REIT – Major Industry Players

The top 20 companies are sorted by largest Market Cap.

American Tower REIT (NYSE: AMT) – Market Cap: 57,889M

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. In addition to leasing space on towers, they provide customized collocation solutions through their in-building systems, outdoor distributed antenna systems and other right-of-way options, managed rooftops and services that speed network deployment. Their global portfolio includes approximately 149,000 sites. Headquartered in Boston Massachusetts, American Tower has offices across the United States and in Argentina, Brazil, Chile, Colombia, Costa Rica, France, Germany, Ghana, India, Mexico, Nigeria, Paraguay, Peru, South Africa and Uganda.

  • Recent Activity includes tax reporting information related to 2017 distributions, which will be affected by the tax reform.
  • AMT also announced in 2017 that it will enter into agreements to acquire tower businesses from Vodafone India and Idea Cellular. This acquisition will add about 20,000 communication sites to its existing Indian portfolio and is expected to generate $320 in property revenue and approx. $120 in gross margin during their first full year in American Tower’s portfolio. The aggregate cash consideration for the transactions is expected to be approx.

Simon Property Group Inc. (NYSE: SPG) – Market Cap: 50,130M

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company. They have properties across North America, Europe, and Asia, which provide community gathering places for millions of people every day and generate billions in annual sales.

SPG has had lots of recent activity over the past 12 months.

  • At the beginning of 2017 SPG announced a 2-year extension of its $2 billion common stock repurchase program.
  • Also near the beginning of 2017 Simon announced that it would be opening a fourth premium outlet center in South Korea, which is another joint venture with Shinsegare Group.
  • Simon expands Life Time operations by adding Galleria Tennis & Athletic Club (GTAC) to its portfolio.
  • Simon invests $1 billion in 2017 and 2018, enhancing its premier shopping, dining and entertainment destinations. It has already invested over $5 billion over the past 5 years.
  • Simon opens its second premium outlet center in Malaysia, Genting Highlands Premium Outlets, which is a joint venture with Genting Plantations Berhad.
  • Simon breaks ground on Denver Premium Outlet. Denver Premium Outlets, slated to open in fall 2018, will offer a mix of product categories found in Simon Premium Outlets around the country, including fashion clothing and accessories, athletic, outdoor and fitness footwear and apparel, quick service and sit down dining options, home furnishings, electronics and much more in a 330,000-square foot open air center.
  • SPG announces a premier Mixed-Use development at Atlanta’s Phipps Plaza, which is to be headlined by the arrival of Nobu Hotel and Nobu Atlanta Restaurant.

Public Storage (NYSE: PSA) – Market Cap: 36,320M

Public Storage is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. Today it operates thousands of unique and diverse company-owned locations in the United States and Europe, totaling more than 142 million net rentable square feet of real estate. Its PS Business Parks interest adds another 28 million(approx.) rentable square feet of commercial and industrial space. Based on number of tenants, Public Storage is among the largest landlords in the world.

PSA has not had much recent activity related to transactions, but there was a good amount of new storage facilities that were opened throughout Texas.

  • Most of PSA’s activity has come from opening storage facilities. PSA opened a 1 million square foot storage facility in Richmond, Texas. It is the companies seventh in the Houston area (12/15/17).
  • Earlier on in 2017 PSA reopened its 115 in properties that had been previously closed due to hurricane weather.
  • New public storage units open in Plano, Texas (10/30/17).
  • Storage unites opened in New Humble, Texas (07/24/17).
  • PSA opens its largest new storage facility in Jersey City, New Jersey (02/22/17).

Charlie Izaguirre contributed to this report.

Nate Nead
Nate Nead
Nate Nead is a licensed investment banker with Four Points Capital Partners, LLC and Principal at Nead, LLC. Nate works with middle-market corporate clients looking to acquire, sell, divest or raise growth capital from qualified buyers and institutional investors. Four Points Capital Partners, LLC is a member of FINRA and SIPC and registered with the SEC.