Market cap of leading residential real estate REITs in the U.S. 2019-2023
As of October 2023, the ten leading residential real estate investment trusts (REITs) in the United States had a combined market capitalization of about 148 billion U.S. dollars. Only two REITs in the list experienced an increase in market capitalization in 2023. The apartment REIT AvalonBay Communities, Inc., which was also the largest, saw its market cap fall from about 25.8 billion U.S. dollars to approximately 23.5 billion U.S. dollars between September 2022 and October 2023.
The REITs sector declined in 2022 after the market cap reached a record high in 2021. Consequently, the year-to-date total returns for all property segments were negative as of December 2022.