2025 Commercial REIT Results

As of May 2025, publicly traded U.S. equity REITs had an average 2025Q1 AFFO payout ratio estimate of 80.5 percent.

Among these sectors, industrial REITs had the highest average AFFO payout ratio estimate for the first quarter of 2025, at 86.3 percent. The office sector had the lowest average AFFO payout ratio estimate of 71.1 percent.

Jerra Joy Agravio is a Senior 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.

—Posted on May 30, 2025