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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Real estate companies with the highest operating margin

Operating margin is operating income divided by revenue. Only companies with at least $1 billion in revenue are ranked here. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–60 of 60 · Fiscal year 2025 · Data as of September 25, 2026

Only companies with at least $1bn in revenue are ranked.

Gaming & Leisure Properties (GLPI) tops the list with 75.3% in operating margin for fiscal 2025, ahead of Regency Centers (72.3%) and Vici Properties (70.4%). Across the top 10, operating margin ranges from 75.3% down to 49.6%. 60 companies in Real estate report operating margin, 4.0% of the 1486-filer universe. The last place on the list, Americold Realty Trust, comes in at 0.3%.

Operating margin
#CompanyOperating marginYoY15-year trend
1Gaming & Leisure PropertiesGLPIUS75.3%+2.0%
2Regency CentersREGUS72.3%+0.4%
3Vici PropertiesVICIUS70.4%−0.7%
4SL Green RealtySLGUS65.0%−21.2%
5Starwood Real Estate Income TrustSWDRUS61.1%−2.3%
6Vornado Realty TrustVNOUS52.5%+2,091.1%
7Omega Healthcare InvestorsOHIUS52.5%+28.6%
8Blackstone Real Estate Income TrustBSTTUS50.7%−20.0%
9Simon PropertySPGUS49.9%−3.8%
10PrologisPLDUS49.6%−7.9%
11Crown CastleCCIUS48.7%+2.5%
12Sba CommunicationsSBACUS47.7%−11.0%
13Essex Property TrustESSUS47.6%+20.3%
14Federal Realty Investment TrustFRTUS47.1%+19.9%
15American TowerAMTUS45.5%+2.1%
16Extra Space StorageEXRUS41.8%+2.9%
17Public StoragePSAUS37.1%−16.6%
18Kimco RealtyKIMUS36.0%+16.6%
19Lamar AdvertisingLAMRUS34.2%+41.7%
20UdrUDRUS32.3%+89.9%
21W. P. CareyWPCUS29.4%−5.4%
22BXPBXPUS26.1%+7.8%
23Starwood Property TrustSTWDUS26.0%+24.7%
24Equity Lifestyle PropertiesELSUS25.6%+2.5%
25Douglas EmmettDEIUS24.2%−9.4%
26Kilroy RealtyKRCUS23.3%—
27Howard HughesHHHUS22.5%−29.7%
28Realty IncomeOUS20.1%+13.4%
29EquinixEQIXUS20.0%+32.1%
30Ryman Hospitality PropertiesRHPUS18.9%−9.9%
31American Healthcare ReitAHRUS18.4%+4.6%
32Apple Hospitality ReitAPLEUS18.3%−10.8%
33Rithm CapitalRITMUS17.6%−28.5%
34CubesmartCUBEUS17.4%—
35Iron MountainIRMUS16.9%+2.7%
36Outfront MediaOUTUS16.0%−31.1%
37Host Hotels & ResortsHSTUS14.0%−9.2%
38Forestar GroupFORUS13.2%−26.3%
39Diversified Healthcare TrustDHCUS11.8%+21.3 pp
40Digital Realty TrustDLRUS10.8%+26.8%
41WeyerhaeuserWYUS10.6%+10.1%
42Ashford Hospitality TrustAHTUS10.5%−52.3%
43Healthcare Realty TrustHRUS10.5%−8.9%
44Diamondrock HospitalityDRHUS9.0%+104.0%
45CorecivicCXWUS7.1%+51.6%
46Newmark GroupNMRKUS7.1%+19.3%
47Colliers InternationalCIGICA6.7%−17.3%
48FirstserviceFSVCA6.1%−4.9%
49Mid America Apartment CommunitiesMAAUS5.2%+18.6%
50Douglas EllimanDOUGUS4.4%+11.3 pp
51Cushman & WakefieldCWKBM4.4%+22.6%
52Invitation HomesINVHUS4.3%−45.8%
53CBRE GroupCBREUS4.3%+9.4%
54Jones Lang LasalleJLLUS4.2%+13.5%
55VentasVTRUS3.5%+3.7 pp
56LineageLINEUS3.4%+10.1 pp
57Pebblebrook Hotel TrustPEBUS3.0%−48.7%
58Ke HoldingsBEKECN2.2%−44.6%
59RLJ Lodging TrustRLJUS2.2%−56.8%
60Americold Realty TrustCOLDUS0.3%−94.0%

All figures from SEC filings · FY2025 · 60

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{{cite web |title=Real estate companies with the highest operating margin |url=https://companiesranked.com/en/real-estate-companies-with-the-highest-operating-margin |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-real-estate-companies-with-the-highest-operating-margin-2026,
  author       = {{CompaniesRanked}},
  title        = {{Real estate companies with the highest operating margin}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/real-estate-companies-with-the-highest-operating-margin}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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