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Leading retail real estate investment trusts (REITs) in the United States from 2019 to 2025, by market capitalization (in billion U.S. dollars)

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Source

Release date

December 2025

Region

United States

Survey time period

November 2019, November 2020, December 2021, December 2022, December 2023, December 2024, October 2025

Special properties

REITs in the FTSE Nareit All REITs Index and S&P Equity Indexes

Supplementary notes

*Formerly National Retail Properties, Inc.

Citation formats

Market cap of leading retail REITs in the U.S. 2019-2025

Published by ÌÇÐÄÆƽâ°æ Research Department, Feb 5, 2026

As of October 2025, the 10 leading retail real estate investment trusts (REITs) in the United States had a combined market capitalization of about billion U.S. dollars. Four REITs in the list saw their market caps increase in 2025. The largest retail REIT, Simon Property Group, saw its market cap rise from **** billion U.S. dollars to **** billion U.S. dollars between December 2024 and October 2025. Despite the REIT sector compressing in 2022, the three year-returns of most REITs remained positive.

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Topics

Retail real estate market in the U.S.Foreign property investment in the U.S.Commercial real estate in the U.S.Office real estate in the U.S.Industrial and logistics real estate in the U.S.
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