REITs
75 companies · $152B combined revenue · $40.0B operating profit
The typical US-listed reits company grew revenue 6.6% and earnings 14.1% in its latest year, at a 34.2% operating margin. Figures from each company's latest annual filing with the SEC, refreshed daily.
6.6%Median revenue growth
14.1%Median earnings growth
5.7%Median revenue growth, 3 yrs
5.3%Median earnings growth, 3 yrs
34.2%Median operating margin
7.1%Median return on equity
Fastest revenue growthCamden Property Trust CPT81.7%Fastest earnings growthKite Realty Group Trust KRG7236%Highest return on equitySimon Property SPG103%Biggest margin gainEssex Property Trust ESS+2737.1 pts
Growth engines: the 4 Cylinders
All four working: 3% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more35%
- Operating leverage · Operating income growing faster than a growing revenue42%
- Margin expansion · Operating margin up 1 point or more39%
- Debt reduction · Debt down 5% or more, or net cash16%
Combined revenue · 75 companies reporting in US dollars
Combined operating margin
All 75 companies
| Median | – | 6.6% | 14.1% | 34.2% | 7.1% | 0.85x |
| WELLWelltower | $8.5B | 40.2%▲ | -1.1%▼ | -33.9%▼ | 2.3%▼ | 0.46x▲ |
| PLDPrologis | $8.8B | 7.2%▲ | -10.8%▼ | 49.6%▲ | 6.3%▼ | 0.66x▲ |
| EQIXEquinix | $9.2B | 5.4%▼ | 65.6%▲ | 20%▼ | 9.5%▲ | 0.14x▲ |
| AMTAmerican Tower | $936M | 20.8%▲ | 15.3%▲ | 518%▲ | 72%▲ | 10x▼ |
| SPGSimon Property | $6.4B | 6.7%▲ | 96.6%▲ | 49.9%▲ | 103%▲ | 5.46x▼ |
| DLRDigital Realty Trust | $6.1B | 10%▲ | 117%▲ | 10.8%▼ | 5.7%▼ | – |
| PSAPublic Storage | $4.8B | 2.7%▼ | -13.9%▼ | 40%▲ | 19.3%▲ | 1.11x▼ |
| ORealty Income | $5.7B | 9.1%▲ | 23%▲ | 16.8%▼ | 2.7%▼ | – |
| VTRVentas | $5.8B | 18.5%▲ | 196%▲ | 3.5%▼ | 2.1%▼ | 1.04x▼ |
| CCICrown Castle | $215M | 12%▲ | – | 965%▲ | – | – |
| IRMIron Mountain | $6.9B | 12.2%▲ | -17.1%▼ | 16.9%▼ | – | – |
| EXRExtra Space Storage | $129M | 7.1%▲ | 14%▼ | 1091%▲ | 7.3%▲ | – |
| VICIVICI Properties | $4.0B | 4.1%▼ | 3.6%▼ | 91.5%▲ | 10%▲ | 0.60x▲ |
| SBACSba Communications | $244M | 59.9%▲ | 40.6%▲ | 549%▲ | – | – |
| ESSEssex Property Trust | $9M | -8.6%▼ | -13.4%▼ | 9587%▲ | 12.7%▲ | – |
| HSTHost Hotels & Resorts | $6.1B | 7.6%▲ | 9.8%▼ | 14%▼ | 11.7%▲ | 0.19x▲ |
| KIMKimco Realty | $2.1B | 5.1%▼ | 42.3%▲ | 36%▲ | 5.6%▼ | 0.74x▲ |
| LAMRLamar Advertising | $2.3B | 2.7%▼ | 62.3%▲ | 34.2% | 57.3%▲ | 3.34x▼ |
| OHIOmega Healthcare Investors | $1.2B | 13.2%▲ | 45.2%▲ | 70.5%▲ | 11.4%▲ | 0.82x▲ |
| WPCW. P. Carey | $1.7B | 8.4%▲ | 1.2%▼ | – | 5.7%▼ | 1.07x▼ |
| SUISun Communities | $2.3B | 2%▼ | 1265%▲ | – | 20.3%▲ | – |
| MAAMid America Apartment Communities | $2.2B | 0.8%▼ | -15.3%▼ | 29.2%▼ | 7.9%▲ | – |
| WYWeyerhaeuser | $6.9B | -3.1%▼ | -18.2%▼ | 10.6%▼ | 3.4%▼ | 0.59x▲ |
| REGRegency Centers | $1.6B | 6.9%▲ | 31.7%▲ | 72.3%▲ | 7.6%▲ | 0.69x▲ |
| DOCHealthpeak Properties | $604M | 6.2%▼ | -70.7%▼ | -332%▼ | 1%▼ | 1.31x▼ |
| UDRUDR | $11M | 36.6%▲ | 322%▲ | 4873%▲ | 11.5%▲ | 1.77x▼ |
| ELSEquity Lifestyle Properties | $1.5B | 0.3%▼ | 4.5%▼ | 25.6%▼ | 22.9%▲ | 1.91x▼ |
| AHRAmerican Healthcare REIT | $2.1B | 11.2%▲ | – | 19.8%▼ | 2.1%▼ | – |
| GLPIGaming & Leisure Properties | $1.6B | 4.1%▼ | 5.2%▼ | 75.3%▲ | 17.8%▲ | 1.56x▼ |
| CPTCamden Property Trust | $13M | 81.7%▲ | 135%▲ | – | 8.8%▲ | 0.89x▼ |
| BXPBXP | $3.5B | 2.2%▼ | 1839%▲ | 29.1%▼ | 5.4%▼ | – |
| EGPEastgroup Properties | $721M | 12.7%▲ | 13%▼ | 39.9%▲ | 7.4%▲ | – |
| FRTFederal Realty Investment Trust | $1.3B | 6.4%▼ | 39.2%▲ | 47.1%▲ | 12.7%▲ | 1.53x▼ |
| CTRECareTrust REIT | $1M | – | 156%▲ | -16754%▼ | 7.9%▲ | 0.22x▲ |
| REXRRexford Industrial Realty | $1M | -3.6%▼ | -22.6%▼ | -105588%▼ | 2.5%▼ | 0.38x▲ |
| RHPRyman Hospitality Properties | $2.6B | 10.2%▲ | -10.4%▼ | 18.9%▼ | 32.5%▲ | 5.30x▼ |
| CUBECubeSmart | $1.1B | 5.3%▼ | -15.5%▼ | 40%▲ | 12.2%▲ | – |
| LINELineage | $5.4B | 0.3%▼ | – | 3.4%▼ | -1.2%▼ | 0.74x▲ |
| BRXBrixmor Property | $1.4B | 6.7%▲ | 13.8%▼ | – | 12.8%▲ | 1.83x▼ |
| ADCAgree Realty | $718M | 16.4%▲ | 8%▼ | 47.4%▲ | 3.3%▼ | – |
| FRFirst Industrial Realty Trust | $727M | 8.6%▲ | -13.9%▼ | 42.3%▲ | 9.3%▲ | – |
| NNNNNN Reit | $926M | 6.6%▼ | -1.8%▼ | 63.6%▲ | 8.8%▲ | – |
| AREAlexandria Real Estate Equities | $3.0B | -2.9%▼ | -543%▼ | -59.2%▼ | -9.2%▼ | 0.80x▲ |
| STAGSTAG Industrial | $845M | 10.1%▲ | 44.6%▲ | 37.5%▲ | 7.6%▲ | 0.91x▼ |
| MACMacerich | $1.0B | 10.4%▲ | – | – | -8.1%▼ | 2.07x▼ |
| VNOVornado Realty Trust | $1.8B | 1.3%▼ | 1186%▲ | 72.1%▲ | 15.1%▲ | 0.38x▲ |
| HRHealthcare Realty Trust | $28M | 47.3%▲ | – | – | -5.3%▼ | 0.85x▲ |
| EPRTEssential Properties Realty Trust | $561M | 24.8%▲ | 24.6%▲ | 64.1%▲ | 6%▼ | 0.60x▲ |
| RYNRayonier | $483M | -51%▼ | 32.1%▲ | 17.3%▼ | 21.5%▲ | 0.47x▲ |
| PECOPhillips Edison | $13M | 18.8%▲ | 77.6%▲ | – | 4.9%▼ | 1.04x▼ |
| OUTOUTFRONT Media | $1.8B | 0%▼ | -43.1%▼ | 16%▼ | 20.7%▲ | 3.64x▼ |
| SBRASabra Health Care REIT | $357M | 25.4%▲ | 22.8%▲ | 74.5%▲ | 5.5%▼ | 0.90x▼ |
| KRGKite Realty Group Trust | $844M | 0.8%▼ | 7236%▲ | 17%▼ | 9.7%▲ | 0.98x▼ |
| STWDStarwood Property Trust | $1.8B | -5.3%▼ | 14.3%▲ | – | 6.1%▼ | – |
| RITMRithm Capital | $4.6B | -6.7%▼ | -25.2%▼ | – | 8.3%▲ | 4.20x▼ |
| CUZCousins Properties | $994M | 16%▲ | -11.9%▼ | 67.8%▲ | 0.9%▼ | 0.71x▲ |
| EPREPR Properties | $718M | 2.9%▼ | 88.2%▲ | 57.7%▲ | 11.8%▲ | 1.26x▼ |
| HHHHoward Hughes | $1.5B | -15.8%▼ | -37.3%▼ | 22.5%▼ | 3.3%▼ | 1.35x▼ |
| COLDAmericold Realty Trust | $2.5B | -2.5%▼ | – | 0.3%▼ | -4%▼ | – |
| KRCKilroy Realty | $19M | 8.9%▲ | 29.9%▲ | – | 5.6%▼ | – |
| APLEApple Hospitality REIT | $1.4B | -1.3%▼ | -18.1%▼ | 18.3%▼ | 5.6%▼ | 0.49x▲ |
| BNLBroadstone Net Lease | $454M | 5.2%▼ | -40.6%▼ | 41.5%▲ | 3.3%▼ | 0.87x▼ |
| CDPCopt Defense Properties | $42M | -44.3%▼ | 10.8%▼ | -1168%▼ | 10.5%▲ | 1.83x▼ |
| LXPLXP Industrial Trust | $4M | -0.4%▼ | 154%▲ | 4541%▲ | 5.6%▼ | 0.66x▲ |
| IRTIndependence Realty Trust | $658M | 2.8%▼ | 43.9%▲ | 18.2%▼ | 1.6%▼ | 0.66x▲ |
| SLGSL Green Realty | $1.0B | 13.2%▲ | -540%▼ | 65%▲ | -2.6%▼ | – |
| CXWCoreCivic | $2.2B | 12.7%▲ | 69.2%▲ | 9.9%▼ | 8.3%▲ | 0.87x▼ |
| NHINational Health Investors | $80M | 47.1%▲ | 3%▼ | – | 9.3%▲ | 0.76x▲ |
| HIWHighwoods Properties | $806M | -2.4%▼ | 56%▲ | 67.6%▲ | 6.8%▼ | – |
| DRHDiamondRock Hospitality | $1.1B | -0.8%▼ | 111%▲ | 14.5%▼ | 7%▼ | 0.76x▲ |
| AKRAcadia Realty Trust | $411M | 14.2%▲ | -22%▼ | 12%▼ | 0.8%▼ | 0.84x▲ |
| FCPTFour Corners Property Trust | $31M | 1.8%▼ | 11.8%▼ | – | 6.9%▼ | 0.74x▲ |
| LTCLTC Properties | $263M | 25.3%▲ | 29.6%▲ | 77.9%▲ | 11%▲ | 0.78x▲ |
| IVTInvenTrust Properties | $299M | 9.2%▲ | 716%▲ | 20.1%▼ | 6.2%▼ | 0.46x▲ |
| PEBPebblebrook Hotel Trust | $1.5B | 1.5%▼ | – | 3%▼ | -2.7%▼ | 0.86x▼ |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).