Prologis, American Tower Corporation, and Welltower dominate the real estate sector.
Prologis (NYSE:PLD) is the largest real estate company by market cap, followed closely by American Tower Corporation (NYSE:AMT) and Welltower (NYSE:WELL). Almost 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.
Image source: Getty Images.
Largest real estate companies by market cap
Largest companies by market cap in the real estate sector
Companies 1-5
1. Prologis
- Market cap: $102.37 billion (as of April 1)
- Revenue (TTM): $8.2 billion
- Gross profit (TTM): $4.9 billion
- Five-year annualized return: 11.72%
- Year founded: 1983
Prologis is the world’s largest REIT. It 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. Its assets under management (AUM) totaled $198 billion. 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.
2. American Tower Corporation
- Market cap: $101.72 billion (as of April 1)
- Revenue (TTM): $10.8 billion
- Gross profit (TTM): $6.8 billion
- Five-year annualized return: 3.69%
- 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 their other IT needs.
3. Welltower
- Market cap: $98.25 billion (as of April 1)
- Revenue (TTM): $7.9 billion
- Gross profit (TTM): $2.4 billion
- Five-year annualized return: 34.60%
- 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 three countries: the U.S., Canada, and the U.K. It operates over 1,500 senior and wellness housing communities, as well as more than 26 million square feet of outpatient medical buildings.
4. Equinix
- Market cap: $79.36 billion (as of April 1)
- Revenue (TTM): $8.7 billion
- Gross profit (TTM): $4.3 billion
- Five-year annualized return: 8.42%
- Year founded: 1998
Digital infrastructure company Equinix converted to a REIT in 2015. It has a network of 268 data centers in 35 countries as 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 made AI a focus and partnered with tech giant Nvidia (NASDAQ:NVDA). It has also prioritized sustainability and has set a goal of procuring 100% renewable energy coverage globally by 2030.
5. Simon Property Group
- Market cap: $54.18 billion (as of April 1)
- Revenue (TTM): $6.0 billion
- Gross profit (TTM): $4.4 billion
- Five-year annualized return: 36.19%
- 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 6-10
6. Public Storage
- Market cap: $52.50 billion (as of April 1)
- Revenue (TTM): $4.7 billion
- Gross profit (TTM): $3.4 billion
- Five-year annualized return: 13.47%
- 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.
7. Realty Income
- Market cap: $51.73 billion (as of April 1)
- Revenue (TTM): $5.3 billion
- Gross profit (TTM): $3.8 billion
- Five-year annualized return: 10.39%
- 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. Digital Realty
- Market cap: $48.24 billion (as of April 1)
- Revenue (TTM): $5.6 billion
- Gross profit (TTM): $2.2 billion
- Five-year annualized return: 4.90%
- Year founded: 2004
Digital Realty is a data center REIT with a global network of more than 310 data centers serving approximately 5,000 customers. It has one of the largest footprints on this list, operating data centers on six continents: 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.
9. Crown Castle
- Market cap: $45.38 billion (as of April 1)
- Revenue (TTM): $6.6 billion
- Gross profit (TTM): $5.2 billion
- Five-year annualized return: -1.13%
- 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.
10. CBRE Group
- Market cap: $39.24 billion (as of April 1)
- Revenue (TTM): $35.8 billion
- Gross profit (TTM): $10.7 billion
- Five-year annualized return: 29.00%
- Year founded: 1906
CBRE Group is the largest commercial real estate services and investment company in the world. It has more than $146 billion in AUM, operates in over 100 countries, and serves almost 90 of the Fortune 100 companies.
With well over 100 years in operation, CBRE Group is the oldest company on this list. It’s also the only one that isn’t structured as a REIT.
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 nine of the top 10 largest real estate companies by market cap. Not only is it easy to buy and sell REITs, investors can 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 than the overall stock market. Whether you’re looking for greater diversification or more stability in your portfolio, investing in real estate could help you achieve it.
