{"slug":"reit-payout-ratio-ffo-vs-eps","qid":"reit_vs_market_payout","label":"Dividend as a percent of EPS: large equity REITs against every other US dividend payer","post_title":"REIT Payout Ratio: FFO vs EPS Explained","post_url":"/blog/reit-payout-ratio-ffo-vs-eps#q-reit_vs_market_payout","columns":["category","company_count","median_eps_payout_pct","pct_paying_over_earnings"],"rows":[{"category":"All other dividend payers","company_count":1138,"median_eps_payout_pct":35.8,"pct_paying_over_earnings":15.6},{"category":"Equity REITs","company_count":11,"median_eps_payout_pct":126.4,"pct_paying_over_earnings":81.8}],"shape":"ranking","sql":"SELECT multiIf(ticker IN ('O','SPG','PLD','PSA','AVB','EQR','VTR','WELL','KIM','FRT','NNN','MAA','ARE','IRM'),\n               'Equity REITs',\n               'All other dividend payers') AS category,\n       count() AS company_count,\n       round(quantileDeterministic(0.5)(toFloat64(dividend_yield * price / earnings_per_share) * 100,\n                                        cityHash64(ticker)), 1) AS median_eps_payout_pct,\n       round(100 * countIf(dividend_yield * price > earnings_per_share) / count(), 1) AS pct_paying_over_earnings\nFROM global_markets.stocks_ratios\nWHERE date = (SELECT max(date) FROM global_markets.stocks_ratios)\n  AND price >= 5\n  AND market_cap >= 1000000000\n  AND dividend_yield > 0\n  AND earnings_per_share > 0\nGROUP BY category\nORDER BY category","computed_at":"2026-08-22T04:18:30.900126+00:00","elapsed":0.023558047}