U.S. Property Play

Lineage

Market Cap: US$9.9b

Lineage, Inc. (NASDAQ: LINE) is the world’s largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 86 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific.

CubeSmart

Market Cap: US$9.2b

A self-administered and self-managed real estate investment trust.

EastGroup Properties

Market Cap: US$9.0b

EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona and North Carolina.

Vornado Realty Trust

Market Cap: US$8.7b

Vornado Realty Trust (“Vornado”) is a fully-integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P.

Federal Realty Investment Trust

Market Cap: US$8.7b

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals.

Brixmor Property Group

Market Cap: US$8.4b

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.

NNN REIT

Market Cap: US$7.9b

NNN invests in high-quality properties subject generally to long-term, net leases with minimal ongoing capital expenditures.

Agree Realty

Market Cap: US$7.9b

A publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.

CareTrust REIT

Market Cap: US$7.8b

CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of seniors housing and healthcare-related properties.

American Healthcare REIT

Market Cap: US$7.3b

A Maryland corporation, is a self-managed real estate investment trust, or REIT, that acquires, owns and operates a diversified portfolio of clinical healthcare real estate properties, focusing primarily on senior housing, skilled nursing facilities, or SNFs, outpatient medical, or OM, buildings and other healthcare-related facilities.

First Industrial Realty Trust

Market Cap: US$7.1b

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties.

STAG Industrial

Market Cap: US$6.6b

A real estate investment trust focused on the acquisition, development, ownership, and operation of industrial properties throughout the United States.

Healthcare Realty Trust

Market Cap: US$6.4b

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses.

Terreno Realty

Market Cap: US$6.0b

Terreno Realty Corporation (“Terreno”, and together with its subsidiaries, the “Company”) acquires, owns and operates industrial real estate in six major coastal U.S.

Essential Properties Realty Trust

Market Cap: US$6.0b

A real estate company, acquires, owns, and manages single-tenant properties in the United States.

Ryman Hospitality Properties

Market Cap: US$5.9b

Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences.

Millrose Properties

Market Cap: US$5.7b

Millrose purchases and develops residential land and sells finished homesites to homebuilders by way of option contracts with predetermined costs and takedown schedules.

Kilroy Realty

Market Cap: US$5.3b

Kilroy is a leading U.S. landlord and developer, with operations in San Diego, Los Angeles, the San Francisco Bay Area, Seattle, and Austin.

Kite Realty Group Trust

Market Cap: US$5.0b

Kite Realty Group (NYSE: KRG), a real estate investment trust (REIT), is a premier owner and operator of open-air shopping centers and mixed-use assets.

Phillips Edison

Market Cap: US$4.8b

Phillips Edison & Company, Inc. (“PECO”) is one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers.

Cousins Properties

Market Cap: US$4.8b

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT).

SL Green Realty

Market Cap: US$4.7b

SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties.

Macerich

Market Cap: US$4.5b

Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT).

Sabra Health Care REIT

Market Cap: US$4.5b

As of June 30, 2025, Sabra’s investment portfolio included 359 real estate properties held for investment (consisting of (i) 219 skilled nursing/transitional care facilities, (ii) 36 senior housing communities (“senior housing - leased”), (iii) 73 senior housing communities operated by third-party property managers pursuant to property management agreements (“senior housing - managed”), (iv) 16 behavioral health facilities and (v) 15 specialty hospitals and other facilities), 13 investments in loans receivable (consisting of three mortgage loans and 10 other loans), four preferred equity investments and two investments in unconsolidated joint ventures.

EPR Properties

Market Cap: US$4.4b

EPR Properties (NYSE: EPR) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry.

Independence Realty Trust

Market Cap: US$4.1b

Independence Realty Trust, Inc. (NYSE: IRT), an S&P 400 MidCap Company, is a real estate investment trust (“REIT”) that owns and operates multifamily communities, across non-gateway U.S.

Rayonier

Market Cap: US$4.0b

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.

Tanger

Market Cap: US$3.9b

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 44 years of expertise in the retail and outlet shopping industries.

National Storage Affiliates Trust

Market Cap: US$3.8b

A real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States.

Broadstone Net Lease

Market Cap: US$3.6b

BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants.

Americold Realty Trust

Market Cap: US$3.6b

Americold is a global leader in temperature-controlled logistics real estate and value-added services.

Highwoods Properties

Market Cap: US$3.5b

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE: HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.

COPT Defense Properties

Market Cap: US$3.4b

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S.

Douglas Emmett

Market Cap: US$3.3b

Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu.

OUTFRONT Media

Market Cap: US$3.1b

OUTFRONT is one of the largest and most trusted out-of-home media companies in the U.S., helping brands connect with audiences in the moments and environments that matter most.

PotlatchDeltic

Market Cap: US$3.1b

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina.