The Largest Real Estate Companies by Market Cap in October 2025

• Market cap: $116.92 billion (as of Oct. 3)
• Revenue (TTM): $9.1 billion
• Gross profit (TTM): $3.5 billion
• Five-year annualized return: 28.27%
• Year founded: 1970

Welltower is the first healthcare REIT. In fact, it was originally known as Health Care REIT, Inc. The trust invests in healthcare infrastructure and senior housing, including assisted living facilities and dementia care facilities.

The REIT operates in the U.S., Canada, and the U.K. It operates more than 1,500 senior and wellness housing communities, as well as more than 26 million square feet of outpatient medical buildings.

2. Prologis

• Market cap: $108.64 billion (as of Oct. 3)
• Revenue (TTM): $8.6 billion
• Gross profit (TTM): $6.5 billion
• Five-year annualized return: 5.21%
• Year founded: 1983

Prologis builds, owns, and operates logistics real estate, including manufacturing facilities, storage and distribution properties, and flex spaces that serve multiple purposes. This company is now focusing on data centers to meet the demand driven by artificial intelligence (AI). It's planning to invest $8 billion into data centers over the next four years.

As of 2025, Prologis had about 6,000 buildings across 20 countries and more than $200 billion in assets under management (AUM). It's also expanding into France, with multiple data center projects planned there. Prologis works with many of the top retailers in the world. Customers that use its warehouses include Amazon (AMZN -1.85%) and Walmart (WMT +0.87%).

Prologis expects to change leadership next year. Co-founder Hamid R. Moghadam plans to retire from his CEO role on Jan. 1, 2026, and current president Dan Letter will succeed him.

3. American Tower Corporation

• Market cap: $89.07 billion (as of Oct. 3)
• Revenue (TTM): $10.3 billion
• Gross profit (TTM): $7.6 billion
• Five-year annualized return: -2.05%
• Year founded: 1995

American Tower Corporation is a REIT that owns and operates wireless networks in 22 countries. Its communications real estate portfolio has about 150,000 sites, with more than 40,000 of those in the U.S. and Canada.

In addition to communications towers, American Tower's portfolio also includes data centers, which businesses can use for cloud computing, AI technology, and other IT needs.

• Market cap: $76.21 billion (as of Oct. 3)
• Revenue (TTM): $8.9 billion
• Gross profit (TTM): $4.5 billion
• Five-year annualized return: 1.91%
• Year founded: 1998

Digital infrastructure company Equinix converted to a REIT in 2015. It has a network of over 270 data centers across more than 75 major metro areas as of 2025, with more than 10,000 customers. Companies that use Equinix include Amazon, Apple (AAPL -1.66%), and Meta Platforms (META +0.02%).

In recent years, Equinix has focused on AI and partnered with tech giant Nvidia (NVDA -0.49%) to offer a fully managed private cloud service to clients. It has also prioritized sustainability and has set a goal of procuring 100% renewable energy for its facilities by 2030.

5. Simon Property Group

• Market cap: $60.48 billion (as of Oct. 3)
• Revenue (TTM): $6.0 billion
• Gross profit (TTM): $5.0 billion
• Five-year annualized return: 29.32%
• Year founded: 1993

Simon Property Group is a REIT that owns, develops, and operates retail properties. It has a portfolio of more than 250 properties, which include its shopping malls, retail outlets, and open-air shopping centers.

Brothers Melvin and Herbert Simon founded Simon Property Group in the 1960s, taking it public in 1993 after decades of developing and operating strip malls. Melvin's son, David Simon, has been the company's CEO since 1995.

6. Digital Realty

• Market cap: $55.22 billion (as of Oct. 3)
• Revenue (TTM): $5.4 billion
• Gross profit (TTM): $5.0 billion
• Five-year annualized return: 4.61%
• Year founded: 1969

Realty Income is a REIT that invests in single-tenant commercial properties. Its portfolio had more than 15,600 properties located in the U.S., U.K., and several countries in the European Union as of 2025.

Instead of paying quarterly dividends like most REITs, Realty Income pays monthly dividends. It's even known as "The Monthly Dividend Company" for that reason, and it's one of the more popular real estate dividend stocks.

8. Public Storage

• Market cap: $51.50 billion (as of Oct. 3)
• Revenue (TTM): $4.7 billion
• Gross profit (TTM): $3.5 billion
• Five-year annualized return: 9.50%
• Year founded: 1972

Public Storage is the largest owner and operator of self-storage facilities in the world. This self-storage REIT has more than 3,300 facilities serving approximately 2 million customers in the U.S.

While most of Public Storage's business is in the U.S., it acquired Shurgard Self-Storage in 2006 to build its global reach. It now operates thousands of facilities across seven European Union nations.

9. CBRE Group

• Market cap: $46.46 billion (as of Oct. 3)
• Revenue (TTM): $38.1 billion
• Gross profit (TTM): $7.4 billion
• Five-year annualized return: 26.54%
• Year founded: 1906

CBRE Group is the largest commercial real estate services and investment company in the world. It has over $155 billion in AUM, operates in more than 100 countries, and serves almost 90 of the Fortune 100 companies as of 2025.

With more than a century of experience, CBRE Group is the oldest company on this list. It's also the only one that isn't structured as a REIT.

10. Goodman Group

• Market cap: $45.90 billion* (as of Oct. 3)
• Revenue (TTM): $1.5 billion*
• Gross profit (TTM): $953.4 million*
• Five-year annualized return: 13.40%
• Year founded: 1989

*Converted from Australian dollars.

Goodman Group is Australia's largest REIT. It owns, develops, and manages logistics properties and data centers in highly targeted locations near key infrastructure. Goodman Group operates across 15 countries and has more than $85 billion in AUM as of 2025.

The AI boom and demand for data centers has been a tailwind for the REIT. In February 2025, Goodman Group raised $4 billion Australian dollars (about $2.6 billion) to fund data centers and industrial development. In August, the company announced plans to develop data centers in European capital cities.

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