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US equity REITs' median cap rate rises to 7.8% in Q2, led by hotels at 11.2%

Market News
02 Sep 2026
Seeking Alpha
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Neutral
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The median implied capitalization rate for US equity real estate investment trusts (REITs) increased by 6 basis points quarter-over-quarter and 2 basis points year-over-year to 7.8% in the second quarter. Hotel REITs recorded the highest median cap rate at 11.2%, maintaining their position as the sector with the highest rates, followed by office REITs at 10.7%. This rise in cap rates reflects changing market conditions and may impact investment valuations and yields in the real estate sector going forward.

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