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REITs hit record Q2 FFO and NOI, Nareit data show

FFO rose to $22.4 billion in Q2, up 12.4% year over year, while NOI climbed to $32.7 billion, up 6.8%.

Reported · Written up by our desk · REITs

REITs posted record highs for funds from operations (FFO) and net operating income (NOI) in 2026’s second quarter, according to Nareit’s latest REIT Industry Tracker, while the industry also maintained strong balance sheets.

ConnectCRE reports that more than 70% of REITs recorded year over year FFO increases, and nearly 80% reported year over year NOI gains.

The tracker data show FFO reached $22.4 billion in Q2, up 12.4% year over year, while NOI totaled $32.7 billion, up 6.8%.

ConnectCRE also notes that same-store NOI increased 4.1% year over year, and Nareit said REIT strength was broad based rather than driven by a single measure or sector.

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