Sector analysis · US
Real Estate: which companies drove growth
The 20 largest Real Estate companies by market cap at the end of Q3 2024 (30 Sep 2024), compared with Q3 2023.
The top 20 at Q3 2024
Q3 2024 vs Q3 2023: combined net profit $4.6B (−23%), median EPS −9% (9 of 20 up), market-cap-weighted price +31%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Prologis, Inc. | 11.6% | 0.77 → 1.08 | +40% | +4.2 pp | +12% |
| 2 | American Tower Corporation | 10.8% | 1.26 → −1.69 | to loss | −22.4 pp | +41% |
| 3 | Equinix, Inc. | 8.5% | 2.93 → 3.10 | +6% | +0.3 pp | +25% |
| 4 | Welltower Inc. | 7.9% | 0.24 → 0.73 | +204% | +5.2 pp | +59% |
| 5 | Public Storage | 6.3% | 3.20 → 2.16 | −32% | −3.0 pp | +38% |
| 6 | Realty Income Corporation | 5.5% | 0.33 → 0.30 | −9% | +0.6 pp | +28% |
| 7 | Simon Property Group, Inc. | 5.5% | 1.85 → 1.46 | −21% | −1.9 pp | +57% |
| 8 | Digital Realty Trust, Inc. | 5.4% | 2.33 → 0.09 | −96% | −11.1 pp | +37% |
| 9 | Crown Castle Inc. | 5.1% | 0.61 → 0.70 | +15% | +0.6 pp | +28% |
| 10 | Extra Space Storage Inc. | 3.8% | 0.96 → 0.91 | −5% | +0.1 pp | +42% |
| 11 | CBRE Group, Inc. | 3.8% | 0.61 → 0.73 | +20% | +0.6 pp | +70% |
| 12 | VICI Properties Inc. | 3.5% | 0.55 → 0.70 | +27% | +2.9 pp | +15% |
| 13 | Iron Mountain Incorporated | 3.5% | 0.31 → −0.11 | to loss | −2.0 pp | +101% |
| 14 | AvalonBay Communities, Inc. | 3.2% | 1.21 → 2.61 | +116% | +3.2 pp | +31% |
| 15 | CoStar Group, Inc. | 3.0% | 0.22 → 0.13 | −41% | −0.6 pp | −2% |
| 16 | Vivmark Residential | 2.8% | 0.45 → 0.38 | −16% | −0.5 pp | +24% |
| 17 | Ventas, Inc. | 2.7% | −0.18 → 0.05 | turned profitable | +1.5 pp | +53% |
| 18 | SBA Communications Corporation | 2.6% | 0.80 → 2.40 | +200% | +2.8 pp | +20% |
| 19 | Weyerhaeuser Company | 2.4% | 0.33 → 0.04 | −88% | −3.4 pp | +10% |
| 20 | Invitation Homes Inc. | 2.1% | 0.21 → 0.15 | −29% | −0.6 pp | +11% |
| Sector earnings growth | 100% | −23.5 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q2 2024, as market caps moved.
Joined the top 20 since Q2 2024
Left the top 20 since Q2 2024
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PLD | −42% | +8% | +29% | −28% | +40% | +101% | 0% | −33% | −24% | +9% | +67% | +88% |
| AMT | −30% | turned profitable | +172% | +88% | to loss | +1,356% | −47% | −59% | turned profitable | −33% | +77% | +138% |
| EQIX | +27% | +73% | −12% | +43% | +6% | to loss | +44% | +19% | +23% | turned profitable | +20% | +29% |
| WELL | turned profitable | turned profitable | +324% | +110% | +204% | +27% | +82% | +7% | −45% | −26% | +155% | −27% |
| PSA | −79% | +8% | −2% | −11% | −32% | +45% | −22% | −34% | +21% | −19% | +33% | +45% |
| O | −8% | −17% | −53% | 0% | −9% | −23% | +75% | −24% | +17% | +39% | +18% | +68% |
| SPG | +12% | +13% | +63% | +2% | −21% | −11% | −44% | +13% | +25% | +358% | +17% | −12% |
| DLR | +211% | turned profitable | +310% | −43% | −96% | +760% | −67% | +1,370% | +62% | −51% | +70% | −59% |
| CCI | −37% | −13% | −26% | −45% | +15% | to loss | to loss | +16% | +6% | turned profitable | turned profitable | sources disagree |
| EXR | −38% | −35% | −31% | −41% | −5% | +27% | +27% | +34% | −14% | +5% | −11% | +6% |
| CBRE | −56% | +520% | +11% | −34% | +20% | +2% | +32% | +69% | +66% | −12% | +98% | −3% |
| VICI | +62% | +14% | +10% | +3% | +27% | −19% | −11% | +15% | +1% | −2% | +61% | −41% |
| IRM | −53% | −77% | +14% | +29,900% | to loss | +263% | −78% | to loss | turned profitable | −14% | +786% | turned profitable |
| AVB | −66% | −1% | +16% | −31% | +116% | +16% | +36% | +6% | +3% | −41% | +39% | −41% |
| CSGP | +22% | −23% | −92% | −81% | −41% | −38% | to loss | −69% | to loss | −27% | turned profitable | outside |
| VMRK | −46% | +90% | +38% | +22% | −16% | +38% | −13% | +11% | +95% | −9% | −64% | −40% |
| VTR | outside | outside | outside | −82% | turned profitable | turned profitable | turned profitable | +218% | +205% | +15% | 0% | −7% |
| SBAC | −12% | +6% | +53% | −19% | +200% | +59% | +44% | +38% | −8% | +116% | −15% | −11% |
| WY | −21% | +1,913% | −24% | −23% | −88% | −63% | −31% | −50% | +186% | −9% | +100% | +92% |
| INVH | +62% | +31% | +15% | −45% | −29% | outside | +17% | +92% | +47% | outside | outside | +61% |