After two consecutive quarters of double-digit growth, REIT earnings recovery slowed in first quarter 2021. According to the Nareit Total REIT Industry Tracker Series (T-Tracker) report, funds from operations (FFO) for all equity REITS rose 2 percent to $14.0 billion.
“Different parts of the economy are reopening at different speeds, and REIT performance by property sector reflects this variation,” said Calvin Schnure, Nareit senior economist. “The recovery is broadening with the vaccine rollout, however, and prospects for improvement have gone from ‘if’ to ‘when.’”
First quarter REIT earnings performance varied significantly by sector:
Digital economy sectors maintained their strong performances in first quarter of 2021.
Data centers saw a 15.8 percent rise in FFO to a record high of $1.1 billion.
FFO for industrial rose 15.7 percent to$1.5 billion, also a record high.
FFO of infrastructure REITs declined 11.3 perc
