trending Market Intelligence /marketintelligence/en/news-insights/trending/w_plszzjjnbiq0m4y3-jcq2 content esgSubNav
In This List

US REIT at-the-market offering activity down 56.4% YOY in Q1

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


US REIT at-the-market offering activity down 56.4% YOY in Q1

U.S. equity real estate investment trusts raised $375.4 million through at-the-market offerings in the first quarter, a 56.4% decline from the $860.9 million raised in the first quarter of 2017 and an 82.6% decrease from the $2.16 billion raised in the fourth quarter of 2017.

Seventeen REITs used their ATM programs in the first quarter, compared to 30 REITs in the year-ago quarter and 36 REITs using ATM programs in the 2017 fourth quarter.

SNL Image

Data center REIT CyrusOne Inc. raised the most capital through ATM offerings during the quarter, at $144.7 million. Diversified REIT STORE Capital Corp. followed, with $100.8 million raised through ATM offerings.

Seventeen REITs announced new at-the-market programs year-to-date as of May 30, representing $6.62 billion in total capacity.

SNL Image

Multifamily REIT AvalonBay Communities Inc. announced its new $1 billion ATM program Feb. 23, the largest program announced year-to-date. Communications REIT Crown Castle International Corp. announced the second-largest program April 6 at $750 million in total capacity.

Thirty-four sales agents were involved in ATM programs announced year-to-date. Merrill Lynch Pierce Fenner & Smith Inc. and Wells Fargo Securities tied for the top spot, each working on nine deals.

SNL Image

Did you enjoy this analysis? Click here to set email alerts for future real estate Data Dispatch articles.

Click here to view these charts in Excel format. For additional capital markets research, try S&P Global Market Intelligence's Global Real Estate Capital Offerings Activity Excel template from the Template Library.