2019 REIT Results

The projected proportion of earnings to be paid as dividends, cycling among REIT subcategories.

U.S. equity REIT average AFFO payout ratios

As of Jan. 3, 2019.
Source: S&P Global Market Intelligence

As of Jan. 3, publicly traded U.S. Equity REITs had an average AFFO payout ratio estimate of 77.9 percent. Among the sectors, Health Care REITs had the highest average AFFO payout ratio estimate for 2019, at 88.3 percent. The Diversified and Shopping Center sectors followed at 85.7 percent and 85.4 percent, respectively. On the other hand, Manufactured Home REITs had the lowest average AFFO payout ratio estimate, at 70.4 percent.

The multifamily REIT sector had a 79.1% current year AFFO payout ratio estimate as of January 3.

Among the Multifamily REITs, BRT Apartments Corp. was on top of the list with a 129 percent AFFO payout ratio estimate. Following next was Independence Realty Trust Inc. with a 101.8 percent AFFO payout ratio estimate.NexPoint Residential Trust was at the bottom of the list with a 53.4 percent AFFO payout ratio estimate.

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

—Posted on Jan. 11, 2019