CHARLOTTESVILLE, VA-US equity REITs raised $41.09 billion year-to-date through September 28, according to SNL. That is $7.54 billion more than was raised in the same period in 2011. REIT’s stock market performance is also trending well for the year, according to separate statistics from NAREIT. However the September numbers were a bit of a disappointment and they followed lackluster performance in August.

REITs have been on a capital-raising roll this year, as SNL figures have shown. As of Sept. 28, common equity deals accounted for $18.09 billion of gross capital offerings, senior debt totaled $14.95 billion and preferred equity totaled $8.06 billion. In the prior-year period, common equity offerings totaled $19.65 billion, senior debt reached $10.3 billion and preferred equity accounted for $3.56 billion. By sector, health care REITs have raised the most capital as of Sept. 28, SNL says, with $9.59 billion. Retail ranked number two, with $8.61 billion.

REITs’ stock performance for September was less robust, meanwhile—and followed an underperforming month for August as well. NAREIT notes that REITs lagged behind the broader stock market in September and were down 0.89%, while the S&P was up 2.58%. The FTSE NAREIT US Real Estate Index showed that equity REITs were down 1.23% and all REITs were down by 0.89%.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.