratio: 3.1x
· 46 REITs are rated investment grade, 62 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 2014: $6.1 billion
· December 2009: $3.1 billion
· December 2004: $1.4 billion