Real estate investment trusts (REITs) are publicly traded companies that own, operate, and manage income-producing real estate properties. They offer a way for investors to invest in real estate without owning physical property. REITs have gained popularity in recent years, so many job opportunities have emerged in this industry. This article will explore how many jobs are available in real estate investment trusts.
Overview of REITs
The U.S. Congress created REITs in 1960 to allow small investors to participate in large-scale, income-producing real estate investments. REITs must distribute at least 90% of their taxable income to their shareholders as dividends, making them an attractive investment for income-seeking investors. REITs can invest in various real estate properties, including residential, commercial, and industrial properties.
According to the National Association of Real Estate Investment Trusts (Nareit), there were 224 REITs in the U.S. as of December 31, 2021. These REITs had a total market capitalization of $1.47 trillion and held more than $3.5 trillion in real estate assets. The top property types held by REITs were:
- Office properties (27%)
- Apartments (24%)
- Industrial properties (15%)
- Retail properties (14%)
- Specialized properties (20%)
How many jobs are available in REITs?
According to a report by the Urban Land Institute, the U.S. real estate industry employed 9.3 million people in 2019, accounting for 6% of the country’s workforce. While it’s difficult to determine exactly how many of these jobs are in REITs, we can estimate based on the number of REITs and the types of jobs they typically offer.
REITs employ many professionals, including property managers, leasing agents, financial analysts, and asset managers. In addition, REITs also require legal, accounting, and administrative support. Many REITs also have their development and construction teams to oversee new projects.
According to Nareit, the top 10 REIT employers in the U.S. as of December 31, 2021, were:
- Simon Property Group
- Equity Residential
- Prologis, Inc.
- Ventas, Inc.
- Boston Properties, Inc.
- Public Storage
- AvalonBay Communities, Inc.
- Welltower Inc.
- Digital Realty Trust, Inc.
- Essex Property Trust, Inc.
These 10 REITs alone had a total of 93,000 employees, giving us an idea of the industry’s employment scale.
The job market for REITs is expected to grow as more investors seek exposure to real estate through REITs. A report by PwC predicts that the U.S. REIT market will grow at a compound annual rate of 6.8% from 2021 to 2025.
How to find a job in REITs
If you’re interested in pursuing a career in REITs, there are several ways to get started. Many REITs post job openings on their websites or search sites like LinkedIn and Indeed. You can also attend industry conferences and networking events to meet professionals and learn about job opportunities.
In addition, several professional organizations offer resources and networking opportunities for those interested in real estate careers, including the Urban Land Institute, the National Association of Real Estate Investment Trusts, and the International Council of Shopping Centers.
Conclusion
REITs offer a unique way for investors to invest in real estate, and as a result, the industry has seen significant growth in recent years. With a total market capitalization of $1.47 trillion and over $3.5 trillion in real estate assets, REITs offer various job opportunities for professionals in various fields.
While it’s difficult to determine the exact number of jobs available in REITs, we can estimate based on the number of REITs and the types of jobs they typically offer. The top 10 REIT employers in the U.S. alone have a total of 93,000 employees, giving us an idea of the industry’s employment scale.
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