2020 REIT Values
As of Sept. 30, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the funds from operations multiple for the last 12 months.
SNL US REIT Index Price/LTM FFO (x)
As of Sep. 30, 2020.
Source: S&P Global Market Intelligence
As of Sept. 30, 2020, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the funds from operations multiple for the last 12 months. Furthermore, the said sector posted a 29.73x LTM FFO multiple, outperforming the SNL US REIT Equity Index by 6.9 percentage points. The industrial and hotel REIT sectors followed with multiples of 27.12x and 26.28x, respectively. On the otherhand, the retail enclosed mall sector ranked last with a 6.22x price to LTM FFO.
Among the REITs focused on manufactured homes, Sun Communities Inc. had the highest price to last twelve months FFO multiple of 30.8x.
Lastly, Front Yard Residential Corp., a specialty REIT, had a 218.5x LTM FFO multiple, the highest among the publicly traded U.S. equity REITs.
SNL US REIT Index Price/LTM FFO [x]
As of Apr. 30, 2020.
Source: S&P Global Market Intelligence
As of April 30, 2020, the manufactured homes sector led all publicly traded U.S. equity REIT sectors in terms of the last 12 months funds from operations multiple. The sector posted a 28.85x LTM FFO multiple, outperforming the SNL US REIT Equity Index by 8.0 percentage points. The industrial and multifamily REIT sectors followed next with price to LTM FFO multiples of 25.42x and 17.92x, respectively. The regional mall sector ranked last with a 6.07x price to LTM FFO.
Among the REITs focused on manufactured homes, Sun Communities Inc. had the highest price to LTM FFO multiple of 29.6x.
Diana Rose Barrun is an associate for the real estate client operations department of S&P Global Market Intelligence.
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