Top Real Estate Stocks by Total Assets
Top real estate companies ranked by total assets, latest annual filings.
What Total Assets Means for Real Estate Companies
Total assets in real estate is close to a portfolio listing: land, buildings and development projects make up nearly the whole figure, with cash, tenant receivables and joint venture interests filling the rest. Most property companies carry those buildings at cost less accumulated depreciation, so the balance sheet records what was paid, not what the property would fetch today. Every figure comes from the latest annual accounts, before the mortgages against it.
Why It Matters in Real Estate
Total assets is the operating platform here, because rent comes from the square footage on the books and the debt secured against it sets how much of the return reaches shareholders. The distortion is depreciation. Buildings that hold or gain value are written down on schedule anyway, so a long-held portfolio drifts further below its market value each year, and recent acquisitions sit closer to current pricing. Net asset value estimates exist for that reason.
What to Read Alongside
Pair total assets with Return on Assets to see what the portfolio earns, Revenue for the rent it collects, and Long-Term Debt to see how much of it is mortgaged.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | NLY | Annaly Capital Management, Inc. | Real Estate | $135.61B | $13.76B |
| 2 | AGNC | AGNC Investment Corp. | Real Estate | $115.08B | $10.41B |
| 3 | PLD | Prologis, Inc. | Real Estate | $98.72B | $120.04B |
| 4 | O | Realty Income Corporation | Real Estate | $72.80B | $54.09B |
| 5 | WELL | Welltower Inc. | Real Estate | $67.30B | $173.38B |
| 6 | AMT | American Tower Corporation | Real Estate | $63.19B | $87.73B |
| 7 | STWD | Starwood Property Trust, Inc. | Real Estate | $63.18B | $4.64B |
| 8 | RITM | Rithm Capital Corp. | Real Estate | $53.06B | $5.15B |
| 9 | DLR | Digital Realty Trust, Inc. | Real Estate | $49.41B | $64.75B |
| 10 | VICI | VICI Properties Inc. | Real Estate | $46.72B | $26.45B |
| 11 | SPG | Simon Property Group, Inc. | Real Estate | $40.61B | $68.82B |
| 12 | EQIX | Equinix, Inc. | Real Estate | $40.14B | $95.48B |
| 13 | ARE | Alexandria Real Estate Equities, Inc. | Real Estate | $34.08B | $7.47B |
| 14 | CCI | Crown Castle Inc. | Real Estate | $31.52B | $37.21B |
| 15 | CBRE | CBRE Group, Inc. | Real Estate | $30.88B | $35.41B |
| 16 | EXR | Extra Space Storage Inc. | Real Estate | $29.26B | $30.29B |
| 17 | VTR | Ventas, Inc. | Real Estate | $27.59B | $44.84B |
| 18 | BXP | BXP, Inc. | Real Estate | $26.17B | $9.94B |
| 19 | PMT | PennyMac Mortgage Investment Trust | Real Estate | $21.35B | $615.65M |
| 20 | IRM | Iron Mountain Incorporated | Real Estate | $21.13B | $33.66B |
| 21 | ARR | ARMOUR Residential REIT, Inc. | Real Estate | $21.01B | $1.79B |
| 22 | VMRK | AvalonBay Communities, Inc. | Real Estate | $20.75B | $48.58B |
| 23 | DOC | Healthpeak Properties, Inc. | Real Estate | $20.34B | $13.35B |
| 24 | PSA | Public Storage | Real Estate | $20.21B | $57.36B |
| 25 | BXMT | Blackstone Mortgage Trust, Inc. | Real Estate | $20.00B | $1.79B |
| 26 | KIM | Kimco Realty Corporation | Real Estate | $19.69B | $15.86B |
| 27 | EFC | Ellington Financial Inc. | Real Estate | $19.35B | $1.51B |
| 28 | LINE | Lineage, Inc. | Real Estate | $19.18B | $8.14B |
| 29 | INVH | Invitation Homes Inc. | Real Estate | $18.68B | $16.25B |
| 30 | WPC | W. P. Carey Inc. | Real Estate | $17.99B | $14.67B |
| 31 | JLL | Jones Lang LaSalle Incorporated | Real Estate | $17.80B | $13.83B |
| 32 | DX | Dynex Capital, Inc. | Real Estate | $17.34B | $2.70B |
| 33 | BEKE | KE Holdings Inc. | Real Estate | $16.68B | $19.32B |
| 34 | WY | Weyerhaeuser Company | Real Estate | $16.61B | $14.11B |
| 35 | CIM | Chimera Investment Corporation | Real Estate | $15.81B | $702.34M |
| 36 | VNO | Vornado Realty Trust | Real Estate | $15.52B | $6.50B |
| 37 | MPT | Medical Properties Trust, Inc. | Real Estate | $15.00B | $1.67B |
| 38 | ABR | Arbor Realty Trust, Inc. | Real Estate | $14.49B | $539.15M |
| 39 | AMH | American Homes 4 Rent | Real Estate | $13.24B | $11.55B |
| 40 | ESS | Essex Property Trust, Inc. | Real Estate | $13.16B | $17.69B |
| 41 | HST | Host Hotels & Resorts, Inc. | Real Estate | $13.05B | $17.17B |
| 42 | MFA | MFA Financial, Inc. | Real Estate | $13.05B | $671.22M |
| 43 | REG | Regency Centers Corporation | Real Estate | $13.00B | $13.49B |
| 44 | GLPI | Gaming and Leisure Properties, Inc. | Real Estate | $12.91B | $11.46B |
| 45 | ADAM | Adamas Trust, Inc. | Real Estate | $12.64B | $701.06M |
| 46 | REXR | Rexford Industrial Realty, Inc. | Real Estate | $12.61B | $8.14B |
| 47 | SUI | Sun Communities, Inc. | Real Estate | $12.52B | $14.60B |
| 48 | UNIT | Uniti Group Inc. | Real Estate | $12.04B | $1.18B |
| 49 | MAA | Mid-America Apartment Communities, Inc. | Real Estate | $11.98B | $13.87B |
| 50 | ORC | Orchid Island Capital, Inc. | Real Estate | $11.68B | $972.68M |
| 51 | SBAC | SBA Communications Corporation | Real Estate | $11.58B | $19.72B |
| 52 | SLG | SL Green Realty Corp. | Real Estate | $11.08B | $3.58B |
| 53 | KRC | Kilroy Realty Corporation | Real Estate | $10.92B | $4.27B |
| 54 | HHH | Howard Hughes Holdings Inc. | Real Estate | $10.64B | $4.38B |
| 55 | UDR | UDR, Inc. | Real Estate | $10.61B | $11.47B |
| 56 | CSGP | CoStar Group, Inc. | Real Estate | $10.54B | $13.66B |
| 57 | OHI | Omega Healthcare Investors, Inc. | Real Estate | $10.05B | $14.24B |
| 58 | ARI | Apollo Commercial Real Estate Finance, Inc. | Real Estate | $9.90B | $848.39M |
| 59 | ADC | Agree Realty Corporation | Real Estate | $9.80B | $8.77B |
| 60 | NNN | NNN REIT, Inc. | Real Estate | $9.38B | $8.07B |
| 61 | DEI | Douglas Emmett, Inc. | Real Estate | $9.29B | $1.70B |
| 62 | MRP | Millrose Properties, Inc. | Real Estate | $9.26B | $3.97B |
| 63 | HR | Healthcare Realty Trust Incorporated | Real Estate | $9.21B | $6.16B |
| 64 | BRX | Brixmor Property Group Inc. | Real Estate | $9.13B | $8.63B |
| 65 | FRT | Federal Realty Investment Trust | Real Estate | $9.13B | $9.49B |
| 66 | CPT | Camden Property Trust | Real Estate | $9.04B | $11.80B |
| 67 | CUZ | Cousins Properties Incorporated | Real Estate | $8.89B | $4.80B |
| 68 | MAC | The Macerich Company | Real Estate | $8.37B | $6.91B |
| 69 | COLD | Americold Realty Trust, Inc. | Real Estate | $8.12B | $4.17B |
| 70 | PK | Park Hotels & Resorts Inc. | Real Estate | $7.70B | $3.34B |
| 71 | CWK | Cushman & Wakefield Limited | Real Estate | $7.68B | $2.79B |
| 72 | HPP | Hudson Pacific Properties, Inc. | Real Estate | $7.27B | $617.04M |
| 73 | SAFE | Safehold Inc. | Real Estate | $7.25B | $789.60M |
| 74 | STAG | STAG Industrial, Inc. | Real Estate | $7.21B | $7.00B |
| 75 | LAMR | Lamar Advertising Company | Real Estate | $6.93B | $15.94B |
| 76 | EPRT | Essential Properties Realty Trust, Inc. | Real Estate | $6.86B | $5.98B |
| 77 | CIGI | Colliers International Group Inc. | Real Estate | $6.79B | $4.73B |
| 78 | KRG | Kite Realty Group Trust | Real Estate | $6.66B | $4.94B |
| 79 | CUBE | CubeSmart | Real Estate | $6.64B | $9.04B |
| 80 | SVC | Service Properties Trust | Real Estate | $6.49B | $805.55M |
| 81 | IVR | Invesco Mortgage Capital Inc. | Real Estate | $6.48B | $602.77M |
| 82 | HIW | Highwoods Properties, Inc. | Real Estate | $6.27B | $3.35B |
| 83 | RHP | Ryman Hospitality Properties, Inc. | Real Estate | $6.18B | $9.12B |
| 84 | FBRT | Franklin BSP Realty Trust, Inc. | Real Estate | $6.06B | $523.19M |
| 85 | IRT | Independence Realty Trust, Inc. | Real Estate | $6.02B | $3.52B |
| 86 | ELS | Equity LifeStyle Properties, Inc. | Real Estate | $5.75B | $11.85B |
| 87 | BNL | Broadstone Net Lease, Inc. | Real Estate | $5.72B | $3.31B |
| 88 | EPR | EPR Properties | Real Estate | $5.70B | $4.32B |
| 89 | FR | First Industrial Realty Trust, Inc. | Real Estate | $5.69B | $7.32B |
| 90 | SBRA | Sabra Health Care REIT, Inc. | Real Estate | $5.49B | $5.05B |
| 91 | EGP | EastGroup Properties, Inc. | Real Estate | $5.43B | $10.75B |
| 92 | AHR | American Healthcare REIT, Inc. | Real Estate | $5.43B | $11.67B |
| 93 | TRNO | Terreno Realty Corporation | Real Estate | $5.39B | $7.08B |
| 94 | PEB | Pebblebrook Hotel Trust | Real Estate | $5.35B | $2.37B |
| 95 | OUT | OUTFRONT Media Inc. | Real Estate | $5.31B | $5.58B |
| 96 | PECO | Phillips Edison & Company, Inc. | Real Estate | $5.29B | $4.97B |
| 97 | LADR | Ladder Capital Corp | Real Estate | $5.15B | $1.17B |
| 98 | CTRE | CareTrust REIT, Inc. | Real Estate | $5.15B | $8.74B |
| 99 | NMRK | Newmark Group, Inc. | Real Estate | $5.02B | $2.06B |
| 100 | APLE | Apple Hospitality REIT, Inc. | Real Estate | $4.90B | $4.31B |
No companies match this search.
Total assets measure balance-sheet size, not worth: a bank holding customer deposits carries assets many times its market value, while a software company of the same market value carries a fraction of them. Above 150 times market cap the accounts are not in US dollars, and the company is left out.
How this ranking is built
Companies are ranked by total assets as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why do REIT book values drift below market value over time?
Accounting depreciates buildings over a set life, even when the property itself is holding or gaining value in the market. A portfolio held for decades therefore carries a book value far under what the same buildings would fetch today, while a recently acquired one sits near its purchase price. This is the main reason property investors read net asset value estimates and funds from operations alongside the balance sheet.
Is a larger property portfolio a stronger one?
Not necessarily. The total records what was paid for the buildings and says nothing about occupancy, lease length, tenant quality or the debt secured against them. A smaller portfolio in strong locations with long leases can produce steadier cash than a larger one facing vacancies. Size does set the scale of the rent roll and of the financing, which is why debt and cash flow measures are read next to it.