Prologis

Prologis dominates as the world's largest REIT by market cap at $120 billion. Its 1.2 billion square foot industrial and logistics portfolio across 20 countries is the most extensive in the sector, 50% larger than #2 American Tower’s asset base. Amazon and FedEx, the two largest tenants, anchor a portfolio that captures 90% of global e-commerce-driven warehouse demand. With supply chain modernization accelerating, Prologis has generated a 15% average annual total return over the past five years, outperforming the average industrial REIT by 4 percentage points.