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US REITs repurchase 190 million shares in 2017

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According to Market Intelligence, December 2022

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US REITs repurchase 190 million shares in 2017

Publicly traded U.S. real estate investment trusts repurchased roughly 190.3 million shares during 2017, with 31 REITs announcing new share repurchase programs or increases to existing plans.

CIM Commercial Trust repurchased 47.91% of its common shares outstanding in 2017, the largest percentage of any REIT. The diversified REIT repurchased more than 40.2 million common shares during the year at $22.00 apiece.

SL Green Realty Corp. repurchased 8.25%, or around 8.3 million, of its outstanding common shares in 2017 for an average price of $101.64 per share. The office REIT's board of directors also announced a $500 million increase to its share repurchase program on Dec. 1, 2017, bringing the total capacity to $1.5 billion.

Communications REIT American Tower Corp. announced the largest share repurchase program in 2017 on Dec. 7, 2017, with the board of directors authorizing the repurchase of up to $2 billion of its common stock.

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