- Currently, there are 49 companies listed as REITs on the ASX
- These companies allow retail investors to be exposed to property, especially commercial
- Though not a household name, Goodman Group has by far the largest market cap
There are 49 companies currently listed as Equity Real Estate Investment Trusts (REITs) on the Australian Stock Exchange (ASX).
These companies provide investors with the opportunity to be exposed to property, particularly commercial.
Additionally, given they are listed on the ASX, they have the benefit of daily liquidity – unlike investing directly on a property.
At close of trade 28 January 2022, the below are the largest REIT’s on the ASX by market capitalisation.
The top 10 largest REIT’s in Australia
- Goodman Group (GMG) – $41.16B
- Scentre Group Limited (SCG) – $14.64B
- Dexus (DXS) – $10.96B
- Mirvac Group (MGR) – $9.86B
- Stockland (SGP) – $9.31B
- The GPT Group (GPT) – $9.29B
- Charter Hall Group (CHC) – $7.64B
- Vicinity Centres (VCX) – $7.22B
- Lendlease Group (LLC) – $6.78B
- Charter Hall Long WALE REIT (CLW) – $3.38B
Who are they?
The largest REIT on the ASX – by far – is the Goodman Group, with a market cap of $42.74 billion.
Founded in 1989, Goodman Group owns, develops and manages commercial real estate such as warehouses, large-scale logistics assets and office parks. Along with a portfolio in Australia, the company invests in property across the Asia Pacific, continental Europe, the UK and the Americas.
Second place is Scentre Group, with a market cap of $14.9B. Scentre owns and operates Westfield shopping centres in Australia and New Zealand, having done so since the demerger of Westfield Group in 2014. Their portfolio consists of 42 centres valued at $50.1B that are home to over 12,000 retailers.
With a market cap just shy of $11B, Dexus invests in office, retail, industrial and healthcare real estate. The company invests only in Australia with the portfolio predominately weighed towards eastern seaboard CBD office markets.
Founded in 1972, Mirvac is a diversified property group investing in residential, office and industrial, retail and build to rent assets. In particular, the company focuses on creating mixed use developments.
Stockland is a diversified property developer, primarily known for shopping centres and housing estates.
The GPT Group is a diversified property group that manages high-quality office, logistics and retail assets across Australia.
Charter Hall is one of Australia’s largest property investment and funds management group. In particular, their portfolio includes investments across core sectors such as office, industrial, retail and social infrastructure.
Vicinity Centres own and manage 61 shopping centres across Australia. While listed, Vicinity also has investment products for wholesale and institutional investors.
Lendlease Group specialises in project management, construction, real estate investment and development, including new residential developments. Historically, Lendlease constructed the Sydney Opera House and the National September 11 Memorial & Museum in New York.
Charter Hall Long WALE REIT (CLW) invests in real estate assets that are primarily leased to major corporate and government tenants on long term leases. At the time of publication, the fund had an occupancy of 98.3% with a weighted average lease expiry (WALE) of 13.2 years across 468 properties.
