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The FTSE Nareit All Equity REITs index is a free-float adjusted, market capitalization-weighted index of equity real estate investment trusts (REITs) in the United States. As of October 2025, the market cap of the index was *** trillion U.S. dollars, up from *** trillion U.S. dollars in December 2022. To be included in the index, the 140 constituents have to have more than ** percent of total assets in qualifying real estate assets other than mortgages secured by real property. Infrastructure, residential, and retail real estate are the largest REIT segments: Retail real estate REITs had a market cap of *** billion U.S. dollars as of October 2025, while industrial had a market cap of over billion U.S. dollars. The number of REITs has remained fairly constant in recent years, but the market cap has increased notably.