2023 Multifamily REIT Values
Apartment REITs had an average of 15.31x price to LTM FFO multiple as of Nov. 2.
As of Nov. 2, 2023
Source: S&P Global Market Intelligence
As of Nov. 2, 2023, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the last 12 months funds from operations multiple. The sector posted a 20.62x LTM FFO multiple, outperforming the Dow Jones equity all REIT index by 5.53 percentage points. The health care and self storage REIT sectors followed with price to LTM FFO multiples of 19.99x and 16.57x, respectively. The U.S. apartment REIT sector ranked second to last with a 15.31x price to LTM FFO multiple while the broader equity all REIT index ranked last with a 15.09x price to LTM FFO multiple.
Among the REITs focused in the manufactured homes sector, Equity LifeStyle Properties, Inc.had the highest price to LTM FFO multiple of 24.5x.
The apartment REIT sector had an average of 15.31x price to LTM FFO multiple as of November 2, 2023.
Among the apartment REITs, AvalonBay Communities, Inc. was on top of the list with a 16.4x price to LTM FFO multiple. Followed by Elme Communities with a 15.4x price to LTM FFO multiple.
Independence Realty Trust, Inc. was at the bottom of the list with a 11.2x price to LTM FFO multiple.
Jerra Joy Agravio is an Associate in the Real Estate Client Operations Department of S&P Global Market Intelligence
If you are interested to learn more about the products and services available within S&P Global Real Estate data, please visit us here: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on Nov. 30, 2023
SNL US REIT INDEX PRICE/LTM FFO (X)
As of Jun. 1, 2023
Source: S&P Global Market Intelligence
As of June 2, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the last twelve months funds from operations multiple. The sector posted a 21.17x LTM FFO multiple, outperforming the Dow Jones equity all REIT index by 5.96 percentage points. The apartments and self-storage REIT sectors followed with price to LTM FFO multiples of 17.89x and 17.57x, respectively. The broader equity all REIT index last with a 15.21x price to LTM FFO multiple while the U.S. health care REIT sector ranked second to last with a 17.40x price to LTM FFO multiple.
Among the REITs focused in the manufactured homes sector, UMH Properties, Inc. had the highest price to LTM FFO multiple of 28.4x.
The apartment REIT sector had an average of 17.89x price to LTM FFO multiple as of June 1, 2023.
Among the Multifamily REITs, Elme Communities.was on top of the list with a 20.6x price to LTM FFO multiple. Followed by Veris Residential, Inc. with a 20.2x price to LTM FFO multiple.
Centerspace was at the bottom of the list with a 14.0x price to LTM FFO multiple.
Iman Niazi is a Senior Associate for the Real Estate Client Operations department of S&P Global Market
If you are interested to learn more about the products and services available within S&P Global Real Estate data, please visit us here: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on Jun. 26, 2023
SNL US REIT INDEX PRICE/LTM FFO (X)
As of May 31, 2023
Source: S&P Global Market Intelligence
The apartment REIT sector had an average of 17.98x price to LTM FFO multiple as of May 2, 2023.
Among the apartment REITs, Veris Residential, Inc. was on top of the list with a 20.2x price to LTM FFO multiple. Followed by UDR, Inc. with a 17.9x price to LTM FFO multiple.
Apartment Income REIT Corp. was at the bottom of the list with a 15.9x price to LTM FFO multiple.
As of May 2, 2023, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the last twelve months funds from operations multiple. The sector posted a 22.31x LTM FFO multiple, outperforming the Dow Jones equity all REIT index by 7.29 percentage points. The self-storage and apartments REITÂ sectors followed with price to LTM FFO multiples of 18.12x and 17.98x, respectively. The U.S. health care REIT sector ranked second to the last with a 17.90x price to LTM FFO multiple while the broader equity all REIT index ranked last with a 15.02x price to LTM FFO multiple.
Among the REITs focused in the manufactured homes sector, UMH Properties, Inc. had the highest price to LTM FFO multiple of 29.5x.
Saima Yasmin is an Associate in the Real Estate Client Operations Department of S&P Global Market Intelligence
If you are interested to learn more about the products and services available within S&P Global Real Estate data, please visit us here: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on May 31, 2023
SNL US REIT INDEX PRICE/LTM FFO (X)
As of Jan. 11, 2023
Source: S&P Global Market Intelligence
The apartment REIT sector had an average of 18.65x price to LTM FFO multiple as of Jan. 11, 2023.
Among the apartment REITs, Elme Communities was on top of the list with a 27.8x price to LTM FFO multiple followed by Independence Realty Trust Inc. with a 24.9x price to LTM FFO multiple.
NexPoint Residential Trust Inc. was at the bottom of the list with a 13.5x price to LTM FFO multiple.
Saima Yasmin is an associate in the Real Estate Client Operations Department of S&P Global Market Intelligence.
—Posted on Jan. 30, 2023
