(PLD - Get Report)
ProLogis, with $16 billion in market value, owns and manages nearly 600 million square feet of industrial space internationally, which it leases to a wide range of corporate customers. About half of its properties are held in joint ventures, with institutional clients.
Its shares are up 18% this year and have a three-year average annual return of 52%. S&P has it rated "hold," on valuation concerns. Analysts give them four "buy" ratings, three "buy/holds," 11 "holds," and one "weak hold," according to a survey of analysts by S&P.
Health Care REIT
Health Care REIT, with a market value of $11 billion, has a geographically dispersed portfolio of properties, including senior housing, skilled nursing, medical office, and hospital facilities.
Its shares are up 1.6% this year and have a three-year average annual return of 30%. S&P has it rated "buy," with a $61 price target, an 11% premium.
Health Care REIT reported last week that it recently completed its secondary offering of 20.7 million common shares at $53.50 each, and raised approximately $1.1 billion which it will sue repay debt, and for other purposes.
Through a steady string of acquisitions, the company is seen as positioning itself to take advantage of the long-term prospect of increasing demand from an aging population. Analysts give its shares four "buy" ratings, four "buy/holds," 10 "holds," and one "weak hold," per S&P.
(BXP - Get Report)
Boston Properties, with a market value of $15 billion, is the owner of more than 125 office buildings, 18 office and technical properties, one hotel, two residential properties, and three retail properties.
Its shares are up 2.9% this year and have a three-year average annual return of 48%. S&P has its shares rated "buy," with a $119 price target, a 16% premium.
S&P said it's well-positioned in the market, with a portfolio of urban office properties that are rebounding, as well as $1.8 billion in new projects in the pipeline.
Avalon Bay Communities
Avalon Bay, with a market value of $13 billion, is one of the nation's largest apartment landlords, owning around 47,000 apartments in urban areas such as New York, Boston, Washington, D.C., and San Francisco.
Its shares are up 1.2% this year and have a three-year average annual return of 53%. S&P has its shares rated "buy," with a price target of $150, a 14% premium.
S&P says its presence in coastal markets with some of the strongest job growth will let it raise rents by an average 6% this year. It also has a number of projects in the pipeline, hence Avalon has an "above-average long-term earnings growth profile," S&P said.
American Campus Communities
American Campus Communities, with a market value of $3 billion, owns and manages off- and on-campus college-student housing.
Its shares are down 1.1% this year but have a three-year average annual return of 41%. S&P has its shares "buy" rated, with a $47 price target, a 12.6% premium.
The ratings firm says "we think average rental rates will increase about 3.5% due to strong pre-leasing activity for the 2012-13 academic year. In addition, ACC has 11 wholly owned developments with 1,915 beds scheduled for August 2012 delivery."
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