Bisnow's REIT Scorecard: The 5 Biggest Retail REITs By Market Cap
As Aeropostale becomes the latest brick-and-mortar retailer to go by the wayside—following the likes of Sports Authority, Macy's and Sears (should I keep going?)—we decided to check in on the retail REIT industry to see how it's doing. These five REITs are holding strong atop their asset class despite the glut of struggling retailers.
Market Cap: $60.32B
Stock Price: $199.29/share
Founded: 1993
CEO David Simon (pictured) founded Simon Property—the largest retail REIT by market cap—in 1993. Despite the early year market troubles, the REIT has upped its value by 12% since January.
Market Cap: $24.36B
Stock Price: $28.17/share
Founded: 1954
GGP's CEO Sandeep Mathrani (pictured) went from his first $20k real estate deal to leading this retail giant out from bankruptcy—to be the second-largest retail REIT. The firm's stock saw a slight dip last week—dropping 2% on Wednesday.
Market Cap: $14.39B
Stock Price: $59.03/share
Founded: 1969
Realty Income's value has been soaring as of late, with values creeping close to the REIT's 52-week high. The REIT got a nice boost towards the end of last year when the State of Tennessee Treasury Department decided to up its holdings in the reliable firm—which has produced 80 dividend increases since 1994.
Market Cap: $11.4B
Stock Price: $27.89/share
Founded: 1958
Kimco, the largest public US owner and developer of shopping centers, saw both its NOI and stock price rise after shedding assets in Mexico and Canada last year. The REIT continued to unwind its position north of the border during fall 2015, selling $533M in assets to RioCan, Canada's largest retail REIT.
Market Cap: $11.33B
Stock Price: $76.50/share
Founded: 1964
The 52-year-old Macerich rounds out our list of the top five retail REITs, riding its focus on high-end malls to retail dominance. The company isn't giving in to some of its larger competitor's either—Macerich just rejected a $16B takeover bid from Simon Property Group (first on our list).
