Sector analysis · US
Real Estate: which companies drove growth
The 20 largest Real Estate companies by market cap at the end of Q2 2025 (30 Jun 2025), compared with Q2 2024.
The top 20 at Q2 2025
Q2 2025 vs Q2 2024: combined net profit $6.3B (+7%), median EPS +12% (13 of 20 up), market-cap-weighted price +10%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | American Tower Corporation | 10.7% | 1.92 → 0.78 | −59% | −9.1 pp | +14% |
| 2 | Welltower Inc. | 10.7% | 0.42 → 0.45 | +7% | +0.8 pp | +49% |
| 3 | Prologis, Inc. | 10.1% | 0.90 → 0.60 | −33% | −4.9 pp | −6% |
| 4 | Equinix, Inc. | 8.1% | 3.16 → 3.75 | +19% | +1.1 pp | +5% |
| 5 | Digital Realty Trust, Inc. | 6.2% | 0.20 → 2.94 | +1,370% | +16.2 pp | +16% |
| 6 | Realty Income Corporation | 5.5% | 0.29 → 0.22 | −24% | −1.1 pp | +10% |
| 7 | Simon Property Group, Inc. | 5.5% | 1.51 → 1.70 | +13% | +1.1 pp | +6% |
| 8 | Public Storage | 5.3% | 2.66 → 1.76 | −34% | −2.7 pp | +2% |
| 9 | Crown Castle Inc. | 4.6% | 0.58 → 0.67 | +16% | +0.7 pp | +5% |
| 10 | CBRE Group, Inc. | 4.3% | 0.42 → 0.71 | +69% | +1.4 pp | +55% |
| 11 | VICI Properties Inc. | 3.6% | 0.71 → 0.82 | +15% | +2.1 pp | +15% |
| 12 | CoStar Group, Inc. | 3.5% | 0.05 → 0.01 | −69% | −0.2 pp | +8% |
| 13 | Extra Space Storage Inc. | 3.2% | 0.88 → 1.18 | +34% | +1.1 pp | −5% |
| 14 | Iron Mountain Incorporated | 3.1% | 0.12 → −0.15 | to loss | −1.4 pp | +16% |
| 15 | AvalonBay Communities, Inc. | 3.0% | 1.78 → 1.88 | +6% | +0.3 pp | −2% |
| 16 | Ventas, Inc. | 3.0% | 0.05 → 0.15 | +218% | +0.8 pp | +23% |
| 17 | Vivmark Residential | 2.7% | 0.45 → 0.50 | +11% | +0.3 pp | 0% |
| 18 | SBA Communications Corporation | 2.6% | 1.51 → 2.09 | +38% | +1.1 pp | +19% |
| 19 | Invitation Homes Inc. | 2.1% | 0.12 → 0.23 | +92% | +1.1 pp | −8% |
| 20 | Weyerhaeuser Company | 1.9% | 0.24 → 0.12 | −50% | −1.5 pp | −10% |
| Sector earnings growth | 100% | +7.2 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q1 2025, as market caps moved.
Joined the top 20 since Q1 2025
Left the top 20 since Q1 2025
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AMT | −30% | turned profitable | +172% | +88% | to loss | +1,356% | −47% | −59% | turned profitable | −33% | +77% | +138% |
| WELL | turned profitable | turned profitable | +324% | +110% | +204% | +27% | +82% | +7% | −45% | −26% | +155% | −27% |
| PLD | −42% | +8% | +29% | −28% | +40% | +101% | 0% | −33% | −24% | +9% | +67% | +88% |
| EQIX | +27% | +73% | −12% | +43% | +6% | to loss | +44% | +19% | +23% | turned profitable | +20% | +29% |
| DLR | +211% | turned profitable | +310% | −43% | −96% | +760% | −67% | +1,370% | +62% | −51% | +70% | −59% |
| 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% |
| PSA | −79% | +8% | −2% | −11% | −32% | +45% | −22% | −34% | +21% | −19% | +33% | +45% |
| CCI | −37% | −13% | −26% | −45% | +15% | to loss | to loss | +16% | +6% | turned profitable | turned profitable | sources disagree |
| 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% |
| CSGP | +22% | −23% | −92% | −81% | −41% | −38% | to loss | −69% | to loss | −27% | turned profitable | outside |
| EXR | −38% | −35% | −31% | −41% | −5% | +27% | +27% | +34% | −14% | +5% | −11% | +6% |
| 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% |
| VTR | outside | outside | outside | −82% | turned profitable | turned profitable | turned profitable | +218% | +205% | +15% | 0% | −7% |
| VMRK | −46% | +90% | +38% | +22% | −16% | +38% | −13% | +11% | +95% | −9% | −64% | −40% |
| SBAC | −12% | +6% | +53% | −19% | +200% | +59% | +44% | +38% | −8% | +116% | −15% | −11% |
| INVH | +62% | +31% | +15% | −45% | −29% | outside | +17% | +92% | +47% | outside | outside | +61% |
| WY | −21% | +1,913% | −24% | −23% | −88% | −63% | −31% | −50% | +186% | −9% | +100% | +92% |