More than 60% of U.S. equity REITs reported year-over-year increases in Q4 funds from operations (FFO), according to Nareit's latest T-Tracker report.
Aggregate FFO rose 11.35% to $20.87 billion, up from $18.74 billion a year ago, while average FFO per share increased to $0.81 from $0.75.
About two-thirds of REITs also posted growth in net operating income (NOI), which climbed 5.46% to $29.77 billion.
Healthcare REITs led the charge, with senior housing fundamentals strengthening and tenant issues improving across the sector, according to Hoya Capital. Notable earnings beats came from:
- Medical Properties Trust (MPW, Financial)
- Welltower (WELL, Financial)
- National Health Investors (NHI, Financial)
- Ventas (VTR, Financial)
- American Healthcare REIT (AHR, Financial)
- Global Medical REIT (GMRE, Financial)
Other top performers included W. P. Carey (WPC, Financial), CBL & Associates Properties (CBL, Financial), and Regency Centers (REG, Financial).
Meanwhile, Q4 occupancy rates dipped slightly to 93.31% from 93.44% year-over-year.
