2025 Commercial REIT Results
S&P’s latest report on REIT performance. Read the report.
As of Oct. 3, publicly traded U.S. equity REITs had an average 2025Q3 AFFO payout ratio estimate of 74.3 percent.
Among these sectors, industrial REITs had the highest average AFFO payout ratio estimate for the third quarter of 2025 at 80.2 percent. The office sector had the lowest average AFFO payout ratio estimate of 61 percent.
Hamdia Bukhari is a senior associate in the real estate client operations department of S&P Global Market Intelligence.
If you are interested in learning more about the products and services available within S&P Global Real Estate data, please visit us here.
—Posted on October 29, 2025
As of May 2025, publicly traded U.S. equity REITs had an average 2025Q1 AFFO payout ratio estimate of 80.5 percent.
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 at 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 in learning more about the products and services available within S&P Global Real Estate data, please visit us here.
—Posted on May 30, 2025
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