Real Estate

92 companies in 3 industries · $330B combined revenue · $45.4B operating profit

6.8%Median revenue growth
14.8%Median earnings growth
28.5%Median operating margin
7.5%Median ROCE
4%Companies with net cash

Growth engines: the 4 Cylinders

All four working: 4% of companies

A 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 more39%
  • Operating leverage · Operating income growing faster than a growing revenue46%
  • Margin expansion · Operating margin up 1 point or more39%
  • Debt reduction · Debt down 5% or more, or net cash22%

Industries in Real Estate

All 92 real estate companies

Median–6.8%14.8%28.5%7.5%0.79x
WELLWelltower · REITs$8.5B40.2%▲-1.1%▼-33.9%▼n/a0.46x▲
PLDPrologis · REITs$8.8B7.2%▲-10.8%▼49.6%▲n/a0.66x▲
EQIXEquinix · REITs$9.2B5.4%▼65.6%▲20%▼n/a0.14x▲
AMTAmerican Tower · REITs$936M20.8%▲15.3%▲518%▲n/a10x▼
BNBrookfield · Real estate services$75.1B-12.7%▼74.6%▲––0.08x▲
SPGSimon Property · REITs$6.4B6.7%▼96.6%▲49.9%▲n/a5.46x▼
DLRDigital Realty Trust · REITs$6.1B10%▲117%▲10.8%▼n/a–
PSAPublic Storage · REITs$4.8B2.7%▼-13.9%▼40%▲n/a1.11x▼
ORealty Income · REITs$5.7B9.1%▲23%▲16.8%▼n/a–
VTRVentas · REITs$5.8B18.5%▲196%▲3.5%▼n/a1.04x▼
CBRECBRE · Real estate services$39.9B13.4%▲19.5%▲4.4%▼9.4%▲0.58x▲
CCICrown Castle · REITs$215M12%▲–965%▲n/a–
IRMIron Mountain · REITs$6.9B12.2%▲-17.1%▼16.9%▼n/a–
EXRExtra Space Storage · REITs$129M7.1%▲14%▼1091%▲n/a–
VICIVICI Properties · REITs$4.0B4.1%▼3.6%▼91.5%▲n/a0.60x▲
BEKEKE · Real estate servicesCNY 94.6B1.2%▼-26.3%▼2.2%▼2.8%▼0.00x▲
SBACSba Communications · REITs$244M59.9%▲40.6%▲549%▲n/a–
ESSEssex Property Trust · REITs$9M-8.6%▼-13.4%▼9587%▲n/a–
HSTHost Hotels & Resorts · REITs$6.1B7.6%▲9.8%▼14%▼n/a0.19x▲
INVHInvitation Homes · Real estate services$2.7B4.2%▼29.5%▲14.2%▼–0.88x▼
KIMKimco Realty · REITs$2.1B5.1%▼42.3%▲36%▲n/a0.74x▲
LAMRLamar Advertising · REITs$2.3B2.7%▼62.3%▲34.2%▲n/a3.34x▼
OHIOmega Healthcare Investors · REITs$1.2B13.2%▲45.2%▲70.5%▲n/a0.82x▼
WPCW. P. Carey · REITs$1.7B8.4%▲1.2%▼–n/a1.07x▼
SUISun Communities · REITs$2.3B2%▼1265%▲–n/a–
MAAMid America Apartment Communities · REITs$2.2B0.8%▼-15.3%▼29.2%▲n/a–
WYWeyerhaeuser · REITs$6.9B-3.1%▼-18.2%▼10.6%▼n/a0.59x▲
JLLJones Lang Lasalle · Real estate services$26.1B11.4%▲44.9%▲4.2%▼10.5%▲0.11x▲
REGRegency Centers · REITs$1.6B6.9%▲31.7%▲72.3%▲n/a0.69x▲
DOCHealthpeak Properties · REITs$604M6.2%▼-70.7%▼-332%▼n/a1.31x▼
UDRUDR · REITs$11M36.6%▲322%▲4873%▲n/a1.77x▼
CSGPCostar · Real estate services$3.2B18.7%▲-95%▼-2.2%▼-0.7%▼0.12x▲
ELSEquity Lifestyle Properties · REITs$1.5B0.3%▼4.5%▼25.6%▼n/a1.91x▼
AHRAmerican Healthcare REIT · REITs$2.1B11.2%▲–19.8%▼n/a–
GLPIGaming & Leisure Properties · REITs$1.6B4.1%▼5.2%▼75.3%▲n/a1.56x▼
CPTCamden Property Trust · REITs$13M81.7%▲135%▲–n/a0.89x▼
BXPBXP · REITs$3.5B2.2%▼1839%▲29.1%▲n/a–
EGPEastgroup Properties · REITs$721M12.7%▲13%▼39.9%▲n/a–
FRTFederal Realty Investment Trust · REITs$1.3B6.4%▼39.2%▲47.1%▲n/a1.53x▼
CTRECareTrust REIT · REITs$1M–156%▲-16754%▼n/a0.22x▲
REXRRexford Industrial Realty · REITs$1M-3.6%▼-22.6%▼-105588%▼n/a0.38x▲
RHPRyman Hospitality Properties · REITs$2.6B10.2%▲-10.4%▼18.9%▼n/a5.30x▼
CUBECubeSmart · REITs$1.1B5.3%▼-15.5%▼40%▲n/a–
LINELineage · REITs$5.4B0.3%▼–3.4%▼n/a0.74x▲
BRXBrixmor Property · REITs$1.4B6.7%▼13.8%▼–n/a1.83x▼
ADCAgree Realty · REITs$718M16.4%▲8%▼47.4%▲n/a–
FRFirst Industrial Realty Trust · REITs$727M8.6%▲-13.9%▼42.3%▲n/a–
NNNNNN Reit · REITs$926M6.6%▼-1.8%▼63.6%▲n/a–
AREAlexandria Real Estate Equities · REITs$3.0B-2.9%▼-543%▼-59.2%▼n/a0.80x▼
TRNOTerreno Realty · Real estate services$476M24.5%▲118%▲40.3%▲–0.23x▲
STAGSTAG Industrial · REITs$845M10.1%▲44.6%▲37.5%▲n/a0.91x▼
MACMacerich · REITs$1.0B10.4%▲––n/a2.07x▼
VNOVornado Realty Trust · REITs$1.8B1.3%▼1186%▲72.1%▲n/a0.38x▲
HRHealthcare Realty Trust · REITs$28M47.3%▲––n/a0.85x▼
FSVFirstService · Real estate services$5.5B5.4%▼1.6%▼6.1%▼9.9%▲0.78x▲
EPRTEssential Properties Realty Trust · REITs$561M24.8%▲24.6%▲64.1%▲n/a0.60x▲
RYNRayonier · REITs$483M-51%▼32.1%▲17.3%▼n/a0.47x▲
PECOPhillips Edison · REITs$13M18.8%▲77.6%▲–n/a1.04x▼
OUTOUTFRONT Media · REITs$1.8B0%▼-43.1%▼16%▼n/a3.64x▼
SBRASabra Health Care REIT · REITs$357M25.4%▲22.8%▲74.5%▲n/a0.90x▼
KRGKite Realty Group Trust · REITs$844M0.8%▼7236%▲17%▼n/a0.98x▼
STWDStarwood Property Trust · REITs$1.8B-5.3%▼14.3%▼–n/a–
RITMRithm Capital · REITs$4.6B-6.7%▼-25.2%▼–n/a4.20x▼
CUZCousins Properties · REITs$994M16%▲-11.9%▼67.8%▲n/a0.71x▲
CIGIColliers International · Real estate services$5.6B15.3%▲-5.2%▼6.7%▼7.2%▼1.07x▼
EPREPR Properties · REITs$718M2.9%▼88.2%▲57.7%▲n/a1.26x▼
HHHHoward Hughes · REITs$1.5B-15.8%▼-37.3%▼22.5%▼n/a1.35x▼
COLDAmericold Realty Trust · REITs$2.5B-2.5%▼–0.3%▼n/a–
KRCKilroy Realty · REITs$19M8.9%▲29.9%▲–n/a–
APLEApple Hospitality REIT · REITs$1.4B-1.3%▼-18.1%▼18.3%▼n/a0.49x▲
BNLBroadstone Net Lease · REITs$454M5.2%▼-40.6%▼41.5%▲n/a0.87x▼
CDPCopt Defense Properties · REITs$42M-44.3%▼10.8%▼-1168%▼n/a1.83x▼
JOEST JOE · Real estate development$513M27.4%▲55.9%▲28.5%–0.51x▲
VACMarriott Vacations Worldwide · Real estate services$4.7B1%▼-241%▼-11.5%▼–1.77x▼
LXPLXP Industrial Trust · REITs$4M-0.4%▼154%▲4541%▲n/a0.66x▲
IRTIndependence Realty Trust · REITs$658M2.8%▼43.9%▲18.2%▼n/a0.66x▲
MRPMillrose Properties · Real estate services$600M––80.9%▲–0.36x▲
SLGSL Green Realty · REITs$1.0B13.2%▲-540%▼65%▲n/a–
CXWCoreCivic · REITs$2.2B12.7%▲69.2%▲9.9%▼n/a0.87x▼
NHINational Health Investors · REITs$80M47.1%▲3%▼–n/a0.76x▲
HIWHighwoods Properties · REITs$806M-2.4%▼56%▲67.6%▲n/a–
VTMXVesta Real Estate Corporation, S.A.B. de C.V. · Real estate services$283M12.2%▲8.3%▼101%▲6.4%▼0.48x▲
CURBCurbline Properties · Real estate services$183M51.3%▲288%▲28.6%▲–0.22x▲
NMRKNewmark · Real estate services$2.8B21.9%▲47.6%▲8.4%▼7.5%0.46x▲
DRHDiamondRock Hospitality · REITs$1.1B-0.8%▼111%▲14.5%▼n/a0.76x▲
UEUrban Edge Properties · Real estate services$472M6.1%▼28.9%▲36.7%▲––
AKRAcadia Realty Trust · REITs$411M14.2%▲-22%▼12%▼n/a0.84x▼
CWKCushman & Wakefield · Real estate services$10.3B8.9%▲-32.8%▼4.4%▼8.9%▲1.40x▼
FCPTFour Corners Property Trust · REITs$31M1.8%▼11.8%▼–n/a0.74x▲
LTCLTC Properties · REITs$263M25.3%▲29.6%▲77.9%▲n/a0.78x▲
IVTInvenTrust Properties · REITs$299M9.2%▲716%▲20.1%▼n/a0.46x▲
PEBPebblebrook Hotel Trust · REITs$1.5B1.5%▼–3%▼n/a0.86x▼

▲ 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).