REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real

estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real

estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets.

REIT SECTORS

REIT Sectors. What's a REIT? REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. Most REITs focus on a particular

property type, but

REIT DATA | NAREIT

Industry data and research highlights the investment performance benefits and opportunities of REIT-based real estate investments to institutional and individual investors, financial advisers, policymakers and the media. Nareit provides a range of stock performance data for both domestic and global REITs as well as a series of industry performance measures tracked daily,

HOW TO FORM REIT?

Companies owning or financing real estate must meet a number of organizational, operational, distribution and compliance requirements to qualify as a real estate investment trust (REIT). These rules govern issues such as dividend distributions and the composition of a

company's assets.

SPECIALTY REITS

Specialty REITs own and manage a unique mix of property types and collect rent from tenants. Specialty REITs own properties that don’t fit within the other REIT sectors. Examples of properties owned by specialty REITs include movie theaters, casinos, farmland and

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

GLOBAL REAL ESTATE INVESTMENT Forty countries and regions have adopted the U.S.-based REIT approach to real estate investment offering all investors access to portfolios of income producing real estate across the globe. Mutual funds and exchange-traded funds offer the easiest and most efficient way for investors to add global listed real estate allocations to portfolios. REITS DURING THE PANDEMIC: PERFORMANCE AT THE 15 MONTH REIT stock market performance has continued to rebound from the declines during the shutdowns in the early months of the pandemic. REIT total returns at the one year mark had remained more than 8% below the pre-pandemic high.As of May 21, which marks 15 months since the market peak prior to the pandemic, REIT total returns have fully recovered from the initial losses in early 2020. GUIDE TO MORTGAGE REIT (MREIT) INVESTING Mortgage REITs (mREITS) provide financing for income-producing real estate by purchasing or originating mortgages and mortgage-backed securities (MBS) and earning income from the interest on these investments. mREITs help provide essential liquidity for the real estate market. mREITs invest in residential and commercial mortgages,

as well as

REAL-TIME INDEX RETURNS The REIT-focused FTSE Nareit U.S. Real Estate Index Series tracks the performance of the U.S. REIT industry at both an industry-wide level and on a sector-by-sector basis. The FTSE EPRA/Nareit Global Real Estate Index represents the performance of real estate equities worldwide. The performance of both indexes are reported on a real-time

basis.

2021 MIDYEAR OUTLOOK FOR REITS AND COMMERCIAL REAL ESTATE The U.S. economy is growing again after large parts of the country had been shut down for much of 2020. Real GDP rose at a 6.4% annual rate in the first quarter, and economists surveyed by the Wall Street Journal expect growth for the full year 2021 to match this 6.4% pace. REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real

estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real

estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets.

REIT SECTORS

REIT Sectors. What's a REIT? REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. Most REITs focus on a particular

property type, but

REIT DATA | NAREIT

Industry data and research highlights the investment performance benefits and opportunities of REIT-based real estate investments to institutional and individual investors, financial advisers, policymakers and the media. Nareit provides a range of stock performance data for both domestic and global REITs as well as a series of industry performance measures tracked daily,

SPECIALTY REITS

Specialty REITs own and manage a unique mix of property types and collect rent from tenants. Specialty REITs own properties that don’t fit within the other REIT sectors. Examples of properties owned by specialty REITs include movie theaters, casinos, farmland and

HOW TO FORM REIT?

Companies owning or financing real estate must meet a number of organizational, operational, distribution and compliance requirements to qualify as a real estate investment trust (REIT). These rules govern issues such as dividend distributions and the composition of a

company's assets.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

GLOBAL REAL ESTATE INVESTMENT Forty countries and regions have adopted the U.S.-based REIT approach to real estate investment offering all investors access to portfolios of income producing real estate across the globe. Mutual funds and exchange-traded funds offer the easiest and most efficient way for investors to add global listed real estate allocations to portfolios. REITS DURING THE PANDEMIC: PERFORMANCE AT THE 15 MONTH REIT stock market performance has continued to rebound from the declines during the shutdowns in the early months of the pandemic. REIT total returns at the one year mark had remained more than 8% below the pre-pandemic high.As of May 21, which marks 15 months since the market peak prior to the pandemic, REIT total returns have fully recovered from the initial losses in early 2020. GUIDE TO MORTGAGE REIT (MREIT) INVESTING Mortgage REITs (mREITS) provide financing for income-producing real estate by purchasing or originating mortgages and mortgage-backed securities (MBS) and earning income from the interest on these investments. mREITs help provide essential liquidity for the real estate market. mREITs invest in residential and commercial mortgages,

as well as

REAL-TIME INDEX RETURNS The REIT-focused FTSE Nareit U.S. Real Estate Index Series tracks the performance of the U.S. REIT industry at both an industry-wide level and on a sector-by-sector basis. The FTSE EPRA/Nareit Global Real Estate Index represents the performance of real estate equities worldwide. The performance of both indexes are reported on a real-time

basis.

REITS ROSE LAST WEEK AS ALL SECTORS INCREASED About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

1 day ago · March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. REITS AND INTEREST RATES Rising interest rates and expectations of future changes in monetary policy have at times impacted the share prices of stock exchange-listed equity REITs. However, increases in interest rates often are driven by economic growth that may support the growth of REIT earnings and dividends in the future. Research shows that REITs have often outperformed the S&P 500 in periods of rising GUIDE TO PRIVATE REIT INVESTING Private REITs generally can be sold only to institutional investors, such as large pension funds, and/or to “ Accredited Investors ” generally defined as individuals with a net worth of at least $1 million (excluding primary residence) or with income exceeding $200,000 over two prior two years ($300,000 with a spouse). Shares are

not traded

ABOUT NAREIT

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those

businesses.

NAREIT EVENTS

1 day ago · March 23 — 25, 2022. Nareit's REITwise: 2022 Law, Accounting & Finance Conference ® provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial, tax and accounting operations within REITs and publicly traded real estate companies.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REIT MAGAZINE

KKR Real Estate Finance Trust Stays Resilient Through Pandemic. KKR Real Estate Finance Trust Inc. (NYSE: KREF) has assembled a loan portfolio during the past few years that is matched to a conservative set of liabilities—a strategy that has held up well during recent market volatility fueled by the COVID-19 pandemic. Names to Note. NAREIT T-TRACKER®: QUARTERLY OPERATING PERFORMANCE SERIES Net operating income (NOI) totaled $23.9 billion, 5.4% higher than the prior quarter and 0.3% above one year earlier. Dividends paid by equity REITs totaled $11.2 billion, and dividends paid by mREITs totaled $1.6 billion. The $12.9 billion overall dividends paid was 18.0% lower than in the first quarter of 2020. U.S. REIT INDUSTRY EQUITY MARKET CAP About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. FORMER HIGHWOODS CEO ED FRITSCH LOOKS BACK ON THREE-PLUS The latest edition of the Nareit REIT Report podcast featured an interview with Ed Fritsch, who stepped down as CEO of Highwoods Properties (NYSE: HIW) on Sept. 1 following a career of more than 30 years at the Raleigh, North Carolina-based office REIT. Fritsch joined Highwoods in 1982 at the age of 23 and was a partner in the

predecessor firm

ARBOR REALTY TRUST, INC. Arbor Realty Trust, Inc. is a nationwide REIT and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets.

REIT SECTORS

REIT Sectors. What's a REIT? REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. Most REITs focus on a particular

property type, but

REIT DATA | NAREIT

Industry data and research highlights the investment performance benefits and opportunities of REIT-based real estate investments to institutional and individual investors, financial advisers, policymakers and the media. Nareit provides a range of stock performance data for both domestic and global REITs as well as a series of industry performance measures tracked daily,

SPECIALTY REITS

Specialty REITs own and manage a unique mix of property types and collect rent from tenants. Specialty REITs own properties that don’t fit within the other REIT sectors. Examples of properties owned by specialty REITs include movie theaters, casinos, farmland and

HOW TO FORM REIT?

Companies owning or financing real estate must meet a number of organizational, operational, distribution and compliance requirements to qualify as a real estate investment trust (REIT). These rules govern issues such as dividend distributions and the composition of a

company's assets.

2021 REIT OUTLOOK

Nareit Research. Commercial real estate and REITs are likely to begin to recover in 2021, with the pace of improvement driven by the availability and effectiveness of a vaccine. REITs, CRE markets, and the economy as a whole are bolstered by the solid fundamentals that were in place when the pandemic hit, in sharp contrast to prior

recessions.

REITS DURING THE PANDEMIC: PERFORMANCE AT THE 15 MONTH REIT stock market performance has continued to rebound from the declines during the shutdowns in the early months of the pandemic. REIT total returns at the one year mark had remained more than 8% below the pre-pandemic high.As of May 21, which marks 15 months since the market peak prior to the pandemic, REIT total returns have fully recovered from the initial losses in early 2020. GLOBAL REAL ESTATE INVESTMENT Forty countries and regions have adopted the U.S.-based REIT approach to real estate investment offering all investors access to portfolios of income producing real estate across the globe. Mutual funds and exchange-traded funds offer the easiest and most efficient way for investors to add global listed real estate allocations to portfolios. GUIDE TO MORTGAGE REIT (MREIT) INVESTING Mortgage REITs (mREITS) provide financing for income-producing real estate by purchasing or originating mortgages and mortgage-backed securities (MBS) and earning income from the interest on these investments. mREITs help provide essential liquidity for the real estate market. mREITs invest in residential and commercial mortgages,

as well as

REAL-TIME INDEX RETURNS The REIT-focused FTSE Nareit U.S. Real Estate Index Series tracks the performance of the U.S. REIT industry at both an industry-wide level and on a sector-by-sector basis. The FTSE EPRA/Nareit Global Real Estate Index represents the performance of real estate equities worldwide. The performance of both indexes are reported on a real-time

basis.

REITS ROSE LAST WEEK AS ALL SECTORS INCREASED About Nareit. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. Skip to main content Accessibility statement Username or e-mail address

Password

* Reset your password * Create new account * Reset your password

Filter by Type

Company Page

Event

News

Tax Report

* Join Nareit

* Login

*

MAIN NAVIGATION

* What's a REIT? Open submenu

* What's a REIT?

* REIT Basics

* Types of REITs

* REIT Sectors

* REIT Glossary

* REIT FAQs

* The History of REITs * How to Form a REIT Explore REIT Sectors REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels.

Learn more

* Investing in REITs Open submenu * Investing in REITs * Why Invest in REITs * How to Invest in REITs

* REIT Directory

* List of REIT Funds * ESG (Sustainability) * REIT Assets by State * Global Real Estate * Investor Resources

REIT Directory

Search the REIT directory to learn more about individual companies. Find company performance data, corporate information, and recent

news.

Search the directory * REIT Data Open submenu

* REIT Data

* REIT Indexes

* REIT Market Data

* Research Library

Year-End Tax Reporting Data Historical tax reporting information for each Nareit member.

Learn more

* Industry News Open submenu

* Industry News

* Publications

* REIT Magazine

* Advertising

* Media Contacts

REIT Magazine

The March/April issue of REIT magazine features a profile of JBG SMITH CEO Matt Kelly, insights about how REITs are assessing climate risk across their portfolios, a look at affordable housing, and much more. Read the latest issue * Events Open submenu

* Events

* CEO Forum & Advocacy Day

* ESG Workshop

* REITweek

* REITwise

* REITworks

* REITworld

* REIT IR Symposium

REITweek: 2021 Investor Conference Nareit’s REITweek will take place virtually on June 8-10. REITweek is the largest annual REIT industry investor conference, bringing together more than 3,000 investors, REIT executives, and industry professionals each year.

Learn more

* About Nareit Open submenu

* About Nareit

* Leadership Team

* Membership

* Nareit Brand

* Advocacy

* Industry Awards

* Career Center

Nareit Membership

For 60 years, Nareit has led the U.S. REIT industry by ensuring its members’ best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking.

Learn more

REITS: REAL ESTATE WORKING FOR YOU Nareit is the worldwide representative voice for REITs and listed real estate companies with an interest in U.S. real estate and capital

markets.

Learn more about Nareit

NEW TO REITS?

REITs are companies that own or finance income-producing real estate in a range of property sectors.

What's a REIT?

INVESTING IN REITS

Most REITs trade on major stock exchanges, offering a number of benefits to all types of investors.

How to invest

0.07

All REITs

0.05

All Equity REITs

0.43

Mortgage REITs

Data as of 4:30 p.m. on Jun 4, 2021. Source: FTSE Nareit U.S. Real Estate Index.

REIT PERFORMANCE

REITs historically have delivered competitive total returns, based on high, steady dividend income, and long-term capital appreciation. The FTSE Nareit U.S. Real Estate Index Series is a comprehensive family of REIT performance benchmarks that span the commercial real estate space across the U.S. economy.

View all indexes

BY THE NUMBERS

REITs of all types collectively own more than $3 trillion in gross real estate assets across the U.S., with stock-exchange listed REITs owning approximately $2 trillion in assets. U.S. listed REITs have an equity market capitalization of more than $1 trillion. REITs by the numbers

Previous

2.7M

Mortgage REITs help finance 2.7 million homes in the U.S.

516K

REITs own more than 516,000 real estate assets across the U.S.

2.4M

U.S. REITs contributed the equivalent of an estimated 2.6 million full-time jobs to the economy in 2019.

145M

An estimated 145 million Americans own REITs through their retirement savings and other investment funds.

2.7M

Mortgage REITs help finance 2.7 million homes in the U.S.

516K

REITs own more than 516,000 real estate assets across the U.S.

2.4M

U.S. REITs contributed the equivalent of an estimated 2.6 million full-time jobs to the economy in 2019.

145M

An estimated 145 million Americans own REITs through their retirement savings and other investment funds.

2.7M

Mortgage REITs help finance 2.7 million homes in the U.S.

516K

REITs own more than 516,000 real estate assets across the U.S.

2.4M

U.S. REITs contributed the equivalent of an estimated 2.6 million full-time jobs to the economy in 2019.

Next

REITWEEK: 2021 INVESTOR CONFERENCE Nareit’s REITweek: 2021 Investor Conference will take place virtually on June 8-10. REITweek is the largest annual REIT industry investor conference, bringing together more than 3,000 investors, REIT executives, and industry professionals each year.

View all events

Featured News

VIDEO

ROBERT L. JOHNSON SAYS COMPANIES NEED SHARED GOALS, PURPOSE, AND

CULTURE TO SUCCEED

Johnson says companies with good cultures are accepting of peoples’

differences.

06/02/2021

Market Commentary

REITS DURING THE PANDEMIC: PERFORMANCE AT THE 15 MONTH MARK As of May 21, which marks 15 months since the market peak prior to the pandemic, REIT total returns have fully recovered from the initial losses in early 2020.

05/27/2021

Market Commentary

HOW REITS PROVIDE PROTECTION AGAINST INFLATION Real estate rents and values tend to increase when prices do, due in part to the fact that many leases are tied to inflation. This supports REIT dividend growth and provides a reliable stream of income even during inflationary periods.

05/17/2021

GET DAILY REAL ESTATE NEWS

* Facebook

* LinkedIn

* Twitter

* YouTube

* RSS Feed

�Copyright Nareit 2021. All rights reserved.

1875 | STREET, NW

SUITE 500

WASHINGTON, D.C. 20006

1-202-739-9400

1-800-3-NAREIT

1-202-739-9401 (fax)

FOOTER LINKS

* Search

* RSS feeds

* Privacy

* Cookie Policy

* Terms of Use

* Contact Us

Nareit® is the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. National Association of Real Estate Investment Trusts® and Nareit® are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). THIS WEBSITE USES COOKIES TO ENHANCE CONTENT, ANALYZE TRAFFIC AND SERVE ADVERTISING, ENSURING YOU GET THE BEST EXPERIENCE ON OUR

WEBSITE.

By continuing to use our site you are agreeing to our cookie policy

.

I accept No, thanks