Alexandria Real Estate Equities, Inc. · ARE
$548M
$577M
$615M
$644M
$660M
$670M
$701M
$714M
$714M
$757M
$769M
$767M
$792M
$789M
$758M
$762M
$752M
$754M
$671M
—
20-quarter listed-company comparison
REIT - Office Stocks
REIT - Office: Alexandria Real Estate Equities, Inc. owns the largest revenue base; Postal Realty Trust, Inc. has the fastest current growth.
01 · the industry itself · before any single company
How has REIT - Office moved against S&P 500?
The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 44% behind S&P 500. Earnings across its companies fell 15% on average over the last four reported quarters. It has been ahead of S&P 500 on a rolling three-month view for 12 weeks running.
FADING · −1 in 4w~Price down, no fundamental support9 of 15 companies ahead of S&P 500 by 5% or more over three months
RS ↑12w · 13/15 >200d (+1) · 9/15 lead (−1) · EPS 7/15↑
REIT - Office, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
REIT - Office, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
REIT - Office, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 15 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
02 · sector relative strength, before individual stocks
Is REIT - Office outperforming S&P 500?
REIT - Office has underperformed S&P 500 by 17.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 5.5%. 7 of 17 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Postal Realty Trust, Inc. is the strongest against the sector itself at +12.6%.
+5.5%Sector vs S&P 500 · 13 weeks
-17.3%Sector vs S&P 500 · 52 weeks
7/17Stocks leading S&P 500
10/17Stocks leading sector
Sector metric: — as of latest available · unclassified · direction unavailable.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
REIT - Office has underperformed S&P 500 by 17.3% over 52 weeks and 5.5% over 13 weeks. 7 of 17 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 17 beat the sector itself. Alexandria Real Estate Equities, Inc. leads with income of $2,939 million, based on 9 of 17 comparable companies through Mar 2026.
Companies
17
complete canonical membership
Combined market value
$60.3B
BXP, Inc.
Revenue growing
4/9
positive TTM year-on-year growth
Beating S&P 500
7/17
positive Mansfield relative strength
Comparing 5 of 17
03 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Vornado Realty Trust has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 64% evidence confidence.
Cousins Properties Incorporated has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Vornado Realty TrustVNO | 64.5/100Mixed-positive evidence64% evidence | BREAKING OUT | 22.1/35 Income -0.3% · PAT 100% 71% evidence | 14.8/25 ROA 4.7% · ROE -0.3% · GNPA — 68% evidence | 9.8/20 P/BV 0.81× · P/BV÷ROE — 10% evidence | 17.8/20 RS sector 10.8% · RS bench 6.1% · 1Y 10.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 22.1 + 14.8 + 9.8 + 17.8 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Postal Realty Trust, Inc.PSTL | 63.3/100Mixed-positive evidence70% evidence | FADING | 26.4/35 Income 23.5% · PAT 90.9% 71% evidence | 14.3/25 ROA 1.3% · ROE 1.4% · GNPA — 68% evidence | 5.6/20 P/BV 1.76× · P/BV÷ROE 1.25 70% evidence | 17.0/20 RS sector 12.6% · RS bench 10.4% · 1Y 60%8 of 12 weeks ahead 70% evidence |
| Exact sum: 26.4 + 14.3 + 5.6 + 17 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Highwoods Properties, Inc.HIW | 58.6/100Mixed-positive evidence60% evidence | BREAKING OUT | 18.6/35 Income — · PAT — 26% evidence | 14.1/25 ROA 0.9% · ROE 3.9% · GNPA — 68% evidence | 6.7/20 P/BV 1.39× · P/BV÷ROE 0.36 70% evidence | 19.2/20 RS sector 12.4% · RS bench 7.7% · 1Y 15%11 of 12 weeks ahead 100% evidence |
| Exact sum: 18.6 + 14.1 + 6.7 + 19.2 = 58.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4COPT Defense PropertiesCDP | 54.4/100Mixed-positive evidence60% evidence | BREAKING OUT | 17.5/35 Income — · PAT — 26% evidence | 15.7/25 ROA 1.4% · ROE 3% · GNPA — 68% evidence | 5.9/20 P/BV 2.7× · P/BV÷ROE 0.9 70% evidence | 15.3/20 RS sector 11.2% · RS bench 8.2% · 1Y 36.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 15.7 + 5.9 + 15.3 = 54.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5BXP, Inc.BXP | 50.5/100Mixed-positive evidence60% evidence | BREAKING OUT | 19.4/35 Income — · PAT — 26% evidence | 15.7/25 ROA 1.8% · ROE 1.3% · GNPA — 68% evidence | 5.0/20 P/BV 2.05× · P/BV÷ROE 1.58 70% evidence | 10.4/20 RS sector 0.4% · RS bench -3.7% · 1Y 11.7%10 of 12 weeks ahead 100% evidence |
| Exact sum: 19.4 + 15.7 + 5 + 10.4 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Cousins Properties IncorporatedCUZ | 48.3/100Mixed-negative evidence60% evidence | BREAKING OUT | 17.3/35 Income — · PAT — 26% evidence | 11.7/25 ROA 0.7% · ROE 0.6% · GNPA — 68% evidence | 4.9/20 P/BV 1.1× · P/BV÷ROE 1.83 70% evidence | 14.4/20 RS sector 8.4% · RS bench 4.4% · 1Y 15.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 17.3 + 11.7 + 4.9 + 14.4 = 48.3 · Decision use: Price leads the evidence: RS versus the benchmark is 4.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 7Empire State Realty OP, L.P.ESBA | 45.0/100Mixed-negative evidence70% evidence | ASLEEP | 15.0/35 Income 1.3% · PAT -32.5% 71% evidence | 17.8/25 ROA 2.1% · ROE 7.1% · GNPA — 68% evidence | 8.6/20 P/BV 0.77× · P/BV÷ROE 0.11 70% evidence | 3.6/20 RS sector -28.7% · RS bench -31.8% · 1Y -34%0 of 12 weeks ahead 70% evidence |
| Exact sum: 15 + 17.8 + 8.6 + 3.6 = 45 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Easterly Government Properties, Inc.DEA | 42.5/100Mixed-negative evidence70% evidence | TURNING | 17.0/35 Income 13.3% · PAT -42.1% 71% evidence | 10.4/25 ROA 0.6% · ROE 0.1% · GNPA — 68% evidence | 4.3/20 P/BV 0.76× · P/BV÷ROE 7.6 70% evidence | 10.8/20 RS sector 2.4% · RS bench -0.6% · 1Y 15.2%0 of 12 weeks ahead 70% evidence |
| Exact sum: 17 + 10.4 + 4.3 + 10.8 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9SL Green Realty Corp.SLG | 40.6/100Mixed-negative evidence60% evidence | BREAKING OUT | 13.9/35 Income — · PAT — 26% evidence | 6.9/25 ROA 0.3% · ROE 0.1% · GNPA — 68% evidence | 3.6/20 P/BV 1.08× · P/BV÷ROE 10.77 70% evidence | 16.2/20 RS sector 9.1% · RS bench 4.2% · 1Y 4.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 13.9 + 6.9 + 3.6 + 16.2 = 40.6 · Decision use: Price leads the evidence: RS versus the benchmark is 4.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Net Lease Office PropertiesNLOP | 36.6/100Mixed-negative evidence61% evidence | BASING | 13.9/35 Income -22.1% · PAT — 45% evidence | 11.2/25 ROA 0.6% · ROE 6.6% · GNPA — 68% evidence | 8.5/20 P/BV 1× · P/BV÷ROE 0.15 70% evidence | 3.0/20 RS sector -42.8% · RS bench -46.4% · 1Y -64.2%0 of 12 weeks ahead 70% evidence |
| Exact sum: 13.9 + 11.2 + 8.5 + 3 = 36.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Kilroy Realty CorporationKRC | 35.5/100Mixed-negative evidence60% evidence | BREAKING OUT | 14.5/35 Income — · PAT — 26% evidence | 10.6/25 ROA 0.6% · ROE 0.4% · GNPA — 68% evidence | 4.8/20 P/BV 0.83× · P/BV÷ROE 2.08 70% evidence | 5.6/20 RS sector -0.8% · RS bench -5% · 1Y 4.1%10 of 12 weeks ahead 100% evidence |
| Exact sum: 14.5 + 10.6 + 4.8 + 5.6 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Alexandria Real Estate Equities, Inc.ARE | 33.4/100Adverse evidence76% evidence | TURNING | 11.3/35 Income -5.4% · PAT -358.9% 71% evidence | 8.7/25 ROA 0.3% · ROE 1.9% · GNPA — 68% evidence | 8.6/20 P/BV 0.5× · P/BV÷ROE 0.27 70% evidence | 4.8/20 RS sector -19.2% · RS bench -23.4% · 1Y -34.1%2 of 12 weeks ahead 100% evidence |
| Exact sum: 11.3 + 8.7 + 8.6 + 4.8 = 33.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Douglas Emmett, Inc.DEI | 31.3/100Adverse evidence64% evidence | ASLEEP | 12.2/35 Income 0.9% · PAT -250% 71% evidence | 7.0/25 ROA 0.5% · ROE -0.4% · GNPA — 68% evidence | 9.8/20 P/BV 0.84× · P/BV÷ROE — 10% evidence | 2.3/20 RS sector -7.1% · RS bench -11.4% · 1Y -17.1%9 of 12 weeks ahead 100% evidence |
| Exact sum: 12.2 + 7 + 9.8 + 2.3 = 31.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Piedmont Realty Trust, Inc.PDM | 47.3/100Thin evidence · provisional42% evidence | BREAKING OUT | 17.3/35 Income — · PAT — 26% evidence | 6.5/25 ROA 0.5% · ROE -0.7% · GNPA — 68% evidence | 9.8/20 P/BV 0.78× · P/BV÷ROE — 10% evidence | 13.7/20 RS sector 8% · RS bench 4.3% · 1Y 28.3%10 of 12 weeks ahead 70% evidence |
| Exact sum: 17.3 + 6.5 + 9.8 + 13.7 = 47.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 15Brandywine Realty TrustBDN | 44.1/100Thin evidence · provisional42% evidence | ASLEEP | 21.9/35 Income — · PAT — 26% evidence | 7.7/25 ROA 0.6% · ROE -1.8% · GNPA — 68% evidence | 9.8/20 P/BV 0.8× · P/BV÷ROE — 10% evidence | 4.7/20 RS sector -10% · RS bench -14% · 1Y -20.2%2 of 12 weeks ahead 70% evidence |
| Exact sum: 21.9 + 7.7 + 9.8 + 4.7 = 44.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 16Hudson Pacific Properties, Inc.HPP | 43.7/100Thin evidence · provisional49% evidence | BREAKING OUT | 17.4/35 Income -1.3% · PAT — 45% evidence | 4.9/25 ROA -0.2% · ROE -1.7% · GNPA — 68% evidence | 9.8/20 P/BV 0.11× · P/BV÷ROE — 10% evidence | 11.6/20 RS sector 5.1% · RS bench -1.9% · 1Y -20.1%12 of 12 weeks ahead 70% evidence |
| Exact sum: 17.4 + 4.9 + 9.8 + 11.6 = 43.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 17Orion Properties Inc.ONL | 33.8/100Thin evidence · provisional49% evidence | ASLEEP | 11.9/35 Income -6.5% · PAT — 45% evidence | 4.0/25 ROA -0.3% · ROE -2% · GNPA — 68% evidence | 9.8/20 P/BV 0.2× · P/BV÷ROE — 10% evidence | 8.1/20 RS sector -0.4% · RS bench -3.8% · 1Y 5%8 of 12 weeks ahead 70% evidence |
| Exact sum: 11.9 + 4 + 9.8 + 8.1 = 33.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Showing 10 of 17 companies
04 · what price has already done
Market action
Postal Realty Trust, Inc. has the strongest one-year price move in REIT - Office at +60%. It also leads on Mansfield relative strength against the S&P 500 at +10.4%. 7 of 17 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.
Price and relative strength
Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind S&P 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS S&P 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against REIT - Office itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
05 · compare level, then change
Income Scale & Growth Durability
Alexandria Real Estate Equities, Inc. has the highest Income among the 17 REIT - Office companies compared here, at $2,939 million. Vornado Realty Trust is next at $1,808 million. Postal Realty Trust, Inc. has the highest Income growth at 23.5%, so level and change sit with different companies. Its Income series carries 19 reported observations across the 20-quarter window.
What the numbers say: Alexandria Real Estate Equities, Inc. is the scale leader at $2,939 million, 62.6% ahead of Vornado Realty Trust. Postal Realty Trust, Inc.'s growth is 23.5% from a $100 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderAlexandria Real Estate Equities, Inc. · $2,939 million
Gap62.6% versus #2 · Vornado Realty Trust
Persistence3/8 recent comparable periods
Coverage9/17 companies · 317 observations
Investor read: Alexandria Real Estate Equities, Inc. is the scale benchmark; Postal Realty Trust, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Alexandria Real Estate Equities, Inc.'s growth falls below Postal Realty Trust, Inc.'s for two consecutive comparable reports while operating margin also compresses.
For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
Income growthfastest growers
Income · company comparison
9/17 level · 9/17 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Income | Income growth | Reported |
|---|---|---|---|
| BXP, Inc. BXP | $872M | 0.8% | Jun 2026 |
| Alexandria Real Estate Equities, Inc. ARE | $671M | -11% | Mar 2026 |
| Vornado Realty Trust VNO | $459M | -0.7% | Mar 2026 |
| Kilroy Realty Corporation KRC | $270M | -0.4% | Jun 2026 |
| Cousins Properties Incorporated CUZ | $263M | 5.2% | Jun 2026 |
| SL Green Realty Corp. SLG | $253M | 5.4% | Jun 2026 |
| Douglas Emmett, Inc. DEI | $251M | -0.4% | Mar 2026 |
| Highwoods Properties, Inc. HIW | $214M | 7.0% | Jun 2026 |
| COPT Defense Properties CDP | $201M | 6.9% | Jun 2026 |
| Empire State Realty OP, L.P. ESBA | $190M | 5.6% | Mar 2026 |
| Hudson Pacific Properties, Inc. HPP | $182M | -8.1% | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | $143M | 0.0% | Jun 2026 |
| Brandywine Realty Trust BDN | $127M | 4.1% | Jun 2026 |
| Easterly Government Properties, Inc. DEA | $92M | 16% | Mar 2026 |
| Orion Properties Inc. ONL | $36M | -5.3% | Mar 2026 |
| Postal Realty Trust, Inc. PSTL | $27M | 23% | Mar 2026 |
| Net Lease Office Properties NLOP | $9M | -69% | Mar 2026 |
Full 20-quarter history · every available company
Income · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BXP, Inc. · BXP
$730M
$731M
$754M
$774M
$791M
$790M
$803M
$817M
$824M
$829M
$839M
$850M
$859M
$859M
$865M
$868M
$872M
$877M
$872M
—
COPT Defense Properties · CDP
$167M
$186M
$195M
$186M
$183M
$175M
$168M
$169M
$169M
$180M
$193M
$187M
$189M
$183M
$188M
$190M
$189M
$197M
$201M
—
Cousins Properties Incorporated · CUZ
$189M
$190M
$187M
$186M
$195M
$195M
$203M
$204M
$199M
$197M
$209M
$213M
$209M
$225M
$250M
$240M
$248M
$255M
$263M
—
Douglas Emmett, Inc. · DEI
$238M
$239M
$239M
$247M
$254M
$254M
$252M
$253M
$255M
$259M
$245M
$246M
$251M
$245M
$252M
$252M
$251M
$249M
$251M
—
Easterly Government Properties, Inc. · DEA
$70M
$72M
$72M
$73M
$75M
$74M
$71M
$71M
$72M
$73M
$73M
$76M
$75M
$78M
$79M
$84M
$86M
$87M
$92M
—
Empire State Realty OP, L.P. · ESBA
$165M
$160M
$164M
$198M
$184M
$181M
$165M
$191M
$192M
$193M
$181M
$190M
$200M
$198M
$180M
$191M
$198M
$199M
$190M
—
Highwoods Properties, Inc. · HIW
$195M
$203M
$206M
$204M
$207M
$212M
$213M
$207M
$207M
$207M
$211M
$205M
$204M
$206M
$200M
$201M
$202M
$203M
$214M
—
Kilroy Realty Corporation · KRC
$232M
$261M
$266M
$271M
$276M
$284M
$293M
$284M
$284M
$269M
$279M
$281M
$290M
$286M
$271M
$290M
$280M
$272M
$270M
—
Piedmont Realty Trust, Inc. · PDM
$131M
$138M
$136M
$136M
$144M
$147M
$142M
$143M
$147M
$145M
$145M
$143M
$139M
$143M
$143M
$140M
$139M
$143M
$143M
—
SL Green Realty Corp. · SLG
$205M
$212M
$188M
$201M
$212M
$225M
$246M
$246M
$210M
$212M
$188M
$223M
$230M
$246M
$240M
$242M
$245M
$276M
$253M
—
Vornado Realty Trust · VNO
$409M
$421M
$442M
$453M
$457M
$447M
$446M
$472M
$451M
$442M
$436M
$450M
$443M
$458M
$462M
$441M
$454M
$454M
$459M
—
Income growth · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
—
—
—
26%
20%
16%
14%
11%
8.2%
13%
9.7%
7.4%
11%
4.2%
-1.4%
-0.7%
-5.1%
-4.4%
-11%
—
BXP, Inc. · BXP
—
—
—
8.4%
8.4%
8.1%
6.5%
5.6%
4.2%
4.9%
4.5%
4.0%
4.3%
3.6%
3.1%
2.1%
1.5%
2.1%
0.8%
—
COPT Defense Properties · CDP
—
—
—
18%
9.6%
-5.9%
-14%
-9.1%
-7.7%
2.9%
15%
11%
12%
1.7%
-2.6%
1.6%
0.0%
7.7%
6.9%
—
Cousins Properties Incorporated · CUZ
—
—
—
-0.5%
3.2%
2.6%
8.6%
9.7%
2.1%
1.0%
3.0%
4.4%
5.0%
14%
20%
13%
19%
13%
5.2%
—
Douglas Emmett, Inc. · DEI
—
—
—
9.8%
6.7%
6.3%
5.4%
2.4%
0.4%
2.0%
-2.8%
-2.8%
-1.6%
-5.4%
2.9%
2.4%
0.0%
1.6%
-0.4%
—
Easterly Government Properties, Inc. · DEA
—
—
—
5.8%
7.1%
2.8%
-1.4%
-2.7%
-4.0%
-1.4%
2.8%
7.0%
4.2%
6.9%
8.2%
11%
15%
12%
16%
—
Empire State Realty OP, L.P. · ESBA
—
—
—
29%
12%
13%
0.6%
-3.5%
4.4%
6.6%
9.7%
-0.5%
4.2%
2.6%
-0.6%
0.5%
-1.0%
0.5%
5.6%
—
Highwoods Properties, Inc. · HIW
—
—
—
9.7%
6.2%
4.4%
3.4%
1.5%
0.0%
-2.4%
-0.9%
-1.0%
-1.5%
-0.5%
-5.2%
-2.0%
-1.0%
-1.5%
7.0%
—
Kilroy Realty Corporation · KRC
—
—
—
20%
19%
8.8%
10%
4.8%
2.9%
-5.3%
-4.8%
-1.1%
2.1%
6.3%
-2.9%
3.2%
-3.5%
-4.9%
-0.4%
—
Piedmont Realty Trust, Inc. · PDM
—
—
—
4.6%
9.9%
6.5%
4.4%
5.2%
2.1%
-1.4%
2.1%
0.0%
-5.4%
-1.4%
-1.4%
-2.1%
0.0%
0.0%
0.0%
—
SL Green Realty Corp. · SLG
—
—
—
-7.8%
3.4%
6.1%
31%
22%
-0.9%
-5.8%
-24%
-9.4%
9.5%
16%
28%
8.5%
6.5%
12%
5.4%
—
Vornado Realty Trust · VNO
—
—
—
20%
12%
6.2%
0.9%
4.2%
-1.3%
-1.1%
-2.2%
-4.7%
-1.8%
3.6%
6.0%
-2.0%
2.5%
-0.9%
-0.7%
—
06 · compare level, then change
Profit Scale & Acceleration
Vornado Realty Trust has the highest Net profit among the 17 REIT - Office companies compared here, at $910 million. Empire State Realty OP, L.P. is next at $56 million. The same company also holds the highest Profit growth, at the 100% top of the scoring scale. 9 of 17 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Vornado Realty Trust leads with $910 million of TTM profit, 16.3× the profit of Empire State Realty OP, L.P.. Vornado Realty Trust shows ≥100% on the scoring scale (287.2% uncapped) growth from a $910 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderVornado Realty Trust · $910 million
Gap16.3× versus #2 · Empire State Realty OP, L.P.
Persistence2/8 recent comparable periods
Coverage9/17 companies · 317 observations
Investor read: Vornado Realty Trust sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
Profit growthfastest growers
Net profit · company comparison
9/17 level · 6/17 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Alexandria Real Estate Equities, Inc. ARE | $398M | 921% | Mar 2026 |
| BXP, Inc. BXP | $133M | 53% | Jun 2026 |
| COPT Defense Properties CDP | $40M | 11% | Jun 2026 |
| Highwoods Properties, Inc. HIW | $33M | -67% | Jun 2026 |
| Net Lease Office Properties NLOP | $25M | 2,400% | Mar 2026 |
| Postal Realty Trust, Inc. PSTL | $5M | 67% | Mar 2026 |
| Empire State Realty OP, L.P. ESBA | $2M | -87% | Mar 2026 |
| Easterly Government Properties, Inc. DEA | $1M | -67% | Mar 2026 |
| Douglas Emmett, Inc. DEI | $-13M | -129% | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | $-13M | -137% | Jun 2026 |
| Orion Properties Inc. ONL | $-14M | -500% | Mar 2026 |
| Kilroy Realty Corporation KRC | $-15M | -134% | Jun 2026 |
| Vornado Realty Trust VNO | $-22M | -122% | Mar 2026 |
| Cousins Properties Incorporated CUZ | $-25M | -219% | Jun 2026 |
| Brandywine Realty Trust BDN | $-31M | -129% | Jun 2026 |
| Hudson Pacific Properties, Inc. HPP | $-51M | -875% | Mar 2026 |
| SL Green Realty Corp. SLG | $-60M | -645% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
$124M
$100M
$-117M
$309M
$383M
$95M
$122M
$134M
$68M
$-43M
$219M
$94M
$214M
$-16M
$39M
$-62M
$-198M
$-995M
$398M
—
BXP, Inc. · BXP
$139M
$223M
$177M
$267M
$421M
$156M
$106M
$136M
$-104M
$153M
$107M
$107M
$108M
$-238M
$87M
$119M
$-117M
$295M
$133M
—
COPT Defense Properties · CDP
$29M
$15M
$61M
$34M
$32M
$52M
$80M
$32M
$-221M
$35M
$34M
$36M
$37M
$36M
$36M
$40M
$44M
$39M
$40M
—
Cousins Properties Incorporated · CUZ
$54M
$167M
$28M
$34M
$81M
$24M
$22M
$23M
$19M
$19M
$13M
$8M
$11M
$14M
$21M
$15M
$9M
$-3M
$-25M
—
Douglas Emmett, Inc. · DEI
$16M
$19M
$26M
$24M
$21M
$25M
$16M
$-15M
$-21M
$-56M
$6M
$9M
$0M
$-8M
$45M
$-15M
$-21M
$-20M
$-13M
—
Easterly Government Properties, Inc. · DEA
$9M
$8M
$8M
$8M
$1M
$18M
$4M
$6M
$6M
$5M
$5M
$5M
$5M
$6M
$3M
$4M
$1M
$5M
$1M
—
Empire State Realty OP, L.P. · ESBA
$-11M
$-5M
$-18M
$47M
$9M
$21M
$11M
$36M
$19M
$15M
$9M
$28M
$22M
$18M
$15M
$10M
$13M
$31M
$2M
—
Highwoods Properties, Inc. · HIW
$76M
$129M
$42M
$53M
$40M
$29M
$45M
$44M
$23M
$39M
$27M
$65M
$15M
$-3M
$100M
$19M
$14M
$34M
$33M
—
Kilroy Realty Corporation · KRC
$53M
$67M
$59M
$54M
$87M
$59M
$65M
$61M
$59M
$52M
$56M
$55M
$58M
$60M
$44M
$80M
$162M
$33M
$-15M
—
Piedmont Realty Trust, Inc. · PDM
$11M
$-32M
$60M
$8M
$3M
$76M
$-1M
$-2M
$-17M
$-28M
$-28M
$-10M
$-12M
$-30M
$-10M
$-17M
$-13M
$-43M
$-13M
—
SL Green Realty Corp. · SLG
$416M
$22M
$33M
$-17M
$42M
$-54M
$-38M
$-379M
$-12M
$-121M
$26M
$8M
$-9M
$19M
$11M
$21M
$35M
$-104M
$-60M
—
Vornado Realty Trust · VNO
$72M
$-8M
$53M
$69M
$20M
$26M
$11M
$63M
$60M
$427M
$-6M
$40M
$-19M
$114M
$100M
$813M
$19M
$100M
$-22M
—
Profit growth · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
—
—
—
-24%
209%
-5.0%
—
-57%
-82%
-145%
80%
-30%
215%
—
-82%
-166%
-193%
—
921%
—
BXP, Inc. · BXP
—
—
—
89%
203%
-30%
-40%
-49%
-125%
-1.9%
0.9%
-21%
—
-256%
-19%
11%
-208%
—
53%
—
COPT Defense Properties · CDP
—
—
—
-23%
10%
247%
31%
-5.9%
-791%
-33%
-58%
13%
—
2.9%
5.9%
11%
19%
8.3%
11%
—
Cousins Properties Incorporated · CUZ
—
—
—
21%
50%
-86%
-21%
-32%
-77%
-21%
-41%
-65%
-42%
-26%
62%
88%
-18%
-121%
-219%
—
Douglas Emmett, Inc. · DEI
—
—
—
-52%
31%
32%
-38%
-163%
-200%
-324%
-63%
—
—
—
650%
-267%
—
—
-129%
—
Easterly Government Properties, Inc. · DEA
—
—
—
-11%
-89%
125%
-50%
-25%
500%
-72%
25%
-17%
-17%
20%
-40%
-20%
-80%
-17%
-67%
—
Empire State Realty OP, L.P. · ESBA
—
—
—
1,467%
—
—
—
-23%
111%
-29%
-18%
-22%
16%
20%
67%
-64%
-41%
72%
-87%
—
Highwoods Properties, Inc. · HIW
—
—
—
-15%
-47%
-78%
7.1%
-17%
-43%
34%
-40%
48%
-35%
-108%
270%
-71%
-6.7%
—
-67%
—
Kilroy Realty Corporation · KRC
—
—
—
26%
64%
-12%
10%
13%
-32%
-12%
-14%
-9.8%
-1.7%
15%
-21%
45%
179%
-45%
-134%
—
Piedmont Realty Trust, Inc. · PDM
—
—
—
-20%
-73%
—
-102%
-125%
-667%
-137%
—
—
—
—
—
—
—
—
—
—
SL Green Realty Corp. · SLG
—
—
—
-112%
-90%
-345%
-215%
—
-129%
—
—
—
—
—
-58%
163%
—
-647%
-645%
—
Vornado Realty Trust · VNO
—
—
—
-10%
-72%
—
-79%
-8.7%
200%
1,542%
-155%
-37%
-132%
-73%
—
1,933%
—
-12%
-122%
—
07 · compare level, then change
Funding Base & Its Composition
No company in this REIT - Office comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, BXP, Inc. is highest at $16,358 million, across 17 of 17 companies with a usable reading.
What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.
LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/17 companies · 0 observations
Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.
For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
—Not enough comparable data—
Borrowingslargest borrowings
Funding base · company comparison
0/17 level · 17/17 change
All-company data · latest reported quarter
| Company | Deposits | Borrowings | Reported |
|---|---|---|---|
| BXP, Inc. BXP | — | $16.4B | Jun 2026 |
| Alexandria Real Estate Equities, Inc. ARE | — | $12.5B | Mar 2026 |
| Vornado Realty Trust VNO | — | $8.4B | Mar 2026 |
| Cousins Properties Incorporated CUZ | — | $3.7B | Jun 2026 |
| Kilroy Realty Corporation KRC | — | $4.7B | Jun 2026 |
| COPT Defense Properties CDP | — | $2.6B | Jun 2026 |
| SL Green Realty Corp. SLG | — | $6.3B | Jun 2026 |
| Highwoods Properties, Inc. HIW | — | $3.5B | Jun 2026 |
| Douglas Emmett, Inc. DEI | — | $5.6B | Mar 2026 |
| Empire State Realty OP, L.P. ESBA | — | $2.3B | Mar 2026 |
| Easterly Government Properties, Inc. DEA | — | $1.7B | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | — | $2.3B | Jun 2026 |
| Postal Realty Trust, Inc. PSTL | — | $386M | Mar 2026 |
| Hudson Pacific Properties, Inc. HPP | — | $3.8B | Mar 2026 |
| Brandywine Realty Trust BDN | — | $2.6B | Jun 2026 |
| Net Lease Office Properties NLOP | — | $22M | Mar 2026 |
| Orion Properties Inc. ONL | — | $494M | Mar 2026 |
Full 20-quarter history · every available company
No consistent historical series is available for deposits.
Borrowings · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
$9.3B
$8.8B
$10.3B
$10.3B
$10.5B
$10.2B
$11.5B
$11.2B
$11.2B
$11.3B
$12.2B
$12.4B
$12.7B
$12.2B
$13.1B
$13.3B
$13.6B
$12.4B
$12.5B
—
BXP, Inc. · BXP
$13.8B
$13.3B
$13.5B
$14.1B
$14.3B
$14.7B
$15.2B
$15.9B
$15.6B
$16.6B
$16.2B
$16.1B
$17.0B
$17.0B
$16.4B
$16.6B
$17.3B
$17.4B
$16.4B
$16.4B
COPT Defense Properties · CDP
$2.2B
$2.3B
$2.2B
$2.2B
$2.3B
$2.3B
$2.2B
$2.2B
$2.4B
$2.5B
$2.5B
$2.4B
$2.4B
$2.4B
$2.5B
$2.5B
$2.5B
$2.8B
$2.6B
$2.6B
Cousins Properties Incorporated · CUZ
$2.0B
$2.2B
$2.3B
$2.3B
$2.3B
$2.3B
$2.4B
$2.4B
$2.4B
$2.5B
$2.6B
$2.6B
$2.7B
$3.1B
$3.0B
$3.5B
$3.3B
$3.3B
$3.8B
$3.7B
Douglas Emmett, Inc. · DEI
$5.0B
$5.0B
$5.0B
$5.2B
$5.2B
$5.2B
$5.2B
$5.3B
$5.6B
$5.6B
$5.6B
$5.6B
$5.5B
$5.5B
$5.6B
$5.6B
$5.6B
$5.6B
$5.6B
—
Easterly Government Properties, Inc. · DEA
$1.0B
$1.2B
$1.2B
$1.3B
$1.4B
$1.3B
$1.2B
$1.2B
$1.2B
$1.3B
$1.4B
$1.4B
$1.5B
$1.6B
$1.6B
$1.7B
$1.6B
$1.7B
$1.7B
—
Empire State Realty OP, L.P. · ESBA
$2.2B
$2.4B
$2.4B
$2.3B
$2.3B
$2.3B
$2.3B
$2.3B
$2.3B
$2.3B
$2.3B
$2.5B
$2.5B
$2.5B
$2.1B
$2.1B
$2.1B
$2.4B
$2.3B
—
Highwoods Properties, Inc. · HIW
$2.9B
$2.8B
$2.8B
$2.8B
$3.0B
$3.2B
$3.3B
$3.2B
$3.2B
$3.2B
$3.3B
$3.2B
$3.3B
$3.3B
$3.3B
$3.3B
$3.4B
$3.6B
$3.7B
$3.5B
Kilroy Realty Corporation · KRC
$4.0B
$4.2B
$4.2B
$4.2B
$4.2B
$4.4B
$4.5B
$4.5B
$5.1B
$5.1B
$5.2B
$5.2B
$5.1B
$4.7B
$4.7B
$4.7B
$4.7B
$4.7B
$4.7B
$4.7B
Piedmont Realty Trust, Inc. · PDM
$1.7B
$1.9B
$1.7B
$1.7B
$2.1B
$2.0B
$2.2B
$2.0B
$2.1B
$2.1B
$2.1B
$2.2B
$2.2B
$2.2B
$2.2B
$2.2B
$2.2B
$2.2B
$2.3B
$2.3B
SL Green Realty Corp. · SLG
$4.7B
$5.0B
$5.0B
$4.8B
$6.6B
$6.5B
$3.3B
$4.8B
$4.3B
$4.4B
$4.7B
$4.6B
$5.3B
$5.1B
$6.2B
$6.1B
$5.9B
$6.0B
$6.5B
$6.3B
Vornado Realty Trust · VNO
$9.0B
$9.0B
$9.3B
$9.1B
$9.1B
$9.1B
$9.0B
$9.0B
$9.0B
$9.0B
$9.0B
$9.0B
$9.0B
$9.0B
$8.5B
$7.8B
$7.9B
$7.9B
$8.4B
—
08 · compare level, then change
Return On Assets
Vornado Realty Trust has the highest ROA among the 17 REIT - Office companies compared here, at 4.7%. Empire State Realty OP, L.P. is next at 2.1%. Brandywine Realty Trust has the highest ROA change at +1.8 percentage points, so level and change sit with different companies. 17 of 17 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Vornado Realty Trust leads roa at 4.7%; Brandywine Realty Trust leads roa change at +1.8 percentage points.
LeaderVornado Realty Trust · 4.7%
Gap123.8% versus #2 · Empire State Realty OP, L.P.
Persistence2/8 recent comparable periods
Coverage17/17 companies · 325 observations
Investor read: Vornado Realty Trust sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roa change signal.
ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
ROA changefastest improvers
Return on assets · company comparison
17/17 level · 17/17 change
All-company data · latest reported quarter
| Company | ROA | ROA change | Reported |
|---|---|---|---|
| Vornado Realty Trust VNO | 4.7% | +1.6 pp | Mar 2026 |
| Empire State Realty OP, L.P. ESBA | 2.1% | −0.3 pp | Mar 2026 |
| BXP, Inc. BXP | 1.8% | +0.8 pp | Jun 2026 |
| COPT Defense Properties CDP | 1.4% | 0.0 pp | Jun 2026 |
| Postal Realty Trust, Inc. PSTL | 1.3% | +0.3 pp | Mar 2026 |
| Highwoods Properties, Inc. HIW | 0.9% | 0.0 pp | Jun 2026 |
| Cousins Properties Incorporated CUZ | 0.7% | 0.0 pp | Jun 2026 |
| Kilroy Realty Corporation KRC | 0.6% | −0.2 pp | Jun 2026 |
| Easterly Government Properties, Inc. DEA | 0.6% | 0.0 pp | Mar 2026 |
| Brandywine Realty Trust BDN | 0.6% | +1.8 pp | Jun 2026 |
| Net Lease Office Properties NLOP | 0.6% | −0.2 pp | Mar 2026 |
| Douglas Emmett, Inc. DEI | 0.5% | 0.0 pp | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | 0.5% | 0.0 pp | Jun 2026 |
| Alexandria Real Estate Equities, Inc. ARE | 0.3% | 0.0 pp | Mar 2026 |
| SL Green Realty Corp. SLG | 0.3% | −0.5 pp | Jun 2026 |
| Hudson Pacific Properties, Inc. HPP | -0.2% | +0.1 pp | Mar 2026 |
| Orion Properties Inc. ONL | -0.3% | −0.2 pp | Mar 2026 |
Full 20-quarter history · every available company
ROA · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
0.4%
0.5%
0.5%
0.5%
0.4%
0.4%
0.5%
0.0%
0.5%
-0.2%
0.6%
0.5%
0.6%
0.0%
0.3%
0.1%
-0.5%
-4.3%
0.3%
—
BXP, Inc. · BXP
1.1%
1.1%
1.1%
1.2%
1.2%
1.1%
1.0%
1.1%
1.1%
1.0%
1.0%
1.0%
1.0%
1.0%
1.0%
1.0%
1.0%
1.0%
0.9%
1.8%
COPT Defense Properties · CDP
1.0%
1.3%
1.0%
1.1%
1.1%
1.1%
1.1%
1.1%
-4.8%
1.2%
1.2%
1.3%
1.3%
1.3%
1.3%
1.4%
1.3%
1.3%
1.3%
1.4%
Cousins Properties Incorporated · CUZ
0.6%
0.6%
0.6%
0.6%
0.6%
0.6%
0.6%
0.6%
0.6%
0.6%
0.5%
0.5%
0.6%
0.6%
0.7%
0.7%
0.6%
0.6%
0.3%
0.7%
Douglas Emmett, Inc. · DEI
0.6%
0.6%
0.6%
0.6%
0.6%
0.7%
0.6%
0.3%
0.3%
0.3%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
0.5%
0.5%
0.5%
—
Easterly Government Properties, Inc. · DEA
0.7%
0.7%
0.7%
0.7%
0.6%
0.6%
0.5%
0.6%
0.6%
0.6%
0.6%
0.6%
0.7%
0.7%
0.6%
0.7%
0.7%
0.6%
0.6%
—
Empire State Realty OP, L.P. · ESBA
1.6%
0.8%
1.7%
0.4%
2.7%
2.1%
2.3%
1.1%
2.8%
2.5%
2.4%
1.8%
2.3%
2.6%
2.4%
1.5%
2.1%
2.4%
2.1%
—
Highwoods Properties, Inc. · HIW
1.1%
1.1%
1.1%
0.5%
1.0%
1.0%
1.1%
1.0%
0.9%
0.8%
0.9%
1.0%
0.8%
0.4%
0.9%
0.9%
0.7%
0.9%
0.8%
0.9%
Kilroy Realty Corporation · KRC
0.7%
0.8%
0.8%
0.7%
0.8%
0.8%
0.8%
0.8%
0.7%
0.7%
0.7%
0.7%
0.7%
0.8%
0.7%
0.8%
0.7%
0.6%
0.6%
0.6%
Piedmont Realty Trust, Inc. · PDM
0.6%
0.5%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
0.3%
0.0%
0.1%
0.5%
0.5%
0.0%
0.5%
0.5%
0.5%
0.5%
0.5%
0.5%
SL Green Realty Corp. · SLG
0.5%
0.5%
0.3%
0.5%
0.5%
0.3%
0.1%
0.4%
0.2%
0.1%
0.1%
0.4%
-0.3%
0.5%
0.5%
0.8%
0.1%
0.4%
0.2%
0.3%
Vornado Realty Trust · VNO
0.5%
-1.2%
0.4%
2.1%
-0.7%
0.2%
0.3%
0.6%
0.3%
2.7%
-4.8%
-0.9%
-1.5%
0.4%
3.1%
-1.0%
-1.7%
0.4%
4.7%
—
ROA change · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
—
—
—
—
0.0 pp
−0.1 pp
0.0 pp
−0.5 pp
+0.1 pp
−0.6 pp
+0.1 pp
+0.5 pp
+0.1 pp
+0.2 pp
−0.3 pp
−0.4 pp
−1.1 pp
−4.3 pp
0.0 pp
—
BXP, Inc. · BXP
—
—
—
—
+0.1 pp
0.0 pp
−0.1 pp
−0.1 pp
−0.1 pp
−0.1 pp
0.0 pp
−0.1 pp
−0.1 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
−0.1 pp
+0.8 pp
COPT Defense Properties · CDP
—
—
—
—
+0.1 pp
−0.2 pp
+0.1 pp
0.0 pp
−5.9 pp
+0.1 pp
+0.1 pp
+0.2 pp
+6.1 pp
+0.1 pp
+0.1 pp
+0.1 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
Cousins Properties Incorporated · CUZ
—
—
—
—
0.0 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
−0.1 pp
−0.1 pp
0.0 pp
0.0 pp
+0.2 pp
+0.2 pp
0.0 pp
0.0 pp
−0.4 pp
0.0 pp
Douglas Emmett, Inc. · DEI
—
—
—
—
0.0 pp
+0.1 pp
0.0 pp
−0.3 pp
−0.3 pp
−0.4 pp
0.0 pp
+0.3 pp
+0.2 pp
+0.2 pp
−0.1 pp
−0.1 pp
0.0 pp
0.0 pp
0.0 pp
—
Easterly Government Properties, Inc. · DEA
—
—
—
—
−0.1 pp
−0.1 pp
−0.2 pp
−0.1 pp
0.0 pp
0.0 pp
+0.1 pp
0.0 pp
+0.1 pp
+0.1 pp
0.0 pp
+0.1 pp
0.0 pp
−0.1 pp
0.0 pp
—
Empire State Realty OP, L.P. · ESBA
—
—
—
—
+1.1 pp
+1.3 pp
+0.6 pp
+0.7 pp
+0.1 pp
+0.4 pp
+0.1 pp
+0.7 pp
−0.5 pp
+0.1 pp
0.0 pp
−0.3 pp
−0.2 pp
−0.2 pp
−0.3 pp
—
Highwoods Properties, Inc. · HIW
—
—
—
—
−0.1 pp
−0.1 pp
0.0 pp
+0.5 pp
−0.1 pp
−0.2 pp
−0.2 pp
0.0 pp
−0.1 pp
−0.4 pp
0.0 pp
−0.1 pp
−0.1 pp
+0.5 pp
−0.1 pp
0.0 pp
Kilroy Realty Corporation · KRC
—
—
—
—
+0.1 pp
0.0 pp
0.0 pp
+0.1 pp
−0.1 pp
−0.1 pp
−0.1 pp
−0.1 pp
0.0 pp
+0.1 pp
0.0 pp
+0.1 pp
0.0 pp
−0.2 pp
−0.1 pp
−0.2 pp
Piedmont Realty Trust, Inc. · PDM
—
—
—
—
−0.1 pp
0.0 pp
−0.1 pp
−0.1 pp
−0.2 pp
−0.5 pp
−0.4 pp
0.0 pp
+0.2 pp
0.0 pp
+0.4 pp
0.0 pp
0.0 pp
+0.5 pp
0.0 pp
0.0 pp
SL Green Realty Corp. · SLG
—
—
—
—
0.0 pp
−0.2 pp
−0.2 pp
−0.1 pp
−0.3 pp
−0.2 pp
0.0 pp
0.0 pp
−0.5 pp
+0.4 pp
+0.4 pp
+0.4 pp
+0.4 pp
−0.1 pp
−0.3 pp
−0.5 pp
Vornado Realty Trust · VNO
—
—
—
—
−1.2 pp
+1.4 pp
−0.1 pp
−1.5 pp
+1.0 pp
+2.5 pp
−5.1 pp
−1.5 pp
−1.8 pp
−2.3 pp
+7.9 pp
−0.1 pp
−0.2 pp
0.0 pp
+1.6 pp
—
09 · compare level, then change
ROE — Leaders & Improvers
Empire State Realty OP, L.P. has the highest ROE among the 17 REIT - Office companies compared here, at 7.1%. Net Lease Office Properties is next at 6.6%. Net Lease Office Properties has the highest ROE change at +6.5 percentage points, so level and change sit with different companies. Its ROE series carries 19 reported observations across the 20-quarter window.
What the numbers say: Empire State Realty OP, L.P. leads roe at 7.1%; Net Lease Office Properties leads roe change at +6.5 percentage points.
LeaderEmpire State Realty OP, L.P. · 7.1%
Gap7.6% versus #2 · Net Lease Office Properties
Persistence4/8 recent comparable periods
Coverage17/17 companies · 325 observations
Investor read: Empire State Realty OP, L.P. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roe change signal.
ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
ROE changefastest improvers
Return on equity · company comparison
17/17 level · 17/17 change
All-company data · latest reported quarter
| Company | ROE | ROE change | Reported |
|---|---|---|---|
| Empire State Realty OP, L.P. ESBA | 7.1% | +2.9 pp | Mar 2026 |
| Net Lease Office Properties NLOP | 6.6% | +6.5 pp | Mar 2026 |
| Highwoods Properties, Inc. HIW | 3.9% | +3.1 pp | Jun 2026 |
| COPT Defense Properties CDP | 3.0% | +0.5 pp | Jun 2026 |
| Alexandria Real Estate Equities, Inc. ARE | 1.9% | +1.7 pp | Mar 2026 |
| Postal Realty Trust, Inc. PSTL | 1.4% | +0.6 pp | Mar 2026 |
| BXP, Inc. BXP | 1.3% | −0.2 pp | Jun 2026 |
| Cousins Properties Incorporated CUZ | 0.6% | +0.3 pp | Jun 2026 |
| Kilroy Realty Corporation KRC | 0.4% | −1.0 pp | Jun 2026 |
| SL Green Realty Corp. SLG | 0.1% | −0.4 pp | Jun 2026 |
| Easterly Government Properties, Inc. DEA | 0.1% | −0.1 pp | Mar 2026 |
| Vornado Realty Trust VNO | -0.3% | −1.9 pp | Mar 2026 |
| Douglas Emmett, Inc. DEI | -0.4% | −1.6 pp | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | -0.7% | +0.3 pp | Jun 2026 |
| Hudson Pacific Properties, Inc. HPP | -1.7% | +0.9 pp | Mar 2026 |
| Brandywine Realty Trust BDN | -1.8% | +3.6 pp | Jun 2026 |
| Orion Properties Inc. ONL | -2.0% | −0.8 pp | Mar 2026 |
Full 20-quarter history · every available company
ROE · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
0.8%
0.6%
-0.7%
1.7%
2.0%
0.5%
0.6%
0.6%
0.3%
-0.2%
1.0%
0.4%
0.9%
-0.1%
0.2%
-0.3%
-0.9%
-4.8%
1.9%
—
BXP, Inc. · BXP
1.7%
2.7%
2.2%
3.3%
5.1%
1.9%
1.3%
1.7%
-1.3%
1.8%
1.3%
1.3%
1.3%
-2.9%
1.1%
1.5%
-1.5%
3.8%
1.7%
1.3%
COPT Defense Properties · CDP
1.7%
0.9%
3.5%
1.9%
1.8%
3.0%
4.5%
1.8%
-13%
2.1%
2.0%
2.1%
2.3%
2.3%
2.3%
2.5%
2.7%
2.4%
2.5%
3.0%
Cousins Properties Incorporated · CUZ
1.2%
3.7%
0.6%
0.8%
1.8%
0.5%
0.5%
0.5%
0.4%
0.4%
0.3%
0.2%
0.3%
0.3%
0.5%
0.3%
0.2%
-0.1%
-0.5%
0.6%
Douglas Emmett, Inc. · DEI
0.4%
0.5%
0.6%
0.6%
0.5%
0.6%
0.4%
-0.4%
-0.5%
-1.4%
0.2%
0.2%
0.0%
-0.2%
1.2%
-0.4%
-0.6%
-0.6%
-0.4%
—
Easterly Government Properties, Inc. · DEA
0.7%
0.6%
0.6%
0.6%
0.1%
1.3%
0.3%
0.4%
0.4%
0.3%
0.3%
0.3%
0.4%
0.4%
0.2%
0.3%
0.1%
0.3%
0.1%
—
Empire State Realty OP, L.P. · ESBA
1.0%
-2.4%
-1.0%
-4.1%
12%
2.4%
5.2%
2.8%
8.7%
4.6%
3.7%
2.4%
6.6%
5.2%
4.2%
3.5%
2.5%
3.0%
7.1%
—
Highwoods Properties, Inc. · HIW
3.2%
5.3%
1.7%
2.2%
1.6%
1.2%
1.8%
1.8%
0.9%
1.6%
1.1%
2.6%
0.6%
-0.1%
4.1%
0.8%
0.6%
1.4%
1.3%
3.9%
Kilroy Realty Corporation · KRC
1.0%
1.2%
1.0%
1.0%
1.5%
1.0%
1.2%
1.1%
1.0%
0.9%
1.0%
1.0%
1.0%
1.7%
0.8%
1.4%
2.9%
0.6%
-0.3%
0.4%
Piedmont Realty Trust, Inc. · PDM
0.6%
-1.7%
3.2%
0.4%
0.2%
4.2%
-0.1%
-0.1%
-1.0%
-1.6%
-1.6%
-0.6%
-0.7%
-1.8%
-0.6%
-1.0%
-0.8%
-2.8%
-0.8%
-0.7%
SL Green Realty Corp. · SLG
7.3%
0.4%
0.6%
-0.3%
0.8%
-1.0%
-0.7%
-7.7%
-0.2%
-2.6%
0.6%
0.2%
-0.2%
0.4%
0.2%
0.5%
0.8%
-2.3%
-1.4%
0.1%
Vornado Realty Trust · VNO
1.0%
-0.1%
0.7%
1.0%
0.3%
0.4%
0.2%
0.9%
0.9%
6.6%
-0.1%
0.6%
-0.3%
1.8%
1.6%
12%
0.3%
1.5%
-0.3%
—
ROE change · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
—
—
—
—
+1.2 pp
−0.1 pp
+1.3 pp
−1.1 pp
−1.7 pp
−0.7 pp
+0.4 pp
−0.2 pp
+0.6 pp
+0.1 pp
−0.8 pp
−0.7 pp
−1.8 pp
−4.7 pp
+1.7 pp
—
BXP, Inc. · BXP
—
—
—
—
+3.4 pp
−0.8 pp
−0.9 pp
−1.6 pp
−6.4 pp
−0.1 pp
0.0 pp
−0.4 pp
+2.6 pp
−4.7 pp
−0.2 pp
+0.2 pp
−2.8 pp
+6.7 pp
+0.6 pp
−0.2 pp
COPT Defense Properties · CDP
—
—
—
—
+0.1 pp
+2.1 pp
+1.0 pp
−0.1 pp
−15.0 pp
−0.9 pp
−2.5 pp
+0.3 pp
+15.5 pp
+0.2 pp
+0.3 pp
+0.4 pp
+0.4 pp
+0.1 pp
+0.2 pp
+0.5 pp
Cousins Properties Incorporated · CUZ
—
—
—
—
+0.6 pp
−3.2 pp
−0.1 pp
−0.3 pp
−1.4 pp
−0.1 pp
−0.2 pp
−0.3 pp
−0.1 pp
−0.1 pp
+0.2 pp
+0.1 pp
−0.1 pp
−0.4 pp
−1.0 pp
+0.3 pp
Douglas Emmett, Inc. · DEI
—
—
—
—
+0.1 pp
+0.1 pp
−0.2 pp
−1.0 pp
−1.0 pp
−2.0 pp
−0.2 pp
+0.6 pp
+0.5 pp
+1.2 pp
+1.0 pp
−0.6 pp
−0.6 pp
−0.4 pp
−1.6 pp
—
Easterly Government Properties, Inc. · DEA
—
—
—
—
−0.6 pp
+0.7 pp
−0.3 pp
−0.2 pp
+0.3 pp
−1.0 pp
0.0 pp
−0.1 pp
0.0 pp
+0.1 pp
−0.1 pp
0.0 pp
−0.3 pp
−0.1 pp
−0.1 pp
—
Empire State Realty OP, L.P. · ESBA
—
—
—
—
+10.7 pp
+4.8 pp
+6.2 pp
+6.9 pp
−3.0 pp
+2.2 pp
−1.5 pp
−0.4 pp
−2.1 pp
+0.6 pp
+0.5 pp
+1.1 pp
−4.1 pp
−2.2 pp
+2.9 pp
—
Highwoods Properties, Inc. · HIW
—
—
—
—
−1.6 pp
−4.1 pp
+0.1 pp
−0.4 pp
−0.7 pp
+0.4 pp
−0.7 pp
+0.8 pp
−0.3 pp
−1.7 pp
+3.0 pp
−1.8 pp
0.0 pp
+1.5 pp
−2.8 pp
+3.1 pp
Kilroy Realty Corporation · KRC
—
—
—
—
+0.5 pp
−0.2 pp
+0.2 pp
+0.1 pp
−0.5 pp
−0.1 pp
−0.2 pp
−0.1 pp
0.0 pp
+0.8 pp
−0.2 pp
+0.4 pp
+1.9 pp
−1.1 pp
−1.1 pp
−1.0 pp
Piedmont Realty Trust, Inc. · PDM
—
—
—
—
−0.4 pp
+5.9 pp
−3.3 pp
−0.5 pp
−1.2 pp
−5.8 pp
−1.5 pp
−0.5 pp
+0.3 pp
−0.2 pp
+1.0 pp
−0.4 pp
−0.1 pp
−1.0 pp
−0.2 pp
+0.3 pp
SL Green Realty Corp. · SLG
—
—
—
—
−6.5 pp
−1.4 pp
−1.3 pp
−7.4 pp
−1.0 pp
−1.6 pp
+1.3 pp
+7.9 pp
0.0 pp
+3.0 pp
−0.4 pp
+0.3 pp
+1.0 pp
−2.7 pp
−1.6 pp
−0.4 pp
Vornado Realty Trust · VNO
—
—
—
—
−0.7 pp
+0.5 pp
−0.5 pp
−0.1 pp
+0.6 pp
+6.2 pp
−0.3 pp
−0.3 pp
−1.2 pp
−4.8 pp
+1.7 pp
+11.5 pp
+0.6 pp
−0.3 pp
−1.9 pp
—
10 · not available
Gross NPA — Leaders & Improvers
No company in this REIT - Office comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 17 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.
Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
11 · compare level, then change
Valuation Against Growth & Quality
Empire State Realty OP, L.P. has the lowest P/BV ÷ ROE among the 17 REIT - Office companies compared here, at 0.11×. Net Lease Office Properties is next at 0.15×. Hudson Pacific Properties, Inc. has the lowest P/BV at 0.11×, so level and change sit with different companies.
What the numbers say: Empire State Realty OP, L.P. has the lowest comparable P/BV ÷ ROE at 0.11×, 26.7% below Net Lease Office Properties. Only 11 of 17 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderEmpire State Realty OP, L.P. · 0.11×
Gap26.7% versus #2 · Net Lease Office Properties
Persistence0/8 recent comparable periods
Coverage11/17 companies · 217 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
P/BVlowest P/BV
Valuation · company comparison
11/17 level · 17/17 change
All-company data · latest reported quarter
| Company | P/BV ÷ ROE | P/BV | Reported |
|---|---|---|---|
| SL Green Realty Corp. SLG | 10.8 | 1.1 | Jun 2026 |
| Easterly Government Properties, Inc. DEA | 7.6 | 0.8 | Mar 2026 |
| Hudson Pacific Properties, Inc. HPP | 6.2 | 0.1 | Mar 2026 |
| Kilroy Realty Corporation KRC | 2.1 | 0.8 | Jun 2026 |
| Cousins Properties Incorporated CUZ | 1.8 | 1.1 | Jun 2026 |
| BXP, Inc. BXP | 1.6 | 2.1 | Jun 2026 |
| Postal Realty Trust, Inc. PSTL | 1.3 | 1.8 | Mar 2026 |
| Douglas Emmett, Inc. DEI | 1.1 | 0.8 | Mar 2026 |
| COPT Defense Properties CDP | 0.9 | 2.7 | Jun 2026 |
| Brandywine Realty Trust BDN | 0.8 | 0.8 | Jun 2026 |
| Vornado Realty Trust VNO | 0.7 | 0.8 | Mar 2026 |
| Highwoods Properties, Inc. HIW | 0.4 | 1.4 | Jun 2026 |
| Alexandria Real Estate Equities, Inc. ARE | 0.3 | 0.5 | Mar 2026 |
| Net Lease Office Properties NLOP | 0.2 | 1.0 | Mar 2026 |
| Piedmont Realty Trust, Inc. PDM | 0.1 | 0.8 | Jun 2026 |
| Empire State Realty OP, L.P. ESBA | 0.1 | 0.8 | Mar 2026 |
| Orion Properties Inc. ONL | — | 0.2 | Mar 2026 |
Full 20-quarter history · every available company
P/BV ÷ ROE · reported quarter history
Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
2.5
3.6
—
0.8
0.7
2.6
1.9
1.7
3.1
—
1.2
2.8
1.2
—
4.5
—
—
—
0.3
—
BXP, Inc. · BXP
1.7
1.1
1.6
0.7
0.4
0.9
1.1
0.9
—
1.0
1.4
1.3
1.7
—
1.8
1.4
—
0.6
0.9
1.6
COPT Defense Properties · CDP
1.1
2.2
0.6
0.9
0.9
0.6
0.3
0.9
—
0.9
0.9
0.9
1.0
1.0
0.9
0.8
0.8
0.9
0.9
0.9
Cousins Properties Incorporated · CUZ
1.1
0.4
2.2
1.2
0.4
1.7
1.4
1.5
1.7
2.1
2.7
4.0
3.4
3.5
2.1
3.5
5.2
—
—
1.8
Douglas Emmett, Inc. · DEI
5.8
4.9
3.9
2.6
2.4
1.8
2.2
—
—
—
5.3
5.2
—
—
1.1
—
—
—
—
—
Easterly Government Properties, Inc. · DEA
2.1
2.7
2.5
2.3
11.4
0.8
3.4
2.7
2.2
3.4
3.0
3.3
2.7
2.3
4.5
2.5
7.9
2.5
7.6
—
Empire State Realty OP, L.P. · ESBA
1.7
—
—
—
0.1
0.4
0.2
0.4
0.1
0.3
0.4
0.6
0.3
0.3
0.3
0.4
0.5
0.3
0.1
—
Highwoods Properties, Inc. · HIW
0.6
0.4
1.2
0.7
0.7
1.0
0.6
0.6
1.0
0.6
1.0
0.4
2.5
—
0.3
1.8
2.4
0.9
0.8
0.4
Kilroy Realty Corporation · KRC
1.4
1.2
1.6
1.1
0.6
0.8
0.6
0.6
0.7
1.0
0.8
0.7
0.9
0.5
0.9
0.5
0.3
1.4
—
2.1
Piedmont Realty Trust, Inc. · PDM
1.9
—
0.4
2.2
3.7
0.1
—
—
—
—
—
—
—
—
—
—
—
—
—
—
SL Green Realty Corp. · SLG
0.1
2.5
1.8
—
0.7
—
—
—
—
—
1.6
5.0
—
3.1
5.4
2.3
1.4
—
—
10.8
Vornado Realty Trust · VNO
1.3
—
2.0
0.9
2.3
1.7
2.6
0.7
0.8
0.2
—
1.5
—
0.9
0.8
0.1
4.3
0.7
—
—
P/BV · reported quarter history
Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alexandria Real Estate Equities, Inc. · ARE
2.0
2.2
1.9
1.4
1.3
1.3
1.1
1.0
0.9
1.2
1.2
1.1
1.1
0.9
0.9
0.7
0.9
0.5
0.5
—
BXP, Inc. · BXP
3.0
3.1
3.5
2.4
1.9
1.7
1.4
1.5
1.6
1.9
1.8
1.7
2.2
2.2
2.0
2.0
2.4
2.1
1.6
2.1
COPT Defense Properties · CDP
1.9
1.9
1.9
1.8
1.6
1.7
1.6
1.5
1.8
1.9
1.8
1.9
2.3
2.3
2.1
2.1
2.2
2.1
2.3
2.7
Cousins Properties Incorporated · CUZ
1.3
1.3
1.3
1.0
0.8
0.8
0.7
0.8
0.7
0.8
0.8
0.8
1.0
1.1
1.0
1.1
1.0
0.9
0.8
1.1
Douglas Emmett, Inc. · DEI
2.3
2.4
2.3
1.6
1.2
1.1
0.9
0.9
0.9
1.1
1.1
1.0
1.4
1.5
1.3
1.3
1.3
1.0
0.8
—
Easterly Government Properties, Inc. · DEA
1.5
1.6
1.5
1.4
1.1
1.0
1.0
1.1
0.9
1.0
0.9
1.0
1.1
0.9
0.9
0.8
0.8
0.7
0.8
—
Empire State Realty OP, L.P. · ESBA
1.7
1.5
1.7
1.2
1.1
1.1
1.1
1.2
1.3
1.5
1.6
1.4
1.6
1.6
1.2
1.2
1.2
1.0
0.8
—
Highwoods Properties, Inc. · HIW
1.9
1.9
2.0
1.4
1.1
1.2
1.0
1.0
0.9
1.0
1.2
1.2
1.5
1.4
1.3
1.4
1.5
1.2
1.0
1.4
Kilroy Realty Corporation · KRC
1.4
1.4
1.6
1.1
0.9
0.8
0.7
0.7
0.7
0.9
0.8
0.7
0.9
0.9
0.7
0.8
0.9
0.8
0.6
0.8
Piedmont Realty Trust, Inc. · PDM
1.2
1.3
1.2
0.9
0.7
0.6
0.5
0.5
0.4
0.5
0.5
0.5
0.8
0.7
0.6
0.6
0.7
0.7
0.6
0.8
SL Green Realty Corp. · SLG
0.9
1.0
1.1
0.6
0.6
0.5
0.3
0.5
0.6
0.8
1.0
1.0
1.3
1.2
1.1
1.2
1.1
0.9
0.7
1.1
Vornado Realty Trust · VNO
1.3
1.3
1.4
0.9
0.7
0.7
0.5
0.6
0.7
1.0
1.0
0.9
1.4
1.6
1.3
1.2
1.3
1.1
0.8
—
12 · before the conclusion, check the blind spots
What can make this comparison misleading?
This REIT - Office comparison names 6 specific ways its own evidence can mislead, all listed below. All 17 companies here report on comparable dates, so no rank carries a stale marker. 2 of the 7 ranked sections have fewer than three usable current readings. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.
13 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 17 REIT - Office companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-08-04 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
14 · questions investors ask, short speakable answers
REIT - Office company comparison FAQs
These 21 answers restate the REIT - Office comparison above in question form. Every one is computed from the same 17 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.
Is the REIT - Office sector outperforming S&P 500?
REIT - Office has underperformed S&P 500 by 17.3% over 52 weeks and 5.5% over 13 weeks. 7 of 17 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 17 beat the sector itself.
Which REIT - Office company is largest by income?
Alexandria Real Estate Equities, Inc. leads with income of $2,939 million, based on 9 of 17 comparable companies through Mar 2026.
Which REIT - Office company is growing fastest?
Postal Realty Trust, Inc. has the fastest current income growth at 23.5%, across 9 of 17 comparable companies.
Which REIT - Office company has the strongest 4-Factor Sector Score?
Vornado Realty Trust ranks first at 64.5/100 with 64% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which REIT - Office company has the lowest comparable P/BV-to-ROE?
Empire State Realty OP, L.P. has the lowest comparable P/BV ÷ ROE at 0.11, among 11 of 17 companies whose earnings and growth are steady enough for the ratio to mean anything.
How much history does this REIT - Office comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Which REIT - Office company is the biggest?
Alexandria Real Estate Equities, Inc. is the largest, with trailing-twelve-month income of $2,939 million, ahead of Vornado Realty Trust at $1,808 million. That covers 9 of 17 companies with comparable reporting through Mar 2026.
Which REIT - Office company makes the most profit?
Vornado Realty Trust earns the most, at $910 million of trailing-twelve-month net profit, from 9 of 17 comparable companies. Vornado Realty Trust has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which REIT - Office company earns the highest return on capital?
Vornado Realty Trust leads on return on assets at 4.7%, across 17 of 17 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which REIT - Office stock is the cheapest?
On price-to-book divided by return on equity — where a LOWER number is cheaper — Empire State Realty OP, L.P. screens cheapest at 0.11×. Only 11 of 17 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Is the REIT - Office sector beating the market?
REIT - Office has underperformed S&P 500 by 17.3% over the last 52 weeks and 5.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 17 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which REIT - Office stock has the strongest price momentum?
Postal Realty Trust, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which REIT - Office company scores highest for research priority?
Vornado Realty Trust scores 64.5 out of 100 with 64% evidence confidence, from 22.1 points on growth and earnings, 14.8 on capital efficiency, 9.8 on valuation and 17.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many REIT - Office companies does this comparison cover, and over what period?
It compares 17 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the REIT - Office sector?
The 17 REIT - Office companies on this page carry $60,281 million of combined market value. BXP, Inc. is the largest at $12,601 million, about 21% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.
What is the REIT - Office sector's P/B ratio?
The median price-to-book ratio across the 17 REIT - Office companies on this page is 0.8×, measured on the 17 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.
How is the REIT - Office sector performing?
7 of the 17 covered REIT - Office companies are beating S&P 500 on Mansfield relative strength. The sector itself is 17.3% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.
How many REIT - Office stocks are listed in the US?
This comparison covers 17 listed REIT - Office companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.