Top 10 U.S. REITs to watch in 2026

A real estate investment trust (REIT) is a company that owns income-producing property and leases it to tenants. The ten on this list show how broad that definition has become – Welltower ($WELL) focuses on seniors housing, Prologis ($PLD) on logistics warehouses, and Equinix ($EQIX) on data centres, with cell towers, shopping malls and self-storage also represented.

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 US$. Data updated as of 24 August 2026.

✅ Learn more: Top 10 ASX REITs to watch in 2026→

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1. Welltower ($WELL)

Welltower (WELL) share price over the last year: started at US$164.90, ended at US$240.01, a change of +45.5%. Range over the period: high US$252.07, low US$164.90. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$240.01 · Daily: 0.3% · Market cap: US$172.99B · Sector: Real Estate · Industry: REITs

Welltower Inc. ($WELL) owns more than 2,500 seniors housing and wellness communities across the United States, United Kingdom and Canada. Its properties range from independent living and wellness housing to assisted living and continuing care retirement communities. The UK side of the portfolio includes care homes with and without nursing; Canada adds independent supportive living communities.

$WELL organises its business into two segments. The Seniors Housing Operating segment manages properties directly, while the Triple-net segment acquires single-tenant properties and leases them to operators – tenants typically cover property-level costs under those lease arrangements. CEO Shankh Mitra leads a team of 712 employees.

2. Prologis ($PLD)

Prologis (PLD) share price over the last year: started at US$111.62, ended at US$143.36, a change of +28.4%. Range over the period: high US$150.06, low US$110.95. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$143.36 · Daily: 1.1% · Market cap: US$136.24B · Sector: Real Estate · Industry: REITs

Prologis ($PLD) owns and develops logistics facilities – the warehouses that sit behind e-commerce fulfilment, freight distribution and supply chain operations. The company holds properties across approximately 20 countries on four continents, managed through what it calls an owned and managed basis. With just 2,802 employees running that scale of operation, $PLD leans heavily on its platform rather than headcount.

The business runs through two segments. The Real Estate segment covers rental income and development activity, including land held for development and a portfolio of renewable energy assets tied to its properties. The Strategic Capital segment manages co-investment ventures with external partners – essentially giving other capital a way to invest alongside $PLD in its facilities. Dan Letter serves as chief executive.

3. Equinix ($EQIX)

Equinix (EQIX) share price over the last year: started at US$782.38, ended at US$1,055.20, a change of +34.9%. Range over the period: high US$1,115.94, low US$726.09. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$1,055.20 · Daily: -1.0% · Market cap: US$104.12B · Sector: Real Estate · Industry: REITs

Equinix ($EQIX) owns and operates data centres across the Americas, Asia-Pacific, and the EMEA region. Businesses rent space inside those facilities – a model called colocation – and can connect directly to other networks and partners through $EQIX's interconnection products, including Equinix Fabric and Fiber Connect.

The company also provides monitoring and managed services tools, such as Equinix SmartView, that help customers oversee their colocated deployments. CEO Adaire Fox-Martin leads a workforce of 13,716 people.

4. American Tower ($AMT)

American Tower (AMT) share price over the last year: started at US$211.12, ended at US$178.39, a change of −15.5%. Range over the period: high US$211.12, low US$162.11. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$178.39 · Daily: 1.5% · Market cap: US$83.12B · Sector: Real Estate · Industry: REITs

American Tower Corporation ($AMT) owns and operates nearly 150,000 multitenant communications sites, leasing antenna space to wireless carriers, broadcast companies, government agencies and other tenants. Its property holdings cover the U.S. and Canada, Latin America, Europe, and markets in Africa and the Asia-Pacific region. Alongside those towers, $AMT runs a Data Centers segment focused on U.S. facilities and a Services arm that covers structural analysis and construction management. Chief Executive Steve Vondran leads a company of 4,866 employees.

5. Simon Property Group ($SPG)

Simon Property Group (SPG) share price over the last year: started at US$176.41, ended at US$220.73, a change of +25.1%. Range over the period: high US$236.70, low US$173.35. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$220.73 · Daily: 1.1% · Market cap: US$71.42B · Sector: Real Estate · Industry: REITs

Simon Property Group ($SPG) owns, develops and manages more than 250 properties worldwide – a mix of enclosed malls, Premium Outlets, The Mills and mixed-use destinations built around shopping, dining and entertainment. Names like King of Prussia, Lenox Square and Del Amo Fashion Center sit in its portfolio, alongside international holdings.

As a self-administered and self-managed REIT, $SPG handles its own operations rather than outsourcing management to a third party. The company employs around 3,100 people and is led by chief executive Eli Simon.

6. Digital Realty ($DLR)

Digital Realty (DLR) share price over the last year: started at US$165.86, ended at US$188.55, a change of +13.7%. Range over the period: high US$203.91, low US$147.93. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$188.55 · Daily: -1.1% · Market cap: US$69.95B · Sector: Real Estate · Industry: REITs

Digital Realty Trust ($DLR) owns and operates data centres – physical buildings packed with servers and networking infrastructure that other companies rent to run their digital operations. Its customers range across cloud computing, financial services, healthcare and manufacturing, essentially any industry that needs somewhere to house critical computing workloads.

$DLR's footprint covers 300+ facilities across 55+ metros in 30+ countries on six continents, making it one of the more geographically dispersed operators in this list. Its PlatformDIGITAL product is designed to let customers deploy infrastructure across that global network through a single framework, rather than negotiating site by site.

7. Public Storage ($PSA)

Public Storage (PSA) share price over the last year: started at US$289.84, ended at US$324.97, a change of +12.1%. Range over the period: high US$330.47, low US$258.44. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$324.97 · Daily: 0.8% · Market cap: US$60.71B · Sector: Real Estate · Industry: REITs

Public Storage ($PSA) is built around a straightforward idea: people and businesses need somewhere to put their stuff. The company owns interests in over 3,085 self-storage facilities across 40 U.S. states, renting out units generally on a month-to-month basis.

Beyond the storage units themselves, $PSA runs a handful of connected businesses – tenant reinsurance, merchandise sales, third-party management for other self-storage owners and bridge lending to those same operators. That mix sits across two reported segments: Self-Storage Operations and Ancillary Operations, with around 5,770 employees running the whole thing under CEO H. Thomas Boyle.

8. Realty Income ($O)

Realty Income (O) share price over the last year: started at US$58.21, ended at US$63.17, a change of +8.5%. Range over the period: high US$67.56, low US$55.93. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$63.17 · Daily: 0.9% · Market cap: US$59.77B · Sector: Real Estate · Industry: REITs

Realty Income Corporation ($O) owns freestanding commercial properties and leases them under long-term net lease agreements to a broad mix of tenants. Under a net lease, tenants generally cover operating costs – property taxes, insurance, maintenance – while $O collects the rent. The tenant mix includes grocery operators, convenience stores, drug stores, home improvement retailers and quick-service restaurants. The portfolio holds more than 15,500 properties across all 50 U.S. states, the UK and eight other European countries.

9. Ventas ($VTR)

Ventas (VTR) share price over the last year: started at US$67.72, ended at US$93.47, a change of +38.0%. Range over the period: high US$100.53, low US$67.13. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$93.47 · Daily: 0.4% · Market cap: US$47.95B · Sector: Real Estate · Industry: REITs

Ventas ($VTR) owns around 1,450 properties across North America and the United Kingdom, with a portfolio that covers senior housing communities, outpatient medical buildings, research centres and hospitals. The mix reflects three distinct operating models. In its senior housing operating portfolio, $VTR engages third-party managers to run the communities day-to-day rather than operating them directly. Its outpatient medical and research portfolio focuses on acquiring, developing and leasing buildings where healthcare and academic research activity takes place.

The third segment – triple-net leased properties – holds senior housing, skilled nursing facilities, long-term acute care facilities and freestanding inpatient rehabilitation facilities, where tenants typically cover most property costs under the lease terms. CEO Debra Cafaro leads a company with 542 employees, a relatively lean headcount given the scale of the property portfolio.

10. Iron Mountain ($IRM)

Iron Mountain (IRM) share price over the last year: started at US$91.79, ended at US$121.19, a change of +32.0%. Range over the period: high US$133.06, low US$78.86. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$121.19 · Daily: -0.7% · Market cap: US$36.08B · Sector: Real Estate · Industry: REITs

Iron Mountain Incorporated ($IRM) sits at an unusual crossroads: it's classified as a REIT, yet its business is built around storing information rather than leasing conventional property. The company keeps physical records – paper files, tapes, archive materials – in secure facilities, then charges businesses to manage, retrieve and eventually shred them.

Its second segment takes a different form entirely. The Global Data Center Business operates data centre facilities where companies house their IT infrastructure, paying Iron Mountain for the physical space and power their servers need to run. That puts $IRM in the business of protecting digital assets just as its records arm has long protected physical ones.

CEO Bill Meaney leads a workforce of 29,400 people across both sides of the business. The Global RIM segment also covers digital transformation services and consumer storage, so the company's footprint goes well beyond filing boxes.

➡️ Top 7 ASX data centre stocks to watch in 2026→

Common questions

How can I invest in U.S. REITs in Australia?

All ten REITs in this list trade on U.S. exchanges, so you buy them through a share trading platform that provides access to U.S. markets. Transactions settle in USD, which means AUD/USD exchange rate movements affect your returns alongside any share price changes. U.S.-listed REIT ETFs (exchange-traded funds) offer another route to the sector, though those are different products to the individual stocks covered here.

What are the key risks of investing in U.S. REITs?

REITs typically carry significant debt to fund property acquisitions, so changes in interest rates can affect both financing costs and property valuations. Currency exposure adds another dimension for Australian investors – a stronger AUD against the USD reduces the value of USD-denominated returns when converted back. Each sub-type also carries its own risk profile: retail properties face shifting consumer habits, senior housing is sensitive to occupancy rates and regulatory changes, and data centre and tower REITs are tied to the health of their technology and telecommunications tenant bases. Tenant defaults or extended vacancies in any property type can weigh on income passed to shareholders.

U.S. REITs cover a lot of ground – what are the main property types in this list?

The ten REITs here cover senior housing and healthcare facilities, logistics warehouses, data centre and colocation platforms, communications tower networks, retail malls and outlet centres, self-storage, and net-leased commercial properties. Each type operates differently from the others. $PSA rents self-storage space on a month-to-month basis, while a data centre REIT hosts tenants who install their own infrastructure on site – a different kind of arrangement entirely. The economic conditions that affect a senior housing community bear little resemblance to those affecting a logistics warehouse or a retail mall, even though both sit under the REIT structure.

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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