25 Biggest Real Estate Companies in the US in 2024

Published on May 6, 2024 at 2:38 pm by Zarah Hamid in Business, Industries, Lists, News

In this article, we will be covering the 25 biggest real estate companies in the US in 2024. If you wish to skip our detailed analysis, you can move directly to the 5 Biggest Real Estate Companies in the US in 2024.

Latest Developments in the US Real Estate Market

The US real estate market has long been subject to high mortgage rates and soaring home prices. As reported by CNBC on April 30, home prices in February increased 6.4% year over year. With all-time high prices in major cities including San Diego, Los Angeles, Washington, D.C., and New York, affordability concerns continue to arise. Regarding housing affordability, we have also discussed the least affordable metros for homebuyers in the US.

Monthly price appreciation has been reported in expensive West Coast metros where the inventory remains restricted and has not yet recovered since the pandemic. The highest monthly home value growth from February to March was recorded at 3.3% for San Jose, 2.7% for San Francisco, 2.4% for Seattle, 2.1% for San Diego, and 2% for Los Angeles. These are the five US metros where homeowners are most subject to a mortgage rate lock-in effect, which is when existing homeowners feel reluctant to sell their homes since they will have to purchase at higher rates. Buyers tend to compete for fewer choices in such markets with limited supply. On the other hand, existing inventory has improved in the Southern metros thereby easing the rapid price appreciation. New construction has also added to the choices in these housing markets. Some of the affordable, promising cities to buy real estate in 2024 have been previously covered.

As of March, total inventory has increased by 12.2% year over year. However, the inventory levels are still 36.4% lower as compared to the pre-pandemic period. New listings have also gone up by 3.7% since 2023, still falling behind the pre-pandemic levels by 25.4%. Therefore, strong demand and tight supply continue to drive home values up in the US.

Major Players in the Real Estate Market

Some of the dominant real estate companies in the US include Equinix, Inc. (NASDAQ:EQIX), Prologis, Inc. (NYSE:PLD), and Keller Williams Realty. Let’s take a look at what these companies have been up to.

Equinix, Inc. (NASDAQ:EQIX) serves as one of the largest global data center and colocation providers for enterprise network and cloud computing. On April 15, Equinix, Inc. (NASDAQ:EQIX) reported that it entered into a $600 million joint venture with PGIM Real Estate to develop the first xScale data center in the United States. The two-story facility in the Silicon Valley region of California will be made in two phases. The first phase is scheduled to be completed in the second quarter of 2024. The facility will be providing more than 28 megawatts of power capacity at full build-out.

Prologis, Inc. (NYSE:PLD) is a global leader in logistics real estate which offers a premier portfolio of more than 1 billion square feet of logistics space across 19 countries on 4 continents. Its logistics real estate locations are spread across North America, Europe, Asia, and Latin America. On April 17, the company reported its financial results for the first quarter of 2024. Prologis, Inc. (NYSE:PLD) reported net earnings per share of $0.63 while the core funds from operations (FFO) per share was $1.28 for the quarter. The company’s revenue for the quarter amounted to $1.83 billion, up 11.87% year-over-year. Here are some comments from Prologis, Inc.’s (NYSE:PLD) Q1 2024 earnings call:

“We’ve had a good start to the year in terms of our operating and financial results in the first quarter. We delivered strong rent change, drove occupancy slightly ahead of our forecast, raised nearly $5 billion in capital, including $750 million in strategic capital, and made important headway in our Energy business.

We also had a successful equity raise in FIBRA Prologis, raising over $500 million for deployment into both assets to be contributed from our balance sheet, as well as pursuits of third-party acquisitions. Transaction volumes and activity have ticked up in recent weeks and pricing has certainly improved. As always, we are actively looking at acquisition opportunities across all of our markets, but our focus remains on the development of our land bank, which provides an opportunity for over $38 billion of build out with a return on incremental capital of approximately 8.5%. In terms of guidance, in light of our views on demand and leasing pace in the coming quarters, we are reducing our average occupancy guidance to range between 95.75% and 96.75% of the 75 basis point adjustment from the midpoint.”

Keller Williams Realty operates as the world’s largest real estate franchise by agent count. On March 27, the company reported its expansion to the Bahamas. Keller Williams Bahamas is expected to open its first market center in the second quarter of 2024. The company also has a presence in other Caribbean regions such as Jamaica, Puerto Rico, Bermuda, Turks and Caicos, the Dominican Republic, Aruba, Sint Maarten, Bonaire, and Curaçao. Keller Williams Worldwide (KWW), the international division of Keller Williams, has more than 19,000 agents operating outside the United States and Canada, as of February. It is also looking into expanding across Africa, Central and South America, Central and Eastern Europe, and Asia.

You can also take a look at the best real estate ETFs to buy now. Without further ado, let’s move to the 25 biggest real estate companies in the US in 2024.

25 Biggest Real Estate Companies in the US in 2024

Our Methodology:

In order to compile a list of the 25 biggest real estate companies in the US in 2024, we utilized industry reports as well as stock screeners. Initially, we used the Yahoo Finance screener and Finviz to shortlist the largest public real estate companies in the United States. Market capitalization was used to rank these companies and was sourced from Yahoo Finance, as of May 2. We further expanded our research to include private real estate companies operating in the US by reviewing multiple rankings and industry reports. We have used the estimated valuation from major media reports based on the company’s latest funding round, the annual revenue from the latest fiscal year (from official statements), or the number of company employees (from official statements) as a metric to rank private companies. Subject to the availability of data, one of the above metrics has been used to include private companies in our list. Finally, we ranked the 25 biggest real estate companies in the US in 2024 in ascending order of their market capitalizations or the aforementioned alternative metrics for private companies.

25 Biggest Real Estate Companies in the US in 2024

25. Sun Communities, Inc. (NYSE:SUI)

Market Capitalization: $14.5 Billion

The fully integrated real estate investment trust, Sun Communities, Inc. (NYSE:SUI), ranks among the largest real estate companies in the US. The company offers all-age communities that boast amenities for every age as well as active 55+ communities with high-end features. As of May 2, Sun Communities, Inc. (NYSE:SUI) is worth $14.5 billion on the open market.

24. Mid-America Apartment Communities, Inc. (NYSE:MAA)

Market Capitalization: $15.4 Billion

Mid-America Apartment Communities, Inc. (NYSE:MAA) is another real estate investment trust that ranks as one of the largest real estate companies in the US. As of May 2, the company has a market capitalization of $15.4 billion. Mid-America Apartment Communities, Inc. (NYSE:MAA) engages in the ownership, management, acquisition, development, and redevelopment of quality apartment communities. As of March, the REIT had ownership in 102,661 apartment homes across 16 US states and the District of Columbia.

23. Essex Property Trust, Inc. (NYSE:ESS)

Market Capitalization: $16.0 Billion

Essex Property Trust, Inc. (NYSE:ESS) operates as a fully integrated real estate investment trust. The company acquires, develops, redevelops, and manages apartment communities in supply-constrained US markets including Southern California, the San Francisco Bay Area, and the Seattle metropolitan area. As of May 2, Essex Property Trust, Inc. (NYSE:ESS) is worth $16.0 billion and ranks among the largest real estate companies in the US.

22. Ventas, Inc. (NYSE:VTR)

Market Capitalization: $18.7 Billion

Ventas, Inc. (NYSE:VTR) is a real estate investment trust that has a real estate portfolio of approximately 1,400 properties in the United States, Canada, and the United Kingdom. As of 2023’s fourth quarter, the company’s portfolio comprises 815 senior housing communities, 409 outpatient medical buildings, 44 skilled nursing facilities, 10 health systems, and 3 international hospitals. Ventas, Inc. (NYSE:VTR) has a current market valuation of $18.7 billion.

21. SBA Communications Corporation (NASDAQ:SBAC)

Market Capitalization: $20.40 Billion

SBA Communications Corporation (NASDAQ:SBAC) ranks as one of the top real estate investment trusts in the United States based on its market capitalization. The company is an independent owner and operator of wireless communications infrastructure. This infrastructure includes towers, buildings, rooftops, distributed antenna systems, and small cells. The presence of SBA Communications Corporation (NASDAQ:SBAC) spans across the Americas, Africa, and Asia. As of May 2, the company has a market capitalization of $20.40 billion.

20. Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Market Capitalization: $20.43 Billion

Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a real estate investment trust that has been serving as the pioneer of the life science real estate niche since its inception in 1994. The company is an owner, operator, and developer of collaborative life science mega campuses. Additionally, Alexandria Real Estate Equities, Inc. (NYSE:ARE) provides strategic capital to transformative life science companies. The company is valued at $20.43 billion, as of May 2.

19. Invitation Homes Inc. (NYSE:INVH)

Market Capitalization: $20.9 Billion

Invitation Homes Inc. (NYSE:INVH) is a premier single-family home leasing and management company based in the United States. The company has a focus on the Western US, the Southeast, Texas, and Florida. Numerous options to lease an updated home in a desirable neighborhood are offered by the firm thereby allowing more than 80,000 people to live in their desired homes without having to worry about a mortgage. As of May 2, Invitation Homes Inc. (NYSE:INVH) is worth $20.9 billion and ranks as one of the largest real estate companies in the United States.

18. Weyerhaeuser Company (NYSE:WY)

Market Capitalization: $22.0 Billion

Weyerhaeuser Company (NYSE:WY) serves as one of the largest private landholders in the United States. Some of the company’s lands are available for purchase through a network of local, independent real estate brokers. Weyerhaeuser Company (NYSE:WY) is another prominent real estate company in the US and has a market capitalization of $22.0 billion, as of May 2.

17. Iron Mountain Incorporated (NYSE:IRM)

Market Capitalization: $22.89 Billion

Iron Mountain Incorporated (NYSE:IRM) operates primarily as a real estate investment trust and focuses on storage and information management services. The company’s services include asset lifecycle management, digital solutions, records and information management, and warehousing and logistics. Iron Mountain Incorporated (NYSE:IRM) is currently worth $22.89 billion and serves as one of the major real estate companies in the United States.

16. Equity Residential (NYSE:EQR)

Market Capitalization: $24.3 Billion

Equity Residential (NYSE:EQR) is a publicly traded real estate investment trust that invests in apartments. The company’s properties are situated in numerous US markets including Manhattan, Boston, Washington DC, San Francisco, Los Angeles, and Seattle. As of May 2, Equity Residential (NYSE:EQR) is worth $24.3 billion on the open market and ranks among the largest real estate companies in the US.

15. CBRE Group, Inc. (NYSE:CBRE)

Market Capitalization: $26.5 Billion

CBRE Group, Inc. (NYSE:CBRE) serves as one of the largest commercial property developers in the United States. The company serves clients in over 100 countries around the world and helps invest in real estate, design and build transformational spaces, and manage properties and portfolios. CBRE Group, Inc. (NYSE:CBRE) ranks as another major real estate company in the US and is worth $26.5 billion, as of May 2.

14. AvalonBay Communities, Inc. (NYSE:AVB)

Market Capitalization: $26.7 Billion

AvalonBay Communities, Inc. (NYSE:AVB) is a real estate investment trust that is engaged in developing, redeveloping, acquiring, and managing multifamily communities in the United States. The company has a market valuation of $26.7 billion, as of May 2. As of 2023, AvalonBay Communities, Inc. (NYSE:AVB) has a direct or indirect ownership interest in 299 apartment communities in 12 US states and the District of Columbia.

13. VICI Properties Inc. (NYSE:VICI)

Market Capitalization: $30.1 Billion

The 25 largest real estate companies in the US include VICI Properties Inc. (NYSE:VICI) which is an experiential real estate investment trust. The company owns 54 gaming properties and 39 other experiential properties across the United States and Canada. Under long-term, triple-net lease agreements, the company’s properties are occupied by industry-leading gaming, leisure, and hospitality operators. As of May 2, VICI Properties Inc. (NYSE:VICI) has a market capitalization of $30.1 billion.

12. Extra Space Storage, Inc. (NYSE:EXR)

Market Capitalization: $30.4 Billion

Extra Space Storage, Inc. (NYSE:EXR) is a self-managed real estate investment trust based in Salt Lake City, Utah. The company serves as one of the most dominant operators of self-storage properties in the United States and owns or operates more than 3,500 self-storage properties. As of May 2, Extra Space Storage, Inc. (NYSE:EXR) is worth $30.4 billion and ranks among the largest real estate companies in America.

11. CoStar Group, Inc. (NASDAQ:CSGP)

Market Capitalization: $36.9 Billion

CoStar Group, Inc. (NASDAQ:CSGP) has a current market capitalization of $36.9 billion and ranks as another large real estate firm in the US. Digitizing global real estate, the company is a provider of commercial and residential real estate information, analytics, and online marketplaces. Some of the brands of CoStar Group, Inc. (NASDAQ:CSGP) include Apartments.com, Ten-X, LoopNet, CoStar, and Homes.com.

10. Crown Castle Inc. (NYSE:CCI)

Market Capitalization: $41.4 Billion

Crown Castle Inc. (NYSE:CCI) is a real estate investment trust and has 30 years of experience in owning and operating network assets. The company operates as the largest provider of shared communications infrastructure in the United States. It aimed to provide the US wireless carriers with the real estate required for running their networks after officially becoming a REIT in January 2014. As of May 2, Crown Castle Inc. (NYSE:CCI) is worth $41.4 billion.

9. Digital Realty Trust, Inc. (NYSE:DLR)

Market Capitalization: $44.0 Billion

Digital Realty Trust, Inc. (NYSE:DLR) ranks among the biggest real estate companies in the US in 2024. The company operates as a real estate investment trust that owns, operates, and invests in carrier-neutral data centers across the world. It offers data center, colocation, and interconnection solutions and has a presence on six continents in more than 25 countries and greater than 50 metro areas. Digital Realty Trust, Inc. (NYSE:DLR) has a market valuation of $44.0 billion, as of May 2.

8. Public Storage (NYSE:PSA)

Market Capitalization: $45.8 Billion

Public Storage (NYSE:PSA) ranks among the 25 largest real estate companies in the US in 2024. The company has a market capitalization of $45.8 billion, as of May 2. It serves as the largest owner and operator of self-storage facilities globally. The firm provides storage units for personal, business and vehicle needs across the United States with some of its locations in Houston, Dallas, Los Angeles, Austin, Miami, and Tampa. Simultaneously, Public Storage (NYSE:PSA) has 170 million net rentable square feet of real estate which makes it one of the biggest landlords.

7. Realty Income Corporation (NYSE:O)

Market Capitalization: $46.4 Billion

Realty Income Corporation (NYSE:O) invests in diversified commercial real estate. The company’s portfolio includes more than 15,450 properties in all 50 US states and in seven European countries. Realty Income Corporation (NYSE:O) has a primary focus on freestanding retail and industrial properties. The company’s market capitalization is $46.4 billion, as of May 2, which ranks it as one of the largest real estate companies in the US.

6. Simon Property Group, Inc. (NYSE:SPG)

Market Capitalization: $52.5 Billion

Simon Property Group, Inc. (NYSE:SPG) operates as an American real estate investment trust and has properties in North America, Europe, and Asia. The company engages in the ownership of premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes more than 250 iconic global properties such as The Shops at Crystals, Woodbury Common Premium Outlets, and Sawgrass Mills. Furthermore, Simon Property Group, Inc. (NYSE:SPG) is worth $52.5 billion, as of May 2.

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