"SG&A Benchmarks – Real Estate Sector 2018" provides SG&A spending information for 235 publicly traded companies in two industries within the real estate sector. Of these companies, 18 are non-U.S. headquartered. SG&A expenses are composed of all the commercial expenses of operation incurred in the regular course of business pertaining to the securing of operating income. Frequently SG&A to Sales ratios are used to judge overhead or cost of sales.
The industry sector summary displays median SG&A to Sales ratio by industry as well as 10 and 90 percentile values to give an idea of the range of values reported by firms within the industry. The tables by individual industry present SG&A as a percentage of sales and the annual percentage growth in SG&A spending as well as in sales for each company within the industry. Comparing the growth rate of SG&A expenses and sales gives a snapshot of where the profitability of the firm may be heading. The firms are presented in three groups as defined by sales of less that $100 million, sales between $100 million and $1 billion, and sales of more than $1 billion.
Two sets of industry tabulations are presented. Alphabetical order by company name aids in locating a firm. Order by SG&A to Sales ratio showcases the leaner and meaner firms in each category. Published July 2018.
This report will benefit corporate staff, financial analysts, investment professionals, lenders, M&A advisors, appraisers and industry consultants.
Individual Industries:
- Equity Real Estate Investment Trusts (REITs)
- Real Estate Management & Development
Table of Contents
1. Sector summary chart
2. Equity Real Estate Investment Trusts (REITs) companies
3. Real Estate Management & Development companies
Companies Mentioned
- Acadia Realty Trust
- Advanced Oxygen Technology
- Agree Realty Corp
- Alexander & Baldwin Inc
- Alexander's Inc
- Alexandria R E Equities Inc
- Altisource Portfolio Soltns
- American Assets Trust Inc
- American Campus Communities
- American Homes 4 Rent
- American Realty Investors
- American Tower Corp
- Apartment Invst & Mgmt Co
- Apple Hospitality Reit Inc
- Armada Hoffler Properties
- Ashford Hospitality Prme Inc
- Ashford Hospitality Trust
- Avalonbay Communities Inc
- Behringer Harvard Opp Reit I
- Blue Ridge Real Estate Co
- Bluerock Residential Growth
- Boardwalk Real Estate Trust
- Boston Properties Inc
- Brandywine Realty Trust
- Bre Select Hotels Corp
- Brixmor Operating Prtnrs Lp
- Brixmor Property Group Inc
- Brookfield Cda Office Pptys
- Brookfield Property Prtrs Lp
- Brt Apartments Corp
- Camden Property Trust
- Capital Properties Inc
- Care Capital Pptys Inc
- Caretrust Reit Inc
- Catchmark Timber Trust
- Cbl & Associates Pptys Inc
- Cedar Realty Trust Inc
- Chatham Lodging Trust
- Chesapeake Lodging Trust
- City Office Reit Inc
- Clipper Realty Inc
- Cnl Lifestyle Properties Inc
- Cole Credit Property Tr Iv
- Colliers Intl Group Inc
- Colony Starwood Homes
- Columbia Property Trust Inc
- Community Healthcare Trust
- Condor Hospitality Tr Inc
- Consolidated Tomoka Land Co
- Corecivic Inc
- Corenergy Infrastructure Tr
- Coresite Realty Corp
- Corporate Office Propert
- Cosmos Holdings Inc
- Cousins Properties Inc
- Cresud Sacifya - Adr
- Crown Castle Intl Corp
- Crown Marketing
- Cubesmart
- Cyrusone Inc
- Dct Industrial Trust Inc
- Ddr Corp
- Diamondrock Hospitality Co
- Digital Realty Trust Inc
- Douglas Emmett Inc
- Duke Realty Corp
- Dupont Fabros Technology Inc
- Easterly Government Pptys
- Eastgroup Properties
- Education Realty Trust Inc
- Elbit Imaging Ltd
- Empire State Realty Op Lp
- Empire State Realty Tr Inc
- Epr Properties
- Equinix Inc
- Equity Commonwealth
- Equity Lifestyle Properties
- Equity One Inc
- Equity Residential
- Essex Property Trust
- Extra Space Storage Inc
- Farmland Partners Inc
- Federal Realty Investment Tr
- Felcor Lodging Trust Inc
- Firm Capital Amer Realty Prt
- First Hartford Corp
- First Indl Realty Trust Inc
- First Potomac Realty Trust
- First Real Estate Inv Tr Nj
- Firstservice Corp
- Forest City Realty Trust Inc
- Forestar Group Inc
- Four Corners Property Tr Inc
- Franklin Street Properties
- Gaming & Leisure Pptys
- Gazit-Globe Ltd
- General Cannabis Corp
- Geo Group Inc
- Getty Realty Corp
- Ggp Inc
- Gladstone Commercial Corp
- Gladstone Land Corp
- Global Healthcare Reit
- Global Medical Reit
- Global Net Lease Inc
- Government Pptys Income Tr
- Gramercy Property Trust
- Granite Real Estate Invest
- Griffin Industrial Realty
- Hcp Inc
- Healthcare Realty Trust Inc
- Healthcare Trust Of America
- Hersha Hospitality Trust
- Hff Inc
- Highwoods Properties Inc
- Homefed Corp
- Hospitality Properties Trust
- Host Hotels & Resorts Inc
- Host Hotels & Resorts Lp
- Howard Hughes Corp
- Hudson Pacific Pptys Inc
- Huntwicke Capital Group Inc
- Income Opportunity Rlty Invs
- Independence Realty Trust
- Infrareit Inc
- Intergroup Corp
- Investors Real Estate Trust
- Invitation Homes Inc
- Iron Mountain Inc
- Irsa Inversiones Y Rep - Gdr
- Irsa Propiedades Cmrcls - Adr
- Kaanapali Land Llc
- Kbs Reit Ii Inc
- Kennedy-Wilson Holdings Inc
- Kilroy Realty Corp
- Kimco Realty Corp
- Kite Realty Group Trust
- Lamar Advertising Co - Cl A
- Lasalle Hotel Properties
- Lexington Realty Trust
- Liberty Property Trust
- Life Storage Inc
- Ltc Properties Inc
- Macerich Co
- Mack-Cali Realty Corp
- Marcus & Millichap Inc
- Maui Land & Pineapple Co
- Mays (J.W.) Inc
- Medical Properties Trust
- Mgm Growth Properties Llc
- Mid-America Apt Cmntys Inc
- Miller Industries Inc
- Monmouth Re Investment Cp
- Monogram Residential Trust
- Nam Tai Property Inc
- National Health Investors
- National Retail Properties
- National Storage Affiliates
- New Senior Investment Group
- New York Reit Inc
- Nexpoint Residential Tr Inc
- Northstar Realty Europe Corp
- Northstar Realty Finance Cp
- Omega Healthcare Invs Inc
- One Liberty Properties Inc
- Optibase Ltd
- Outfront Media Inc
- Pacific Office Properties Tr
- Paramount Group Inc
- Park Hotels & Resorts
- Parkway Inc
- Pebblebrook Hotel Trust
- Pennsylvania Re Invs Trust
- Physicians Realty Tr
- Piedmont Office Realty Trust
- Potlatch Corp
- Preferred Apartment Cmntys
- Presidential Rlty New - Cl B
- Prime Acquisition Corp
- Prime Global Capital Group
- Progreen Us Inc
- Prologis Inc
- Ps Business Parks
- Public Storage
- Pure Multi-Family Reit Lp
- Qts Realty Trust Inc
- Quality Care Properties Inc
- Rait Financial Trust
- Ramco-Gershenson Properties
- Rayonier Inc
- Realbiz Media Group Inc
- Realogy Holdings Corp
- Realty Income Corp
- Regency Centers Corp
- Retail Opportunity Invts Cp
- Retail Pptys Of America Inc
- Reven Housing Reit Inc
- Rexford Indus Realty
- Rlj Lodging Trust
- Rmr Group Inc
- Ryman Hospitality Pptys Inc
- Sabra Health Care Reit Inc
- Saul Centers Inc
- Sba Communications Corp
- Select Income Reit
- Senior Housing Pptys Trust
- Seritage Growth Properties
- Silver Bay Realty Trust Corp
- Simon Property Group Inc
- Sl Green Realty Corp
- Sotherly Hotels Inc
- Spirit Realty Capital Inc
- Stag Industrial Inc
- Store Capital Corp
- Stratus Properties Inc
- Summit Hotel Properties Inc
- Sun Communities Inc
- Sunstone Hotel Investors Inc
- Tanger Factory Outlet Ctrs
- Taubman Centers Inc
- Tejon Ranch Co
- Terreno Realty Corp
- Tier Reit Inc
- Trinity Place Holdings Inc
- Turnkey Capital Inc
- Udr Inc
- Umh Properties Inc
- Uniti Group Inc
- Universal Health Rlty Income
- Urban Edge Properties
- Urstadt Biddle Properties
- Ventas Inc
- Vereit Inc
- W P Carey Inc
- Washington Prime Group Inc
- Washington Reit
- Weingarten Realty Invst
- Welltower Inc
- Weyerhaeuser Co
- Wheeler Real Estate Invt Tr
- Whitestone Reit
- Wpt Industrial Reit
- Xenia Hotels & Resorts Inc
- Xinyuan Real Estate Co - Adr
Methodology
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