American Tower Corporation (NYSE:AMT) is the largest real estate company by market cap, followed closely by Prologis (NYSE:PLD) and Welltower (NYSE:WELL). All of the top real estate companies are real estate investment trusts (REITs). They own and operate many different types of real estate, including industrial facilities, data centers, and shopping malls.
Largest real estate companies by market cap
Largest companies by market cap in the real estate sector
(Editor's note: Rankings are as of July 4, 2025.)
| Name and ticker | Market cap | Current price | Industry |
|---|---|---|---|
| American Tower (NYSE:AMT) | $99 billion | $212.29 | Specialized REITs |
| Prologis (NYSE:PLD) | $97 billion | $104.91 | Industrial REITs |
| Welltower (NYSE:WELL) | $111 billion | $166.24 | Health Care REITs |
| Equinix (NASDAQ:EQIX) | $75 billion | $772.33 | Specialized REITs |
| Digital Realty Trust (NYSE:DLR) | $58 billion | $172.21 | Specialized REITs |
| Simon Property Group (NYSE:SPG) | $52 billion | $160.82 | Retail REITs |
| Realty Income (NYSE:O) | $51 billion | $56.58 | Retail REITs |
| Public Storage (NYSE:PSA) | $49 billion | $279.38 | Specialized REITs |
| Goodman Group (ASX:GMG) | $70 billion | $34.64 | Industrial REITs |
| Crown Castle (NYSE:CCI) | $46 billion | $106.93 | Specialized REITs |
Companies 1-3
1. American Tower Corporation
- Market cap: $103.81 billion (as of July 6)
- Revenue (TTM): $10.5 billion
- Gross profit (TTM): $7.8 billion
- Five-year annualized return: -0.73%
- Year founded: 1995
American Tower Corporation is a REIT that owns and operates wireless networks in 22 countries. Its communications real estate portfolio included 148,957 sites at the end of 2024, with 42,222 of those in the U.S. and Canada.
In addition to communications towers, American Tower's portfolio also includes data centers. Businesses can use these for cloud computing, artificial intelligence (AI) technology, and other IT needs.
2. Prologis
- Market cap: $100.23 billion (as of July 6)
- Revenue (TTM): $8.4 billion
- Gross profit (TTM): $5.7 billion
- Five-year annualized return: 5.28%
- 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.
At the end of 2024, Prologis had 5,866 buildings across 20 countries and assets under management (AUM) of $198 billion. 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 (NASDAQ:AMZN) and Walmart (NYSE:WMT).
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. Welltower
- Market cap: $99.90 billion (as of July 6)
- Revenue (TTM): $8.5 billion
- Gross profit (TTM): $2.4 billion
- Five-year annualized return: 27.41%
- 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.
Companies 4-6
4. Equinix
- Market cap: $76.98 billion (as of July 6)
- Revenue (TTM): $8.8 billion
- Gross profit (TTM): $4.4 billion
- Five-year annualized return: 3.71%
- Year founded: 1998
Digital infrastructure company Equinix converted to a REIT in 2015. It had a network of 268 data centers in 34 countries at the end of 2024, with more than 10,000 customers. Companies that use Equinix include Amazon, Apple (NASDAQ:AAPL), and Meta Platforms (NASDAQ:META).
In recent years, Equinix has focused on AI. It has partnered with tech giant Nvidia (NASDAQ:NVDA) and is using $3.6 billion in 2025 capital expenditures to expand data centers in 33 metro areas. It has also prioritized sustainability and has set a goal of procuring 100% renewable energy for its facilities by 2030.
5. Digital Realty
- Market cap: $58.13 billion (as of July 6)
- Revenue (TTM): $5.6 billion
- Gross profit (TTM): $3.1 billion
- Five-year annualized return: 6.69%
- Year founded: 2004
Digital Realty is a data center REIT with a global network of more than 300 data centers serving approximately 5,000 customers. It has one of the largest footprints on this list, operating data centers in six geographic regions: North America, South America, Europe, Africa, Asia, and Oceania.
This is also the youngest real estate company that has made the top 10 by market cap. GI Partners started Digital Realty in 2004 when it purchased 21 data centers through bankruptcy auctions.
6. Simon Property Group
- Market cap: $54.43 billion (as of July 6)
- Revenue (TTM): $6.0 billion
- Gross profit (TTM): $5.0 billion
- Five-year annualized return: 26.61%
- 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.
Companies 7-10
7. Realty Income
- Market cap: $52.09 billion (as of July 6)
- Revenue (TTM): $5.4 billion
- Gross profit (TTM): $5.0 billion
- Five-year annualized return: 4.52%
- Year founded: 1969
Realty Income is a REIT that invests in single-tenant commercial properties. At the end of 2024, its portfolio had 15,621 properties located in the U.S., U.K., and several countries in the European Union.
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: $51.98 billion (as of July 6)
- Revenue (TTM): $4.7 billion
- Gross profit (TTM): $3.5 billion
- Five-year annualized return: 12.91%
- 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. Goodman Group
- Market cap: $46.60 billion* (as of July 6)
- Revenue (TTM): $1.9 billion*
- Gross profit (TTM): $1.3 billion*
- Five-year annualized return: 17.24%
- 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 Australian dollars ($55.6 billion) in assets.
The AI boom and demand for data centers has been a tailwind for this REIT. In February 2025, Goodman Group raised AU$4 billion (about $2.6 billion) to fund data centers and industrial development. It has also established a Hong Kong data center partnership in 2025..
10. Crown Castle
- Market cap: $44.82 billion (as of July 6)
- Revenue (TTM): $6.0 billion
- Gross profit (TTM): $4.6 billion
- Five-year annualized return: -5.47%
- Year founded: 1994
Crown Castle is the largest U.S. provider of shared communications infrastructure. With more than 40,000 cell towers, Crown Castle operates in all the country's major markets. In January 2014, Crown Castle converted its business structure to a REIT.
In March 2025, CEO Steven Moskowitz announced that Crown Castle would sell its small cells and fiber solutions businesses for $8.5 billion. The company plans to focus exclusively on its tower network.
Related investing topics
Takeaways
Real estate sector takeaways for investors
Real estate and the stock market are two of the most effective ways to build wealth. For investors who want to diversify their portfolios, real estate companies are a simple way to get real estate exposure through a brokerage account.
REITs, in particular, are a popular investment option. They make up all 10 of the largest real estate companies by market cap. Not only is it easy to buy and sell REITs, but investors can also receive sizable dividends since REITs are required to distribute at least 90% of taxable income as dividends.
REITs and other real estate companies also tend to be less volatile and better insulated from the impact of tariffs than the overall stock market. While the Trump administration's import tariffs affect the real estate sector, many of these companies have fairly stable revenue streams.
Whether you're looking for greater diversification or more stability in your portfolio, investing in real estate could help you achieve it.
