Nonlisted REITs ranked by 2Q invested assets
Closed REITs
| Company | 2Q invested assets ($M) | Original share price | Current share value1 | Original distribution rate | Current distribution rate | 2Q14 FFO 2 payout ratio |
|---|---|---|---|---|---|---|
| Inland American Real Estate Trust | $10,128.5 | $10 | $6.94 | 6.20% | 5.00% | 75% |
| Corporate Property Associates 17 Global | $4,564.7 | $10 | $9.50 | 6.50% | 6.50% | 81% |
| Apple Hospitality | $3,960.0 | $11 | $10.10 | 8.00% | 7.25% | 83% |
| Industrial Income Trust | $3,747.6 | $10 | $10.40 | 6.00% | 6.00% | 100% |
| Tier REIT | $3,455.8 | $10 | $4.20 | 7.00% | 0.00% | N/A |
| CNL Lifestyle Properties | $3,343.4 | $10 | $6.85 | 6.25% | 4.25% | 108% |
| Griffin-American Healthcare REIT II | $3,056.2 | $10 | $10.22 | 6.50% | 6.65% | 143% |
| Monogram Residential Trust | $2,879.1 | $10 | $10.03 | 7.00% | 3.50% | 189% |
| Cole Credit Property Trust IV | $2,833.0 | $10 | $10.00 | 6.25% | 6.25% | 145% |
| KBS Real Estate Investment Trust II | $2,714.1 | $10 | $10.29 | 6.50% | 6.50% | 98% |
| Cole Corporate Income Trust | $2,606.3 | $10 | $10.00 | 6.50% | 6.50% | 94% |
| Hines Real Estate Investment Trust | $2,422.1 | $10 | $6.40 | 6.00% | 2.90% | 88% |
| American Realty Capital Trust V | $2,233.5 | $25 | $25.00 | 6.60% | 6.60% | 86% |
| KBS Real Estate Investment Trust | $2,058.0 | $10 | $4.45 | 7.00% | 0.00% | N/A |
| Landmark Apartment Trust | $1,889.4 | $10 | $8.15 | 6.00% | 3.00% | 38% |
| Phillips Edison - ARC Shopping Center | $1,846.9 | $10 | $10.00 | 6.50% | 6.70% | 129% |
| Steadfast Income REIT | $1,592.7 | $10 | $10.24 | 7.00% | 7.00% | 165% |
| Strategic Storage Trust | $731.5 | $10 | $10.79 | 7.00% | 6.50% | 120% |
| Signature Office | $676.4 | $25 | $25.00 | 6.00% | 6.00% | 83% |
| Lightstone Value Plus REIT | $643.2 | $10 | $11.80 | 7.00% | 7.00% | 69% |
1 As of June 30 2 Funds from operations is based on NAREIT-defined funds from operations. N/A = not available. Source: MTS Research Advisors
Open REITs
| Company | 2Q equity raised ($M) | 2Q invested assets ($M) | Original share price | 2Q portfolio cap rate | Current distribution rate | 2Q14 FFO payout ratio * |
|---|---|---|---|---|---|---|
| ARC Global Trust | $1,036.5 | $809.1 | $10 | 7.94% | 7.10% | 241% |
| ARC Healthcare Trust II | $722.2 | $185.8 | $25 | 7.61% | 6.80% | 1826% |
| Carter Validus Mission Critical REIT | $670.9 | $1,431.7 | $10 | 7.83% | 7.00% | 188% |
| Corporate Property Associates 18 Global | $398.7 | $633.3 | $10 | 7.42% | 6.25% | 374% |
| Griffin Capital Essential Asset REIT | $297.0 | $1,759.9 | $10 | 7.55% | 6.75% | 132% |
| ARC - Retail Centers of America | $177.4 | $200.7 | $10 | 7.36% | 6.40% | 281% |
| Phillips Edison - ARC Grocery Center REIT II | $138.3 | $28.7 | $25 | 7.03% | 6.50% | N/A |
| NorthStar Healthcare Income | $134.2 | $274.9 | $10 | 6.82% | 6.75% | 659% |
| Carey Watermark Investors | $101.6 | $1,316.1 | $10 | N/A | 5.50% | 74% |
| KBS REIT III | $97.4 | $1,485.1 | $10 | 6.92% | 6.26% | 84% |
| CNL Healthcare Properties | $91.6 | $1,272.5 | $10 | 7.06% | 4.00% | 79% |
| ARC Realty Finance | $73.9 | $156.1 | $25 | N/A | 8.25% | 118% |
| Cole Office & Industrial REIT (CCIT II) | $68.6 | $214.9 | $10 | 6.78% | 6.30% | 125% |
| ARC New York City REIT | $63.1 | $7.3 | $25 | 6.65% | 6.00% | N/A |
| Apple REIT Ten | $56.7 | $958.5 | $11 | 9.86% | 7.50% | 78% |
| Hines Global REIT | $54.8 | $4,385.1 | $10 | 7.20% | 6.25% | 87% |
| Inland Real Estate Income Trust | $50.4 | $237.6 | $10 | 6.91% | 6.00% | 108% |
| Industrial Property Trust | $47.0 | $65.6 | $10 | 5.30% | 4.50% | 100% |
| NorthStar Real Estate Income II | $44.5 | $158.0 | $10 | N/A | 7.00% | 491% |
| Jones Lang LaSalle Income Property Trust | $26.1 | $944.1 | $10 | N/A | 4.26% | 57% |
*Funds from operations are based on NAREIT-defined funds from operations and adjusted for acquisition costs and expenses. N/A = not available. Source: MTS Research Advisors
Credit: RSS for Investments
