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Year-end dividend rate against twelve months earlier: how many large REITs raised or lowered

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-22, from REIT Payout Ratio: FFO vs EPS Explained.

as of table 9×5read in context →
Year-end dividend rate against twelve months earlier: how many large REITs raised or lowered — 9 rows by 5 columns, computed from US exchange, SIP and OPRA data.
yearreits_comparedraisedloweredunchanged
201710901
201810901
201910901
202010721
202110604
202210703
2023121002
2024141202
2025141211
Rows × columns
9 × 5
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Year-end dividend rate against twelve months earlier: how many large REITs raised or lowered, derived from the stored result.
ColumnTypeRangeNotes
year number 2,017 to 2,025
reits_compared number 10 to 14
raised number 6 to 12
lowered number 0 to 2
unchanged number 1 to 4

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number
WITH yearly AS (
    SELECT ticker,
           toYear(ex_dividend_date) AS pay_year,
           argMax(toFloat64(cash_amount), ex_dividend_date) AS year_end_rate
    FROM global_markets.stocks_dividends
    WHERE ticker IN ('O','SPG','PLD','PSA','AVB','EQR','VTR','WELL','KIM','FRT','NNN','MAA','ARE','IRM')
      AND distribution_type = 'recurring'
      AND cash_amount > 0
      AND ex_dividend_date >= toDate('2016-01-01')
      AND ex_dividend_date < toDate('2026-01-01')
    GROUP BY ticker, pay_year
),
shifted AS (
    SELECT ticker AS prior_ticker,
           pay_year + 1 AS compare_year,
           year_end_rate AS prior_rate
    FROM yearly
)
SELECT cur.pay_year AS year,
       count() AS reits_compared,
       countIf(cur.year_end_rate > shifted.prior_rate * 1.005) AS raised,
       countIf(cur.year_end_rate < shifted.prior_rate * 0.995) AS lowered,
       countIf(cur.year_end_rate >= shifted.prior_rate * 0.995
               AND cur.year_end_rate <= shifted.prior_rate * 1.005) AS unchanged
FROM yearly AS cur
INNER JOIN shifted ON cur.ticker = shifted.prior_ticker AND cur.pay_year = shifted.compare_year
WHERE cur.pay_year >= 2017
GROUP BY year
ORDER BY year

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