Apartment REITs
The $4-5 trillion US multifamily apartment market is highly fragmented, with REITs owning roughly 500,000 of the estimated 25 million multifamily rental units across the US, which is roughly 2% of the existing rental apartment stock.
Multifamily rentals comprise roughly 15% of the total housing stock in the US - in aggregate valued at $30 trillion - but have accounted for a greater share of new home construction activity in the post-recession period.
| Ticker Symbol | Company Name | Property Sector | Market Cap ($B) | Dividend Yield | Payout Frequency | Price-to-FFO | Debt Ratio | Short Interest | |
|---|---|---|---|---|---|---|---|---|---|
| AVB | AvalonBay |  | Apartment | 24.85 | 3.77% | Quarter | 16.5 | 28% | 1.7% |
| EQR | Equity Residential |  | Apartment | 22.13 | 4.55% | Quarter | 15.5 | 25% | 1.6% |
| MAA | Mid-America |  | Apartment | 14.83 | 4.40% | Quarter | 13.9 | 20% | 2.7% |
| ESS | Essex Property |  | Apartment | 14.36 | 4.13% | Quarter | 14.9 | 30% | 2.0% |
| UDR | UDR, Inc |  | Apartment | 11.40 | 4.85% | Quarter | 14.0 | 29% | 1.4% |
| CPT | Camden Property |  | Apartment | 9.97 | 4.28% | Quarter | 13.7 | 23% | 1.7% |
| AIRC | Apartment Income |  | Apartment | 4.74 | 5.58% | Quarter | 13.4 | 40% | 1.2% |
| IRT | Independence Realty |  | Apartment | 3.18 | 5.08% | Quarter | 12.3 | 40% | 3.5% |
| VRE | Veris Residential |  | Apartmet | 1.36 | 1.36% | Quarter | 28.4 | 48% | 3.4% |
| ELME | Elme Communities |  | Apartment | 1.18 | 5.34% | Quarter | 14.2 | 26% | 1.7% |
| AIV | Aimco |  | Apartment | 1.04 | 0.00% | Irreg | 14.5 | 52% | 2.4% |
| NXRT | NexPoint Residential |  | Apartment | 0.82 | 5.79% | Quarter | 11.3 | 59% | 2.1% |
| CSR | Centerspace |  | Apartment | 0.81 | 5.40% | Quarter | 12.0 | 46% | 1.6% |
| BRT | BRT Apartments |  | Apartment | 0.35 | 5.32% | Quarter | 16.6 | 58% | 1.1% |
