Built environment ranking
Top 25 largest US-listed real estate investment trusts by revenue 2026
Welltower is the largest US-listed company in this group, with revenue of USD 10.8 billion in its fiscal year ending 31 December 2025. The list ranks the 25 largest of 144 US-listed real estate investment trusts by revenue reported for their latest full fiscal year.
Top 10 at a glance
The full list
| Rank | Company | Headquarters | Revenue, latest full fiscal year (USD million) |
|---|---|---|---|
| 1 | Welltower | United States | 10,838 |
| 2 | American Tower | United States | 10,644.6 |
| 3 | Equinix | United States | 9,217 |
| 4 | Prologis | United States | 8,790.1 |
| 5 | Weyerhaeuser | United States | 6,905 |
| 6 | Iron Mountain | United States | 6,901.7 |
| 7 | Simon Property Group | United States | 6,364.5 |
| 8 | Host Hotels & Resorts | United States | 6,114 |
| 9 | Digital Realty Trust | United States | 6,112.7 |
| 10 | Ventas | United States | 5,834 |
| 11 | Realty Income | United States | 5,749.4 |
| 12 | Lineage | United States | 5,355 |
| 13 | Public Storage | United States | 4,824.1 |
| 14 | Rithm Capital | United States | 4,590.2 |
| 15 | Crown Castle | United States | 4,264 |
| 16 | VICI Properties | United States | 4,006.1 |
| 17 | BXP | United States | 3,482.3 |
| 18 | Extra Space Storage | United States | 3,377.5 |
| 19 | Alexandria Real Estate Equities | United States | 3,026.6 |
| 20 | Healthpeak Properties | United States | 2,822.5 |
| 21 | SBA Communications | United States | 2,815.1 |
| 22 | Americold Realty Trust | United States | 2,601.8 |
| 23 | Ryman Hospitality Properties | United States | 2,577.1 |
| 24 | Lamar Advertising | United States | 2,266.2 |
| 25 | American Healthcare REIT | United States | 2,260.1 |
How this list is built
Revenue is total revenue as reported in each company's annual financial statements for its latest full fiscal year filed by 9 November 2026, in US dollars; fiscal years differ, so each entry shows its fiscal year end. Companies are included if their shares trade on a US stock exchange and their primary Standard Industrial Classification code is 6798; companies that report in another currency, including IFRS reporters that do not report in US dollars, are not included, and each figure was checked against the prior year, other reported revenue lines and total assets. Where a listed parent and a listed subsidiary both qualify only the parent is ranked, two listed entities that report the same consolidated results are counted once, and ties share a rank.
Every position is set by the data alone, by the same rules for every company. Spotted something to update? Write to info@stratummarketresearch.com with the list and the line, and we correct it within two working days.
For ranked companies: a free badge
Ranked companies can show this badge on their website, in a press release or on LinkedIn at no cost. Pick your company, then copy the code.
Frequently asked questions
Who is number one in the real estate investment trusts by revenue ranking?
Welltower ranks first with 10,838 USD million (Latest full fiscal year reported by 9 November 2026 (fiscal years ending 31 December 2025 to 31 December 2025)).
How is this ranking calculated?
Revenue is total revenue as reported in each company's annual financial statements for its latest full fiscal year filed by 9 November 2026, in US dollars; fiscal years differ, so each entry shows its fiscal year end. Companies are included if their shares trade on a US stock exchange and their primary Standard Industrial Classification code is 6798; companies that report in another currency, including IFRS reporters that do not report in US dollars, are not included, and each figure was checked against the prior year, other reported revenue lines and total assets. Where a listed parent and a listed subsidiary both qualify only the parent is ranked, two listed entities that report the same consolidated results are counted once, and ties share a rank.
Can a company pay to rank higher?
Positions come only from the counts described above, and inclusion is free. Every company is ranked by the same rules.
How often is the ranking updated?
Every list is recomputed each quarter from the latest public records, and the update date is printed on the page.
Can a ranked company use the badge?
Yes. Every ranked company can use the free web badge on this page on its website, in press releases and on social media.
Custom research
Looking for a specific market?
Tell us the market, the region and the decision you are making. We reply within one working day with a scope and a date.