Tiaa Real Estate Account's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Tiaa Real Estate Account (TCFPI) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Tiaa Real Estate Account vs Its Competitors
- TTM: Trailing 12-month revenue of 1,233M vs 38,794M combined for tracked competitors (3.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+2.0% annualized vs trailing 12 months), vs holding steady (+1.0%) for its tracked peer group.
- Growth: Tiaa Real Estate Account generated -0.1% revenue growth year over year in Q2 2026, vs 5.2% for its tracked competitors combined.
- Profitability: Its 106.5% net margin compares with 25.4% for the peer group.
- Peer revenue share: Tiaa Real Estate Account accounted for 3.1% of combined revenue among its tracked peer group, down from 3.3% a year earlier.
- Peer differentiation: Revenue per employee of $6.26M compares with $1.39M for the peer group (4.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TCFPI Sales vs. its Competitors, Q2 2026
Tiaa Real Estate Account reported revenue contraction of 0.13 % year on year in Q2 2026, below its competitors' combined revenue growth of 5.20 %.
With a net margin of 106.52 %, Tiaa Real Estate Account achieved higher profitability than its competitors (25.40 %).
Tiaa Real Estate Account generated 3.11 % of the combined sales of its peer group, down from 3.27 % a year earlier.
Tiaa Real Estate Account vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Tiaa Real Estate Account and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Tiaa Real Estate Account | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Tiaa Real Estate Account's competitor groups requires a Commercial License.
For context: the Real Estate Operations industry grew revenue 10.9% year over year, combined, vs -0.1% for Tiaa Real Estate Account. Tiaa Real Estate Account's share of combined industry revenue moved from 0.34% to 0.30%, a loss of 0.03 percentage points.
Tiaa Real Estate Account's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Tiaa Real Estate Account | Yes | No | No | No |
| Competitors combined (10) | ||||
| High-Confidence Competitors (1) | - |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TCFPI Stock Performance relative to its Competitors
TCFPI Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Equinix Inc | 282.9% | Outperformed |
| 2 | Prologis Inc | 282.9% | Outperformed |
| 3 | Simon Property Group inc | 282.9% | Outperformed |
| 4 | Digital Realty Trust Inc | 282.9% | Outperformed |
| 5 | Public Storage | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Tiaa Real Estate Account's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Tiaa Real Estate Account
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Tiaa Real Estate Account | - | 1,233.40 |
| Prologis Inc | 126,819.38 | 8,948.19 |
| Equinix Inc | 100,233.44 | 9,663.00 |
| American Tower Corporation | 78,332.52 | 10,941.50 |
| Simon Property Group inc | 66,464.36 | 6,648.59 |
| Digital Realty Trust Inc | 62,589.54 | 6,340.23 |
| SUBTOTAL | 581,695.80 | 63,771.94 |
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Sources: Tiaa Real Estate Account's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Tiaa Real Estate Account versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Tiaa Real Estate Account's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Aegon Ltd | Named by the company | 85% |
| Voya Financial Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Tiaa Real Estate Account's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Tiaa Real Estate Account's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Prologis Inc | Real Estate Operations Segment 93.26 % |
| Equinix Inc | Americas 50.38 % |
| American Tower Corporation | Property 96.21 % |
| Public Storage | Self Storage Operations 92.46 % |
| Vornado Realty Trust | New York 82.22 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Tiaa Real Estate Account's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Tiaa Real Estate Account | - | 6,260,914 | 4,836,548 |
| Prologis Inc | 126,819 | 3,193,499 | 1,417,057 |
| Equinix Inc | 100,233 | 704,506 | 111,549 |
| American Tower Corporation | 78,333 | 2,248,561 | 722,441 |
| Simon Property Group inc | 66,464 | 1,846,829 | 1,515,221 |
| Digital Realty Trust Inc | 62,590 | 1,730,412 | 377,067 |
| PEERS TOTAL | 581,696 | 1,385,190 | 485,801 |
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Tiaa Real Estate Account's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Digital Realty Trust Inc | US 52.29 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Tiaa Real Estate Account's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Real Estate Operations industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (71 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 52.77 % (avg) | - |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 55.06 % | 16.25 % (avg) | +38.8 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 17.17 % (avg) | -17.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Tiaa Real Estate Account's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 5.01 % | 2.23 % | 1.87 % | 8.07 % | 0.18 % | 9.36 % | -0.60 % | -8.00 % |
| Operating Margin | 84.27 % | 7.53 % | 83.02 % | 82.46 % | 82.58 % | 37.23 % | 39.19 % | 41.52 % |
| Return on Invested Capital | 4.65 % | 0.41 % | 4.55 % | 5.27 % | 5.20 % | 14.34 % | 1.11 % | 1.23 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Tiaa Real Estate Account's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 17.17 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Tiaa Real Estate Account's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Tiaa Real Estate Account's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Tiaa Real Estate Account's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Tiaa Real Estate Account falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Tiaa Real Estate Account's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+2.0% annualized vs trailing 12 months).
Weaknesses
No rule matched.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Tiaa Real Estate Account's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Tiaa Real Estate Account | 0.28 | 71.43 | 0.06 |
| Prologis Inc | 0.60 | 0.60 | 0.61 |
| Equinix Inc | 0.40 | 1.29 | 0.37 |
| American Tower Corporation | 0.22 | 0.38 | 4.48 |
| Simon Property Group inc | 481.01 | 876.45 | 5.95 |
| Digital Realty Trust Inc | 1.31 | 1.92 | 0.07 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Tiaa Real Estate Account's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Tiaa Real Estate Account | Q2 2026 | -0.1 % | +81.9 % |
| Prologis Inc | Q1 2026 | +7.4 % | +63.4 % |
| Equinix Inc | Q2 2026 | +10.1 % | +30.0 % |
| American Tower Corporation | Q2 2026 | +4.7 % | +133.2 % |
| Simon Property Group inc | Q1 2026 | +19.3 % | +19.0 % |
| Digital Realty Trust Inc | Q1 2026 | +16.2 % | +64.3 % |
| PEERS TOTAL | +7.6 % | +35.9 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Tiaa Real Estate Account's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Tiaa Real Estate Account | Q2 2026 | - | - |
| Prologis Inc | Q1 2026 | -83.2 % | -36.5 % |
| Equinix Inc | Q2 2026 | +13.5 % | +56.8 % |
| American Tower Corporation | Q2 2026 | +10.5 % | +5.4 % |
| Simon Property Group inc | Q1 2026 | +24.8 % | -9.5 % |
| Digital Realty Trust Inc | Q1 2026 | - | +10.5 % |
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Tiaa Real Estate Account's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Tiaa Real Estate Account | 3.72% | 3.75% | 4.18% |
| Prologis Inc | 4.04% | 2.58% | 6.90% |
| Equinix Inc | 3.82% | 4.23% | 10.74% |
| American Tower Corporation | 5.54% | 5.04% | 33.86% |
| Simon Property Group inc | 14.83% | 12.17% | 120.40% |
| Digital Realty Trust Inc | 2.82% | 1.95% | 5.88% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Tiaa Real Estate Account's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Tiaa Real Estate Account | - | - |
| Prologis Inc | 33.61 | 14.17 |
| Equinix Inc | 65.06 | 10.37 |
| American Tower Corporation | 23.11 | 7.16 |
| Simon Property Group inc | 14.22 | 10.00 |
| Digital Realty Trust Inc | 44.41 | 9.87 |
| PEERS AVERAGE | 25.42 | 9.12 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.