- The real estate investment trusts in the U.S. reported a Y/Y decline in their Q2 capital raising activity, largely due to decline of secondary debt and preferred stock offerings, according to a report by the National Association of Real Estate Investment Trusts.
- The REITs raised $13.6B in Q2, compared to $27.5B in Q2 2021. Our of the total $13.6B, $7.0B came from secondary common equity, $320M was from secondary debt offerings and $6.3B came from at-the-market offerings.
- The decline reflects REITs avoiding the need to issue equity at unfavorable valuations or refinance debt during a period of high-rates and widened spreads, Nareit said.
- A total of five deals to acquire public-listed U.S. REITs were announced in Q2, representing a total deal value of $50.4B.
- Four of these five deals represented acquisitions by other publicly traded U.S. REITs.
For further details see:
US REITs raise lesser capital in Q2 on decline of secondary debt, preferred stock offerings