Market Analysis & Research

U.S. REITs raised $5.2 billion from debt and equity offerings in the fourth quarter of 2023; note that this total is preliminary and will be revised upward when ATM program usage data become available.

REITs Rebounded in the Fourth Quarter as Treasury Yields Declined

REITs supported an estimated 3.4 million fulltime equivalent (FTE) jobs in the U.S. in 2022, producing $263 billion in labor income.

The FTSE Nareit All Equity REITs Index rose 11.9% in November.

Nareit tracks quarterly investment holdings for the 27 largest actively managed real estate investment funds focusing on REIT investment for insight on expert investor sentiment.

Although many institutional investors focus their property investment strategies on private equity real estate, current and expected market conditions tend to favor public real estate.

According to the 2023 Hodes Weill/Cornell Real Estate Allocations Monitor, institutions consider REITs to be a complement to private real estate in terms of filling allocation needs and addressing liquidity objectives.

REIT debt remains well structured; operational performance shows year-over-year growth.

The FTSE Nareit All Equity REITs Index, broader markets, and treasuries responded positively as investors broadly believe the Federal Reserve’s cycle of monetary policy tightening to be over.