The following list presents the five biggest REITs in the United States, as of January 2003. All of them are listed for trade in the NYSE.
REIT: Equity Residential Properties.
Specialization: Residential Property.
Market Cap: 14.31 Billion Dollars.
Description: This REIT focuses on apartment buildings and multifamily housing. It owns approximately 1,000 buildings, made up of around 225,000 housing units. These properties are spread out in 37 different states.
REIT: Simon Property Group.
Specialization: Commercial Property.
Market Cap: 27 Billion Dollars.
Description: Simon Property Group owns commercial real estate, mostly devoted to retail sales. It owns 173 malls and 68 shopping centers across the US. In addition, it holds 5 multipurpose properties which contain both shopping and office space, and commercial real estate in Canada and Europe.
REIT: Plum Creek Timber Company.
Specialization: Forests for the Timber Industry.
Market Cap: 5.75 Billion Dollars.
Description: The Plum Creek Timber Company develops and utilizes forested areas for the timber industry. It owns forests that range over 6.6 million acres, in 20 different US states. The REIT also is active in selling rights to lay communications wires across open lands.
REIT: Prologis Trust.
Specialization: Industrial Distribution Centers.
Market Cap: 5.33 Billion Dollars.
Description: This trust specializes in preparing and developing industrial distribution centers. It owns about 1,500 properties covering 180 million square feet. These properties are located in the United States and in eight European countries. In addition, the trust holds special refrigerated distribution centers.