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 2026-09-20, from REIT Payout Ratio: FFO vs EPS Explained.
| year | reits_compared | raised | lowered | unchanged |
|---|---|---|---|---|
| 2017 | 10 | 9 | 0 | 1 |
| 2018 | 10 | 9 | 0 | 1 |
| 2019 | 10 | 9 | 0 | 1 |
| 2020 | 10 | 7 | 2 | 1 |
| 2021 | 10 | 6 | 0 | 4 |
| 2022 | 10 | 7 | 0 | 3 |
| 2023 | 12 | 10 | 0 | 2 |
| 2024 | 14 | 12 | 0 | 2 |
| 2025 | 14 | 12 | 1 | 1 |
- Rows × columns
- 9 × 5
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
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.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
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