2019 REIT Offerings by Sector

In 2019, senior debt offerings have dominated capital raisings for publicly traded equity REITs, according to S&P Global Market Intelligence.

As of July 30, 2019, publicly traded U.S. equity REITs raised approximately $45.07 billion through capital offerings. Senior debt offerings accounted for 68 percent of total capital raised, amounting to $30.47 billion, followed by common equity which totaled $13.85 billion.

Specialty and healthcare REITs topped the charts among the REIT property sectors, aggregating $19.74 billion through 29 senior debt and 34 common stock offerings. Specialty REIT American Tower Corp. raised $3.55 billion through four senior debt offering, while specialty REIT Digital Realty Trust, Inc. raised a total of $2.33 billion in four senior debt offerings. Office REIT Alexandria Real Estate Equities Inc. ranked third with an aggregated $2.19 billion capital raised via two common and five senior debt offerings, respectively.

During the first seven months of 2018, REIT capital raisings totaled $20.6 billion.

Aftab Alam is an associate in the real estate client operations department of S&P Global Market Intelligence.

 

—Posted on Aug. 7, 2019


As of July 31, 2018. Source: S&P Global Market Intelligence

Year-to-date through July 31, publicly traded U.S. equity REITs raised approximately $20.6 billion through capital raising activity. Senior debt offerings comprised $16.0 billion of the total capital raised, followed by $4.1 billion raised through common stock offerings and $477 million through preferred stock offerings.

Among the REIT property sectors, the specialty sector raised the greatest amount of capital year-to-date as of July 31, at $7.6 billion, with communications REITs accounting for 50.3% of the total amount raised. The industrial sector raised the second largest amount of capital at $2.83 billion.

Khamile Armhynn Sabas is a senior associate in the real estate client operations department of S&P Global Market Intelligence.

—Posted on Aug. 1, 2018