Nontraded real estate investment trusts
Company 3Q equity raised ($M) 3Q invested assets ($M) Original share price 3Q portfolio cap rate Current distribution…
| Company | 3Q equity raised ($M) | 3Q invested assets ($M) | Original share price | 3Q portfolio cap rate | Current distribution rate | 3Q13 FFO payout ratio* |
|---|---|---|---|---|---|---|
| Cole Corporate Income Trust | $1,067.4 | $1,398.9 | $10 | 7.46% | 6.50% | 127% |
| Griffin-American Healthcare Trust II | $1,063.6 | $2,336.4 | $10 | 8.28% | 6.65% | 156% |
| American Realty Capital Trust V | $1,051.9 | $986.2 | $25 | 7.38% | 6.60% | 838% |
| Cole Credit Property Trust IV | $592.3 | $1,597.7 | $10 | 7.32% | 6.25% | 112% |
| Phillips Edison – ARC Shopping Center REIT | $522.4 | $855.3 | $10 | 7.65% | 6.70% | 145% |
| American Realty Capital N.Y. Recovery REIT | $473.7 | $789.5 | $10 | 7.12% | 6.05% | 141% |
| Industrial Income Trust | $233.2 | $3,637.0 | $10 | 6.61% | 6.00% | 106% |
| Carey Watermark Investors | $225.8 | $644.4 | $10 | N/A | 6.00% | 105% |
| Hines Global REIT | $212.2 | $3,496.2 | $10 | 7.47% | 6.32% | 86% |
| Carter Validus Mission Critical REIT | $150.3 | $686.0 | $10 | 7.95% | 7.00% | 97% |
| Steadfast Income REIT | $127.3 | $1,136.5 | $10 | 7.28% | 7.00% | 130% |
| KBS REIT III | $122.6 | $724.5 | $10 | 7.47% | 6.50% | 89% |
| CNL Healthcare Properties | $108.8 | $559.7 | $10 | 7.62% | 4.00% | 84% |
| Resource Real Estate Opportunity REIT | $104.6 | $325.0 | $10 | N/A | 4.00% | N/A |
| Griffin Capital Essential Asset REIT | $81.4 | $571.2 | $10 | 7.97% | 6.75% | 79% |
| American Realty Capital Healthcare Trust II | $64.1 | $41.9 | $25 | 7.40% | 6.80% | 214% |
| Strategic Storage Trust | $60.1 | $650.0 | $10 | 7.16% | 6.50% | 155% |
| American Realty Capital Global Trust | $37.6 | $86.1 | $10 | 8.55% | 7.10% | 149% |
| Jones Lang LaSalle Income Property Trust | $28.9 | $928.9 | N/A | N/A | 3.94% | 63% |
| Apple REIT Ten | $27.8 | $812.3 | $11 | 10.01% | 7.50% | 91% |
*Funds from operations are based on Nareit-defined FFO and adjusted for acquisition costs and expenses. N/A = not available.
Source: MTS Research Advisors
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