{"slug":"payout-ratio-over-100-percent","qid":"reit_denominator","label":"reit_denominator","post_title":"payout-ratio-over-100-percent","post_url":"/blog/payout-ratio-over-100-percent#q-reit_denominator","columns":["date","quarter_label","eps_payout_pct","ffo_proxy_payout_pct"],"rows":[{"date":"2024-03-31","quarter_label":"Mar 2024","eps_payout_pct":479,"ffo_proxy_payout_pct":90},{"date":"2024-06-30","quarter_label":"Jun 2024","eps_payout_pct":261,"ffo_proxy_payout_pct":79},{"date":"2024-09-30","quarter_label":"Sep 2024","eps_payout_pct":255,"ffo_proxy_payout_pct":79},{"date":"2024-12-31","quarter_label":"Dec 2024","eps_payout_pct":345,"ffo_proxy_payout_pct":86},{"date":"2025-03-31","quarter_label":"Mar 2025","eps_payout_pct":284,"ffo_proxy_payout_pct":83},{"date":"2025-06-30","quarter_label":"Jun 2025","eps_payout_pct":367,"ffo_proxy_payout_pct":86},{"date":"2025-09-30","quarter_label":"Sep 2025","eps_payout_pct":233,"ffo_proxy_payout_pct":78},{"date":"2025-12-31","quarter_label":"Dec 2025","eps_payout_pct":248,"ffo_proxy_payout_pct":80}],"shape":"series","sql":"SELECT\n    toString(period_end)                 AS date,\n    formatDateTime(period_end, '%b %Y')  AS quarter_label,\n    round(100 * abs(toFloat64(dividends_q)) / toFloat64(net_income_q), 0) AS eps_payout_pct,\n    round(100 * abs(toFloat64(dividends_q)) / (toFloat64(net_income_q) + toFloat64(dep_amort_q)), 0) AS ffo_proxy_payout_pct\nFROM\n(\n    SELECT\n        period_end,\n        argMax(net_income, (filing_date, _ingest_time))                              AS net_income_q,\n        argMax(depreciation_depletion_and_amortization, (filing_date, _ingest_time)) AS dep_amort_q,\n        argMax(dividends, (filing_date, _ingest_time))                               AS dividends_q\n    FROM global_markets.stocks_cash_flow_statements\n    WHERE has(tickers, 'O')\n      AND timeframe = 'quarterly'\n      AND period_end >= '2024-01-01'\n      AND period_end <= '2025-12-31'\n    GROUP BY period_end\n    HAVING net_income_q > 0 AND dep_amort_q > 0\n)\nORDER BY period_end","computed_at":"2026-10-02T14:58:43.261056+00:00","elapsed":0.004191536}