Market cap of REITs in the U.S. 1975-2023
The real estate investment trusts (REITs) market in the United States grew slightly in 2023, after plummeting in 2022. In 2023, the market cap of all REITs, including equity, mortgage, and hybrid, reached 1.37 trillion U.S. dollars. This was a decrease from the 1.74 trillion U.S. dollars recorded in 2021 when the market peaked. REITs are companies which own and operate real estate to generate income.
U.S. REIT sector
The number of REITs operating in the U.S. has fluctuated over the past 45 years, and in 2023 measured 195 firms. The number in operation has slightly fallen from its record high of 233 companies in 2015. REITs often specialize in a specific property type, with industrial and retail being the most popular asset types.
Global dominance of American REITs
The largest ten REITs worldwide were based in the United States in 2024. Prologis, a company specializing in logistics real estate, was the largest REIT globally in terms of market capitalization in that year.
