Inve US β–Ύ

Sector analysis Β· US

Real Estate: which companies drove growth

The 20 largest Real Estate companies by market cap at the end of Q2 2026 (30 Jun 2026), compared with Q2 2025.

The top 20 at Q2 2026

Q2 2026 vs Q2 2025: combined net profit $6.6B (+5%), median EPS βˆ’5% (9 of 19 up), market-cap-weighted price +8%. 20 of 20 reported.

Quarter
Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Compared with
YoYQoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#CompanyWeightEPS $, base β†’ nowEPS growthContributionPrice
1Welltower Inc.WELL15.2%0.45 β†’ 0.33βˆ’27% one source βˆ’1.0 pp+40%
2Prologis, Inc.PLD12.1%0.60 β†’ 1.13+88% one source +7.8 pp+29%
3Equinix, Inc.EQIX9.8%3.75 β†’ 4.83+29% +1.8 pp+30%
4American Tower CorporationAMT7.3%0.78 β†’ 1.86+138% one source +7.9 ppβˆ’26%
5Simon Property Group, Inc.SPG6.9%1.70 β†’ 1.49βˆ’12% one source βˆ’1.2 pp+39%
6Digital Realty Trust, Inc.DLR5.9%2.94 β†’ 1.21βˆ’59% one source βˆ’9.1 pp0%
7Realty Income CorporationO5.4%0.22 β†’ 0.37+68% one source +3.2 pp+3%
8Public StoragePSA5.3%1.76 β†’ 2.55+45% +2.2 pp+8%
9Ventas, Inc.VTR4.0%0.15 β†’ 0.14βˆ’7% one source +0.1 pp+37%
10CBRE Group, Inc.CBRE3.8%0.71 β†’ 0.69βˆ’3% βˆ’0.2 ppβˆ’3%
11Iron Mountain IncorporatedIRM3.6%βˆ’0.15 β†’ 0.34turned profitable one source +2.3 pp+22%
12Crown Castle Inc.CCI3.2%β€” β†’ 0.71sources disagree β€”βˆ’26%
13Extra Space Storage Inc.EXR2.9%1.18 β†’ 1.25+6% +0.2 ppβˆ’6%
14VICI Properties Inc.VICI2.7%0.82 β†’ 0.48βˆ’41% βˆ’5.3 ppβˆ’21%
15AvalonBay Communities, Inc.AVB2.5%1.88 β†’ 1.10βˆ’41% βˆ’1.8 ppβˆ’8%
16Vivmark ResidentialVMRK Β· since delisted2.4%0.50 β†’ 0.30βˆ’40% one source βˆ’1.2 ppβˆ’1%
17Essex Property Trust, Inc.ESS1.8%3.44 β†’ 0.97βˆ’72% one source βˆ’2.5 pp+3%
18SBA Communications CorporationSBAC1.8%2.09 β†’ 1.87βˆ’11% βˆ’0.4 ppβˆ’25%
19Invitation Homes Inc.INVH1.7%0.23 β†’ 0.37+61% +1.2 ppβˆ’6%
20Weyerhaeuser CompanyWY1.6%0.12 β†’ 0.23+92% +1.2 ppβˆ’7%
Sector earnings growth100%+5.1 pp

Who joined and who left

1 joined and 1 left the top 20 since Q1 2026, as market caps moved.

Joined the top 20 since Q1 2026 1

Left the top 20 since Q1 2026 1

  • was #19 CoStar Group, Inc. CSGP

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.

≀ βˆ’40%βˆ’20%0+20%β‰₯ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at Β±40%.
  • turned profitableto loss crossed zero, so there is no growth rate to print
  • loss, smallerloss, bigger a loss in both quarters
  • sources disagree our two sources disagree, so the figure is left out of the sector totals
  • outside not in the sector's top 20 that quarter
EPS growth of each company in the sector's top 20, by quarter
CompanyQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
WELLturned profitableturned profitable+324%+110%+204%+27%+82%+7%βˆ’45%βˆ’26%+155%βˆ’27%
PLDβˆ’42%+8%+29%βˆ’28%+40%+101%0%βˆ’33%βˆ’24%+9%+67%+88%
EQIX+27%+73%βˆ’12%+43%+6%to loss+44%+19%+23%turned profitable+20%+29%
AMTβˆ’30%turned profitable+172%+88%to loss+1,356%βˆ’47%βˆ’59%turned profitableβˆ’33%+77%+138%
SPG+12%+13%+63%+2%βˆ’21%βˆ’11%βˆ’44%+13%+25%+358%+17%βˆ’12%
DLR+211%turned profitable+310%βˆ’43%βˆ’96%+760%βˆ’67%+1,370%+62%βˆ’51%+70%βˆ’59%
Oβˆ’8%βˆ’17%βˆ’53%0%βˆ’9%βˆ’23%+75%βˆ’24%+17%+39%+18%+68%
PSAβˆ’79%+8%βˆ’2%βˆ’11%βˆ’32%+45%βˆ’22%βˆ’34%+21%βˆ’19%+33%+45%
VTRoutsideoutsideoutsideβˆ’82%turned profitableturned profitableturned profitable+218%+205%+15%0%βˆ’7%
CBREβˆ’56%+520%+11%βˆ’34%+20%+2%+32%+69%+66%βˆ’12%+98%βˆ’3%
IRMβˆ’53%βˆ’77%+14%+29,900%to loss+263%βˆ’78%to lossturned profitableβˆ’14%+786%turned profitable
CCIβˆ’37%βˆ’13%βˆ’26%βˆ’45%+15%to lossto loss+16%+6%turned profitableturned profitablesources disagree
EXRβˆ’38%βˆ’35%βˆ’31%βˆ’41%βˆ’5%+27%+27%+34%βˆ’14%+5%βˆ’11%+6%
VICI+62%+14%+10%+3%+27%βˆ’19%βˆ’11%+15%+1%βˆ’2%+61%βˆ’41%
AVBβˆ’66%βˆ’1%+16%βˆ’31%+116%+16%+36%+6%+3%βˆ’41%+39%βˆ’41%
VMRKβˆ’46%+90%+38%+22%βˆ’16%+38%βˆ’13%+11%+95%βˆ’9%βˆ’64%βˆ’40%
ESSoutsideoutsideoutsideoutsideoutsideoutsideoutsideoutsideoutsideβˆ’69%βˆ’48%βˆ’72%
SBACβˆ’12%+6%+53%βˆ’19%+200%+59%+44%+38%βˆ’8%+116%βˆ’15%βˆ’11%
INVH+62%+31%+15%βˆ’45%βˆ’29%outside+17%+92%+47%outsideoutside+61%
WYβˆ’21%+1,913%βˆ’24%βˆ’23%βˆ’88%βˆ’63%βˆ’31%βˆ’50%+186%βˆ’9%+100%+92%