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

Real estate companies with the highest operating cash flow

Operating cash flow is the cash the business itself produced over the year, before anything is spent on new assets or paid out to lenders and shareholders. It strips out the non-cash charges that separate profit from cash. 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 1–100 of 143 · Fiscal year 2025 · Data as of September 25, 2026

Brookfield (BN) tops the list with $11.0B in operating cash flow for fiscal 2025, ahead of American Tower ($5.5B) and Prologis ($5.0B). The top 10 together report $46.3B in operating cash flow; the gap between #1 and #10 is ×3.80. 143 companies in Real estate report operating cash flow, 5.7% of the 2517-filer universe. The last place on the list, Summit Hotel Properties, comes in at $149M.

Operating cash flow
#CompanyOperating cash flowYoY15-year trend
1BrookfieldBNCA$11.0B+44.8%
2American TowerAMTUS$5.5B+3.3%
3PrologisPLDUS$5.0B+2.0%
4Simon PropertySPGUS$4.1B+8.4%
5Realty IncomeOUS$4.0B+11.8%
6EquinixEQIXUS$3.9B+20.4%
7Millrose PropertiesMRPUS$3.7B+$4.6B
8Public StoragePSAUS$3.2B+1.9%
9Crown CastleCCIUS$3.1B+3.9%
10WelltowerWELLUS$2.9B+27.7%
11Vici PropertiesVICIUS$2.5B+5.4%
12Digital Realty TrustDLRUS$2.4B+6.7%
13Blackstone Real Estate Income TrustBSTTUS$2.3B+9.5%
14Extra Space StorageEXRUS$1.9B−2.0%
15VentasVTRUS$1.6B+23.8%
16CBRE GroupCBREUS$1.6B−8.7%
17Host Hotels & ResortsHSTUS$1.5B+0.8%
18Alexandria Real Estate EquitiesAREUS$1.4B−6.0%
19Iron MountainIRMUS$1.3B+12.0%
20Sba CommunicationsSBACUS$1.3B−3.3%
21W. P. CareyWPCUS$1.3B−30.0%
22Vornado Realty TrustVNOUS$1.3B+134.0%
23Healthpeak PropertiesDOCUS$1.3B+17.0%
24BXPBXPUS$1.2B+0.9%
25Invitation HomesINVHUS$1.2B+11.5%
26Jones Lang LasalleJLLUS$1.2B+52.1%
27Gaming & Leisure PropertiesGLPIUS$1.1B+5.3%
28Kimco RealtyKIMUS$1.1B+11.4%
29Mid America Apartment CommunitiesMAAUS$1.1B−1.8%
30Essex Property TrustESSUS$1.1B+0.6%
31Opendoor TechnologiesOPENUS$1.0B+$1.6B
32Starwood Property TrustSTWDUS$978M+51.2%
33LineageLINEUS$943M+34.1%
34UdrUDRUS$903M+3.0%
35Omega Healthcare InvestorsOHIUS$879M+17.2%
36Sun CommunitiesSUIUS$864M+0.4%
37Lamar AdvertisingLAMRUS$864M−1.1%
38Regency CentersREGUS$828M+4.7%
39NNN ReitNNNUS$667M+5.0%
40Brixmor PropertyBRXUS$652M+4.4%
41Federal Realty Investment TrustFRTUS$622M+8.3%
42CubesmartCUBEUS$609M−3.6%
43Ryman Hospitality PropertiesRHPUS$591M+2.4%
44Equity Lifestyle PropertiesELSUS$571M−4.3%
45Kilroy RealtyKRCUS$566M+4.7%
46WeyerhaeuserWYUS$562M−44.2%
47Rexford Industrial RealtyREXRUS$542M+13.2%
48Agree RealtyADCUS$504M+16.7%
49Eastgroup PropertiesEGPUS$481M+15.4%
50Stag IndustrialSTAGUS$463M+0.7%
51Howard HughesHHHUS$462M+16.6%
52First Industrial Realty TrustFRUS$461M+30.9%
53Healthcare Realty TrustHRUS$457M−8.9%
54FirstserviceFSVCA$446M+56.1%
55Kite Realty Group TrustKRGUS$430M+2.5%
56Epr PropertiesEPRUS$421M+7.1%
57Cousins PropertiesCUZUS$402M+0.5%
58Caretrust ReitCTREUS$394M+61.3%
59Douglas EmmettDEIUS$387M−5.3%
60Essential Properties Realty TrustEPRTUS$381M+23.5%
61Apple Hospitality ReitAPLEUS$370M−8.7%
62Americold Realty TrustCOLDUS$360M−12.7%
63Highwoods PropertiesHIWUS$359M−11.0%
64Sabra Health Care ReitSBRAUS$349M+12.3%
65Phillips EdisonPECOUS$348M+4.0%
66Starwood Real Estate Income TrustSWDRUS$346M−19.5%
67Cushman & WakefieldCWKBM$340M+63.7%
68Colliers InternationalCIGICA$330M+1.3%
69MacerichMACUS$322M+13.5%
70Copt Defense PropertiesCDPUS$310M−6.4%
71Outfront MediaOUTUS$308M+2.8%
72Broadstone Net LeaseBNLUS$299M+8.4%
73American Healthcare ReitAHRUS$294M+67.2%
74Franklin BSP Realty TrustFBRTUS$292M+410.1%
75Independence Realty TrustIRTUS$282M+8.6%
76Terreno RealtyTRNOUS$272M+16.8%
77Easterly Government PropertiesDEAUS$259M+59.4%
78RayonierRYNUS$257M−1.9%
79Ares Real Estate Income TrustZAREUS$254M+$423M
80Pebblebrook Hotel TrustPEBUS$250M−9.2%
81CBL & Associates PropertiesCBLUS$250M+23.5%
82Empire State Realty TrustESRTUS$249M−4.5%
83RLJ Lodging TrustRLJUS$244M−14.6%
84Diamondrock HospitalityDRHUS$244M+8.6%
85National Health InvestorsNHIUS$237M+13.9%
86Medical Properties TrustMPTUS$231M−6.0%
87Global Net LeaseGNLUS$223M−25.6%
88CompassCOMPUS$217M+78.4%
89Vesta Real Estate Corporation, S.A.B. de C.VVTMXMX$207M+59.8%
90Innovative Industrial PropertiesIIPRUS$198M−23.3%
91CorecivicCXWUS$195M−27.7%
92Four Corners Property TrustFCPTUS$192M+33.4%
93ST JoeJOEUS$191M+76.6%
94LXP Industrial TrustLXPUS$189M−10.6%
95Urban Edge PropertiesUEUS$183M+19.3%
96Newmark GroupNMRKUS$172M+$182M
97American Assets TrustAATUS$167M−19.3%
98Acadia Realty TrustAKRUS$167M+18.9%
99Inventrust PropertiesIVTUS$155M+13.5%
100Summit Hotel PropertiesINNUS$149M−10.4%

All figures from SEC filings · FY2025 · 100

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

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

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