Top 10 ASX REITs to watch in 2026

Real estate investment trusts (REITs) own and manage income-producing property – logistics warehouses, shopping centres, office towers and, increasingly, data centres. The ten companies in this list take distinct approaches to that: Goodman Group ($GMG) centres its portfolio on industrial estates and data centres across 15 countries, while Scentre Group ($SCG) focuses on its 42 Westfield retail destinations across Australia and New Zealand.

How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$. Data updated as of 10 August 2026.

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1. Goodman Group ($GMG)

Goodman Group (GMG) share price over the last year: started at A$35.41, ended at A$29.93, a change of −15.5%. Range over the period: high A$36.14, low A$25.02. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $29.93 · Daily: -0.07% · Market cap: $61.24B · Sector: Real Estate · Industry: REITs

The properties Goodman Group ($GMG) owns and manages run from logistics centres and business parks to data centres – all positioned in major global cities across 15 countries. $GMG develops and manages these assets through three stapled entities: Goodman Limited, Goodman Industrial Trust, and Goodman Logistics (HK) Limited. The company describes the whole portfolio as infrastructure for the digital economy.

Five operating segments cover Australia and New Zealand, Asia (including Greater China and Japan), Continental Europe, the United Kingdom, and the Americas. European assets sit in Germany, France, Spain and the Netherlands; in the Americas, the primary focus is North America, with operations in Brazil as well. Greg Goodman leads a team of 1,030 people across those markets.

2. Scentre Group ($SCG)

Scentre Group (SCG) share price over the last year: started at A$3.84, ended at A$3.97, a change of +3.4%. Range over the period: high A$4.23, low A$3.32. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $3.97 · Daily: -0.3% · Market cap: $20.74B · Sector: Real Estate · Industry: Real Estate Ops

The 42 Westfield destinations that Scentre Group ($SCG) owns and operates are spread across Australia and New Zealand – 37 on the mainland and five across the Tasman. At its core, $SCG is a landlord, but the business extends well beyond collecting rent.

Retailers can tap into $SCG's suite of services – marketing tools, gift cards and centre management support – through what the company calls its retail services platform. The BrandSpace offering adds an advertising dimension, giving businesses access to over 1,800 full-motion digital screens and pop-up retail touchpoints positioned throughout the centres.

$SCG runs two formal business segments: Property Investment, which owns and operates the shopping centres, and Property Management and Construction, which earns fees from third parties for managing and developing property. Elliott Rusanow is chief executive, and the company employs 2,799 people.

That combination of property ownership and management services means $SCG earns income both from its own assets and from clients it manages property for – a structure that sits alongside, rather than purely within, a conventional property-owning trust.

3. Vicinity Centres ($VCX)

Vicinity Centres (VCX) share price over the last year: started at A$2.51, ended at A$2.71, a change of +8.0%. Range over the period: high A$2.72, low A$2.26. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $2.71 · Daily: 0.0% · Market cap: $12.58B · Sector: Real Estate · Industry: REITs

Vicinity Centres ($VCX) owns and manages around 51 shopping centres across Australia, with $24 billion in retail assets under management. Its portfolio covers different formats – from DFO outlet centres to shopping destinations like Chadstone, Emporium Melbourne, Queen Victoria Building and QueensPlaza.

Beyond its direct holdings, $VCX manages 26 assets on behalf of external Strategic Partners. Its commercial arm handles leasing, advertising and pop-up retail, and a development pipeline covers future projects at sites including Box Hill Central, Chatswood Chase Sydney and further stages at Chadstone.

4. Charter Hall Group ($CHC)

Charter Hall Group (CHC) share price over the last year: started at A$21.70, ended at A$23.80, a change of +9.7%. Range over the period: high A$25.87, low A$18.47. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $23.80 · Daily: -0.4% · Market cap: $11.26B · Sector: Real Estate · Industry: Real Estate Ops

Charter Hall Group ($CHC) sits across two distinct roles in Australian property: it owns property directly through its funds, and it manages those funds on behalf of third-party investors. That dual structure means $CHC earns both from its own property holdings and from the fees it charges to run other people's capital.

The portfolio covers a wide range of property types – city offices, industrial and logistics sheds, supermarket-anchored retail centres and social infrastructure like early learning centres. Tenants in the portfolio include Ampol, Bunnings and Coles, which gives a sense of the mix between large commercial leases and everyday-use assets.

Under CEO David Harrison, the company operates through three segments: property investments, development investments and funds management. That last segment, funds management, is where $CHC generates income from managing assets on behalf of institutional and retail investors rather than just collecting rent from its own balance sheet.

5. Stockland Corporation ($SGP)

Stockland Corporation (SGP) share price over the last year: started at A$5.64, ended at A$4.32, a change of −23.4%. Range over the period: high A$6.73, low A$3.72. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $4.32 · Daily: 0.5% · Market cap: $10.50B · Sector: Real Estate · Industry: Real Estate Ops

Stockland Corporation ($SGP) covers more ground than most in this list – it develops residential land and housing, runs masterplanned and land lease communities, and manages a portfolio of retail town centres alongside logistics and workplace properties. That spread sits across three segments: Development, which handles everything from house-and-land packages to mixed-use projects; Investment Management, which holds and runs commercial and residential assets on behalf of capital partners; and a funds management arm that earns fees for managing third-party capital.

Under chief executive Tarun Gupta, $SGP also operates a capital partnership platform, which lets external investors take stakes in its assets rather than Stockland holding everything on its own balance sheet. The result is a business that touches the full arc of a community – from the raw land to the shopping centre and industrial estate that eventually surround it.

6. GPT Group ($GPT)

GPT Group (GPT) share price over the last year: started at A$5.17, ended at A$5.25, a change of +1.5%. Range over the period: high A$5.68, low A$4.44. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $5.25 · Daily: 0.0% · Market cap: $10.06B · Sector: Real Estate · Industry: REITs

GPT Group ($GPT) owns and manages a diversified property portfolio spread across retail, office and logistics assets in Australia. Its retail holdings include regional and subregional shopping centres like Charlestown Square, Macarthur Square and Rouse Hill Town Centre. On the office side, $GPT holds properties such as 580 George Street and 150 Collins Street, while its logistics portfolio covers a range of warehouse and distribution assets.

Beyond direct ownership, $GPT runs a funds management platform – the GPT Wholesale Shopping Centre Fund and related mandates – that manages retail and office properties on behalf of external investors. Russell Proutt serves as CEO.

7. Mirvac Group ($MGR)

Mirvac Group (MGR) share price over the last year: started at A$2.31, ended at A$1.80, a change of −22.1%. Range over the period: high A$2.44, low A$1.62. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $1.80 · Daily: -0.6% · Market cap: $7.10B · Sector: Real Estate · Industry: REITs

Mirvac Group ($MGR) covers more ground than most REITs in this list, moving across residential development, office, industrial and retail property – plus a growing build-to-rent segment. Under CEO Campbell Hanan, the company's roughly 1,651 employees manage everything from apartment and townhouse communities in New South Wales, Queensland, Victoria and Western Australia to a string of office towers in Sydney and Melbourne.

Its retail footprint includes Birkenhead Point Brand Outlet, a waterfront destination on a 3.7-hectare site just five kilometres from the Sydney CBD. The mix of development income and investment income gives $MGR a different revenue profile compared with REITs that purely own and lease stabilised assets.

8. Dexus ($DXS)

Dexus (DXS) share price over the last year: started at A$7.30, ended at A$6.06, a change of −17.0%. Range over the period: high A$7.73, low A$5.33. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $6.06 · Daily: 0.0% · Market cap: $6.50B · Sector: Real Estate · Industry: REITs

Office towers and industrial estates form the two property arms at the heart of Dexus ($DXS). The company owns and develops those assets directly and through joint ventures, with associated retail space and car parks often attached to the office portfolio.

What separates $DXS from a straightforward property owner is the services layer built alongside it. The company manages properties and runs capital on behalf of third-party clients through dedicated property management and funds management divisions. Chief executive Ross Du Vernet leads around 900 employees across all those activities.

9. Charter Hall Long WALE REIT ($CLW)

Charter Hall Long WALE REIT (CLW) share price over the last year: started at A$4.43, ended at A$3.82, a change of −13.8%. Range over the period: high A$4.65, low A$3.32. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $3.82 · Daily: -0.5% · Market cap: $2.75B · Sector: Real Estate · Industry: REITs

Charter Hall Long WALE REIT ($CLW) is built around a straightforward idea: own properties on long leases, and make sure the tenants are unlikely to walk away. WALE stands for weighted average lease expiry – the longer it is, the further into the future lease income is contractually locked in. $CLW's tenants include government bodies, multinationals and national retailers, all tied to long-term agreements across roughly 510 properties.

The portfolio stretches across retail, industrial and logistics, office space, data centres and social infrastructure. Specific properties include 242 Exhibition Street in Melbourne and the Louisa Lawson Building in Canberra, among a mix of civic and commercial assets. $CLW is externally managed by Charter Hall, with David Harrison as CEO.

10. LendLease Group ($LLC)

LendLease Group (LLC) share price over the last year: started at A$5.69, ended at A$3.16, a change of −44.5%. Range over the period: high A$5.92, low A$2.46. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $3.16 · Daily: 0.0% · Market cap: $2.18B · Sector: Real Estate · Industry: Real Estate Ops

Lendlease Group ($LLC) develops and manages mixed-use urban precincts and residential communities, pairing property development with investment management under the one roof. The development arm builds and sells large-scale projects, while the investment management side earns fees from institutional capital deployed into real estate assets. CEO Tony Lombardo has been directing $LLC toward its core Australian operations, pulling back from international and construction-heavy activities.

Because $LLC generates revenue through development margins and management fees rather than rent from a stabilised portfolio, its structure differs from a conventional REIT. Earnings track the development cycle more closely than the steady rental income streams that anchor most property trusts – which means the business carries a different rhythm of risk than the other names in this article.

Common questions

How do you invest in ASX REITs?

All ten names in this list trade directly on the ASX, so you buy them through any share trading platform that provides ASX access. The mechanics are the same as buying any listed share – search the ticker, place an order and settlement completes on the standard T+2 cycle. Some are structured as stapled securities, where a share in a management company is stapled to a unit in the underlying property trust and the two trade together as a single security.

What are the key risks of ASX REITs?

Interest rates are a significant pressure point for the sector. Higher rates tend to push up capitalisation rates – the metric used to value income-producing property – which compresses asset values while also raising borrowing costs on the debt most REITs carry. Tenant risk matters too: if occupancy drops or major leases expire without renewal, rental income falls. REITs with substantial offshore operations are exposed to currency movements between the AUD and the currencies of those markets, and development-active names carry additional risk from construction cost overruns and project delays.

How do industrial, retail and diversified REITs differ?

The REITs in this list cover several distinct property types, and the type shapes each one's income profile and risk. Industrial and logistics REITs own assets like warehouses, distribution centres and data centres, typically leased to large corporate or government tenants on longer-term agreements. Retail REITs own shopping centres and are more sensitive to consumer spending and foot traffic. Several names here hold a mix of office, industrial, retail and sometimes residential assets within one structure, and some also earn income from managing property funds on behalf of third-party investors.

What is WALE, and why does it matter for REITs?

WALE stands for weighted average lease expiry – a measure of how long a portfolio's leases have left to run, on average, weighted by the rent each generates. A longer WALE generally signals more predictable near-term income, because fewer leases are due for renewal or renegotiation soon. Charter Hall Long WALE REIT targets this characteristic explicitly, focusing on properties leased to government and large corporate tenants on long-term agreements. A shorter WALE can create more frequent opportunities to reset rents when market conditions allow, but it also means more near-term exposure to vacancies.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

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