Editor's note: This article is published monthly with current data available at that time.

Capital market activity by US equity real estate investment trusts is off to a strong start in 2024, with the industry collecting $7.10 billion in January.

The amount represents an approximately 88% increase from December 2023 and a 6.8% hike from a year earlier.

The majority of capital raised in January came through debt offerings, at $6.99 billion, while common equity offerings accounted for the remaining $115.6 million, according to S&P Global Market Intelligence data.

Prologis, Realty Income pull in the most capital

Industrial REIT Prologis Inc. and single tenant-focused Realty Income Corp. brought in the most capital during the month, raising $1.25 billion each.

Prologis sold $800 million worth of 5.000% notes due 2034 and $450 million worth of 5.250% notes due 2054. Net proceeds from the sale will go toward general corporate purposes, which includes repaying debt under the REIT's global lines of credit.

Realty Income also sold $800 million of 5.125% notes due 2034 and $450 million of 4.750% notes due 2029. The company will use the net proceeds for general corporate purposes, including repaying or repurchasing the company's debt, foreign currency swaps or other hedging instruments, as well as the development and acquisition of additional properties and improvement and expansion of certain assets in its portfolio.

– Set email alerts for future Data Dispatch articles. – Access a spreadsheet listing the offerings completed year to date in 2024 by publicly listed US equity real estate investment trusts. – For further capital offerings research, try the global real estate capital offerings activity template.

Retail sector tops capital offerings

By property sector, retail REITs raised the most capital in January with $3 billion. The residential sector came in second with $1.85 billion raised, while industrial-focused REITs followed with $1.25 billion.

During the same month, the self-storage segment pulled in $600 million, while the office sector raised $400 million.