2025 REIT Values
S&P Global Intelligence’s latest snapshot of REIT performance. Read the report.
As of June 6, 2025, the self storage 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 28.28x LTM FFO multiple, outperforming the Dow Jones equity all REIT index by 9.07 percentage points.
The healthcare and manufactured homes REIT sectors followed with price to LTM FFO multiples of 28.21x and 20.01x, respectively. The broader equity all REIT index second to last with a 19.21x price to LTM FFO multiple while the U.S. Apartments REIT sector ranked last with a 18.54x price to LTM FFO multiple.
Among the REITs focused in the self storage sector SmartStop Self Storage REIT Inc. had the highest price to LTM FFO multiple of 27.4x.
Iman Niazi is an Assistant Manager for the Real Estate Client Operations department of S&P Global Market
—Posted on June 27, 2025
As of May 2025, the health care 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 27.98x LTM FFO multiple, outperforming the Dow Jones equity all REIT index by 17.98 percentage points.
The self storage and manufactured homes REIT sectors followed with price to LTM FFO multiples of 25.68x and 21.09x, respectively. The U.S. Apartment REIT sector ranked second to last with 19.71x with the broader equity all REIT index last with 19.00x.
Among the REITs focused in the self storage sector, SmartStop Self Storage REIT Inc. had the highest price to LTM FFO multiple of 26.3x.
Jerra Joy Agravio is a Senior Associate for the Real Estate Client Operations department of S&P Global Market. If you are interested tin learning more about the products and services available within S&P Global Real Estate data, please visit us here.
—Posted on May 29, 2025
