REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers and hotels.
Nareit’s REIT Directory provides a comprehensive list of REIT and publicly traded real estate companies that are members of Nareit. The directory can be sorted and filtered by sector, listing status, and stock performance.
Each year Nareit collects tax reporting data for each Nareit member. View this year's data or explore the archive.
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The REIT industry's premier annual conference, bringing together leaders for networking, one-on-one meetings, and insights shaping the year ahead.
For 65 years, Nareit has led the U.S. REIT industry by ensuring its members’ best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking.
When assessing the outlook for REITs and commercial real estate in 2022 and beyond, it is helpful to distinguish between impermanent or cyclical effects and the longer-term structural changes that result from changes in behavior.
Though REITs have not been immune to capital market uncertainty and mortgage market turmoil, they continue to have sound operations, solid balance sheets, and successful equity and unsecured debt issuances in the capital markets.
With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023.
At the beginning of 2018 REITs were undervalued and poised for outperformance. At the end of the year both statements were still true—but less so, because the outperformance has begun.
With everyday life upended by the coronavirus for the foreseeable future, the commercial real estate industry is shifting on a daily basis.
An increase in interest rates might be cause for concern if it were predicted to come with no accompanying increase in net operating income—but it’s those changes in net operating income, not the interest rates themselves, that should attract the closest attention of investors in any equity asset such as real estate.
Here’s the myth: an increase in interest rates is bad for real estate investors. Here’s the empirical fact: the historical evidence shows that real estate investors—at least those who invest through exchange-traded REITs—have usually done better during rising-rate environments than when interest rates were declining.
Historically, REITs have performed well during periods of rising long-term interest rates with average four-quarter return in periods with rising rates of 16.55% compared to 10.68% in non-rising rate periods from the first quarter of 1992 to the fourth quarter of 2021.
REIT share prices have often responded negatively to rising interest rates, at least since 2013. Is this warranted by the outlook for their future earnings?
A close examination of REIT financial exposures suggests that increases in interest rates may have little impact on their operating performance.
Rising interest rates worry real estate investors. Their fears are rooted in the view that interest rate increases will result in rising cap rates and, all else being equal, declining property values.
Historically, when REIT dividend yields became high relative to the yields on other income-oriented investments, that has usually been a sign that REITs had become undervalued and were likely to perform strongly over the next several years.
In today’s economy, the pace of inflation has moderated, economic growth has remained healthy, the unemployment rate has held steady, the prospects of recession have lessened, and expectations for continued monetary policy easing have proliferated.
Market interest rates typically increase during periods when macroeconomic conditions are strengthening, the same strengthening that often drives positive REIT investment performance.
How well are stock-exchange listed Equity REITs positioned for the interest rate environment ahead?
The outlook for equity REITs’ operating performance in 2016 depends in many ways on the impact of rising interest rates. How much will higher interest payments affect earnings? How solid are REIT balance sheet positions? Will higher short-term rates cause any difficulties covering interest payments?