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Trailing the marketUnderperformers#63 of 115 by 1M spread

Global Real Estate Stocks

Top 10 of 279 DFGR holdings, updated

As of 12 October 2026, global real estate stocks are trailing the S&P 500, over the past month and over the longer run. DFGR trails the S&P 500 by 5.0 points over one month and ranks #63 of 115 groups Zensei tracks. 40 of the 88 global real estate stocks Zensei prices in DFGR beat the fund this month.

Prices as of Last update : First tracked: trailing the market
Beat the fund (1M)
40 of 88
Beat the S&P 500 (1M)
14 of 88
Strongest (1M)
ESRT +11.7%
Weakest (1M)
UNIT −31.9%

Where global real estate stocks stand now

As of 12 October 2026, Real Estate (DFGR) ranks #63 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 5.0 points behind over the past month and 5.1 points behind over the longer, time-shifted window. That is the Underperformers quadrant.

On the shorter tape, DFGR's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. DFGR's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.

The exposure comes via Dimensional Global Real Estate ETF, whose 279 tracked holdings are led by Welltower Inc, Prologis Inc and Equinix Inc. Weighted by portfolio, the fund's holdings trade at roughly 32.0× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.

1M spread vs SPY
−5.0 pts
Quadrant
Underperformers
Momentum
Weakening
RS health
Broken

Top global real estate stocks right now

The largest global real estate stocks by weight in DFGR, and the strongest over the past month. Size and recent return are measurements, not recommendations.

Largest by fund weight

Share of DFGR

  1. 1Welltower IncWELL9.0%
  2. 2Prologis IncPLD6.7%
  3. 3Equinix IncEQIX5.4%
  4. 4American Tower CorpAMT4.0%
  5. 5Digital Realty Trust IncDLR3.5%

Strongest this month

1-month return, holdings Zensei prices

  1. 1Empire State Realty Trust IncESRT+11.7%
  2. 2Summit Hotel Properties IncINN+10.6%
  3. 3Crown Castle IncCCI+8.7%
  4. 4Pebblebrook Hotel TrustPEB+7.7%
  5. 5Chatham Lodging TrustCLDT+7.0%

Global Real Estate Stocks vs the S&P 500

Over the week to 12 October 2026, DFGR rose 2.0% while the S&P 500 rose 0.4%. DFGR and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means DFGR won that window.

Window
DFGR
SPY
Spread
1 week+2.0%+0.4%+1.6 pts
2 weeks+0.0%+0.9%−0.9 pts
1 month−3.0%+2.1%−5.0 pts
3 months−6.0%+4.1%−10.1 pts
6 months−2.2%+12.6%−14.8 pts
1 year+7.2%+20.4%−13.2 pts

Prices as of · computed from daily adjusted closes · how we measure

Real Estate on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.

Are global real estate stocks expensive?

Fund P/E
32.0×

The price-to-earnings ratio of DFGR as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.

DFGR holdings: the global real estate stocks inside

As of 12 October 2026, 40 of the 88 global real estate stocks Zensei prices in DFGR beat the fund over the past month. 14 of them beat the S&P 500. The strongest is Empire State Realty Trust Inc (ESRT); the weakest is Uniti Group Inc (UNIT). Inside the fund, most holdings move the same way.

#HoldingWeight1M3Mvs fund 1MMomentumRS health
1
WELLWelltower Inc
9.0%−2.3%−1.5%+0.7 ptsWeakStrong
2
PLDPrologis Inc
6.7%−1.6%−6.1%+1.3 ptsWeakStrong
3
EQIXEquinix Inc
5.4%−0.5%−0.2%+2.5 ptsPulling backHolding
4
AMTAmerican Tower Corp
4.0%+3.8%+8.9%
5
DLRDigital Realty Trust Inc
3.5%−3.8%+1.9%
6
SPGSimon Property Group Inc
3.5%−1.7%−7.2%
7
ORealty Income Corp
2.8%−7.6%−13.6%
8
PSAPublic Storage
2.6%−1.6%−9.3%
9
VMRKVivmark Residential
2.4%−5.5%−11.1%
10
VTRVentas Inc
2.4%−6.6%−8.7%
See all 279 holdings, each compared with the fund, with momentum and relative strengthUnlock with Premium

All 279 DFGR holdings by weight: Welltower Inc (WELL) 9.0%, Prologis Inc (PLD) 6.7%, Equinix Inc (EQIX) 5.4%, American Tower Corp (AMT) 4.0%, Digital Realty Trust Inc (DLR) 3.5%, Simon Property Group Inc (SPG) 3.5%, Realty Income Corp (O) 2.8%, Public Storage (PSA) 2.6%, Vivmark Residential (VMRK) 2.4%, Ventas Inc (VTR) 2.4%, Goodman Group 2.2%, Iron Mountain Inc (IRM) 1.8%, Extra Space Storage Inc (EXR) 1.5%, Vici Properties Inc (VICI) 1.4%, Crown Castle Inc (CCI) 1.2%, Segro PLC 1.1%, Essex Property Trust Inc (ESS) 0.9%, Host Hotels & Resorts Inc (HST) 0.8%, Kimco Realty Corp (KIM) 0.8%, W.P. Carey Inc (WPC) 0.8%, Gpt Group 0.4%, Tritax Big Box 0.4%, Charter Hall Group 0.4%, Nippon Building Fund Inc 0.4%, Merlin Properties Socimi SA 0.3%, Macerich Co (MAC) 0.3%, Healthcare Realty Trust Inc (HR) 0.3%, Essential Properties Realty Trust Inc (EPRT) 0.3%, Mirvac Group 0.3%, Vornado Realty Trust (VNO) 0.3%, Kite Realty Group Trust (KRG) 0.3%, Japan Metropolitan Fund Investment Corp 0.3%, Sabra Health Care REIT Inc (SBRA) 0.3%, Japan Real Estate Investment Corp 0.3%, Warehouses de Pauw SA 0.3%, Cousins Properties Inc (CUZ) 0.3%, n/a (PECO) 0.3%, Dexus 0.3%, Outfront Media Inc (OUT) 0.2%, Epr Properties (EPR) 0.2%, Primary Health Properties PLC 0.2%, Glp J-Reit 0.2%, Tanger Inc (SKT) 0.2%, Kdx Realty Investment Corp 0.2%, Embassy Office Parks REIT 0.2%, Nomura Real Estate Master Fund Inc 0.2%, Copt Defense Properties (CDP) 0.2%, Broadstone Net Lease Inc (BNL) 0.2%, Kilroy Realty Corp (KRC) 0.2%, Nippon Prologis REIT Inc 0.2%, Apple Hospitality REIT Inc (APLE) 0.2%, Keppel Dc REIT 0.2%, Americold Realty Trust Inc (COLD) 0.2%, Shaftesbury Capital PLC 0.2%, Growthpoint Properties Ltd 0.2%, Gecina Nom 0.2%, Sl Green Realty Corp (SLG) 0.2%, Japan Hotel REIT Investment Corp 0.2%, Derwent London PLC 0.2%, Independence Realty Trust Inc (IRT) 0.2%, Daiwa House REIT Investment Corp 0.2%, Orix Jreit Inc 0.2%, Highwoods Properties Inc (HIW) 0.2%, National Health Investors Inc (NHI) 0.2%, Mapletree Logistics Trust 0.2%, Invincible Investment Corp 0.2%, Hammerson PLC 0.2%, Park Hotels & Resorts Inc (PK) 0.2%, United Urban Investment Corp 0.2%, Covivio SA 0.1%, Curbline Properties Corp (CURB) 0.1%, Advance Residence Investment Corp 0.1%, Acadia Realty Trust (AKR) 0.1%, Diamondrock Hospitality Co (DRH) 0.1%, Lineage Inc REIT (LINE) 0.1%, Four Corners Property Trust Inc (FCPT) 0.1%, Inventrust Properties Corp (IVT) 0.1%, Redefine Properties Ltd 0.1%, Mitsui Fudosan Logistics Park Inc 0.1%, Keppel REIT 0.1%, Urban Edge Properties (UE) 0.1%, Vukile Property Fund Ltd 0.1%, Pebblebrook Hotel Trust (PEB) 0.1%, Ltc Properties Inc (LTC) 0.1%, Frasers Centrepoint Trust 0.1%, Riocan Real Estate Investment Trust 0.1%, Japan Prime Realty Investment Corp 0.1%, Sunstone Hotel Investors Inc (SHO) 0.1%, Sekisui House REIT Inc 0.1%, Big Yellow Group PLC 0.1%, Frasers Logistics & Commercial Trust 0.1%, Region Group 0.1%, First Capital REIT 0.1%, Mitsui Fudosan Accommodations Fund Inc 0.1%, Suntec Real Estate Investment Trust 0.1%, Capitaland Ascott Trust Stapled Units 0.1%, Hyprop Investments Ltd 0.1%, Granite Real Estate Inves 0.1%, Getty Realty Corp (GTY) 0.1%, Global Net Lease Inc (GNL) 0.1%, Netstreit Corp (NTST) 0.1%, Xenia Hotels & Resorts Inc (XHR) 0.1%, Unite Group PLC 0.1%, Smartcentres Real Estate 0.1%, Activia Properties Inc 0.1%, Lasalle Logiport REIT 0.1%, Japan Logistics Fund Inc 0.1%, Medical Properties Trust Inc (MPT) 0.1%, n/a (RLJ) 0.1%, Resilient REIT Ltd 0.1%, Ingenia Communities Group 0.1%, Douglas Emmett Inc (DEI) 0.1%, Montea NV 0.1%, Diversified Healthcare Trust (DHC) 0.1%, Innovative Industrial Properties Inc (IIPR) 0.1%, Eurocommercial Properties NV 0.1%, Charter Hall Retail REIT 0.1%, Brookfield India Real Estate Trust 0.1%, Aeon REIT Investment Corp 0.1%, Centuria Industrial REIT 0.1%, Igb Real Estate Investment Trust 0.1%, Mindspace Business Parks REIT Unit 0.1%, Umh Properties Inc (UMH) 0.1%, Lendlease Global Commercial REIT 0.1%, Hulic REIT Inc 0.1%, Comforia Residential REIT Inc 0.1%, Homeco Daily Needs REIT Units 0.1%, Waypoint REIT Ltd 0.1%, Heiwa Real Estate REIT Inc 0.1%, Nexus Select Trust Reits 0.1%, Xior Student Housing NV 0.1%, American Assets Trust Inc (AAT) 0.1%, Mercialys SA 0.1%, Esr-Reit 0.1%, Ntt Ud REIT Investment Corp 0.1%, Primaris Real Estate Inve 0.1%, Daiwa Office Investment Corp 0.1%, Carmila SA 0.1%, Mori Hills REIT Investment Corp 0.1%, Daiwa Securities Living Investment Corp 0.1%, Piedmont Realty Trust Inc (PDM) 0.1%, Easterly Government Properties Inc (DEA) 0.1%, Mori Trust REIT Inc 0.1%, Boardwalk Real Estate Investment Trust 0.1%, Nippon REIT Investment Corp 0.1%, Kiwi Property Group Ltd 0.1%, Global One Real Estate Investment Corp 0.1%, Japan Excellent Inc 0.1%, Tokyu REIT Inc 0.1%, Hoshino Resorts REIT Inc 0.1%, Argan 0.1%, Axis Real Estate Investment Trust 0.1%, Irish Residential Properties REIT PLC 0.1%, Sunway Real Estate Investment Trust 0.1%, Cbl & Associates Properties Inc New (CBL) 0.1%, Retail Estates SA 0.1%, Equites Property Fund Ltd 0.1%, Wereldhave NV 0.1%, Star Asia Investment Corp 0.1%, Sk REIT Co Ltd 0.1%, Centuria Capital Group 0.0%, Property For Industry Ltd 0.0%, Attacq Ltd 0.0%, Shurgard Self Storage Ltd 0.0%, Aspen Group Ltd 0.0%, n/a (CTO) 0.0%, Centerspace (CSR) 0.0%, Summit Hotel Properties Inc (INN) 0.0%, Frasers Property Thailand Industrial Fre 0.0%, Pavilion Real Estate Investment Trust 0.0%, Ct Real Estate Investment Trust 0.0%, Fukuoka REIT Corp 0.0%, Fairvest Ltd 0.0%, Klcc Property & Holdings Bhd 0.0%, Vital Infrastructure Property Trust 0.0%, Hankyu Hanshin REIT Inc 0.0%, Ichigo Office REIT Investment Corp 0.0%, Target Healthcare REIT 0.0%, Icade 0.0%, Charter Hall Social Infrastructure REIT 0.0%, Care Property Invest Nv/Sa 0.0%, SA Corporate Real Estate Ltd 0.0%, Uniti Group Inc (UNIT) 0.0%, Shinhan Alpha REIT 0.0%, Esr Kendall Square REIT 0.0%, Hudson Pacific Properties Inc (HPP) 0.0%, Jbg Smith Properties (JBGS) 0.0%, Chatham Lodging Trust (CLDT) 0.0%, Postal Realty Trust Inc (PSTL) 0.0%, Alexander's Inc (ALX) 0.0%, Universal Health Realty Income Trust (UHT) 0.0%, Empire State Realty Trust Inc (ESRT) 0.0%, Champion Real Estate Investment Trust 0.0%, Service Properties Trust (SVC) 0.0%, Gladstone Commercial Corp (GOOD) 0.0%, Sosila Logistics REIT Inc 0.0%, Argosy Property Ltd 0.0%, Mirai Corp 0.0%, Reysas Gayrimenkul Yatirim Ortakligi As 0.0%, Lotte REIT Co Ltd 0.0%, Crombie Real Estate Investment Trust 0.0%, Cre Logistics REIT Inc Unit 0.0%, Areit Inc 0.0%, Vital Healthcare Property Trust 0.0%, Arena REIT 0.0%, Stor-Age Property REIT Ltd 0.0%, Kuyas Yatrim As 0.0%, Digital Core REIT Units 0.0%, Al Rajhi REIT Fund 0.0%, Allied Properties (Hk) Ltd 0.0%, Tera Yatirim Teknoloji Holding As 0.0%, Cromwell Property Group 0.0%, Burstone Group Ltd 0.0%, Sunlight Real Estate Investment Trust 0.0%, Sasseur REIT 0.0%, Industrial Logistics Properties Trust (ILPT) 0.0%, Brandywine Realty Trust (BDN) 0.0%, Chiron Real Estate Inc (XRN) 0.0%, Community Healthcare Trust Inc (CHCT) 0.0%, Saul Centers Inc (BFS) 0.0%, Dexus Industria REIT 0.0%, One REIT Inc 0.0%, Far East Hospitality Trust 0.0%, Growthpoint Properties Australia 0.0%, Altarea Sca 0.0%, Slate Grocery REIT Unit 0.0%, Nexpoint Residential Trust Inc (NXRT) 0.0%, One Liberty Properties Inc (OLP) 0.0%, Jadwa REIT Saudi Fund 0.0%, Hamborner REIT AG 0.0%, Ascencio 0.0%, Central REIT Investment Corp Unit 0.0%, D&d Platform REIT 0.0%, Panora Gayrimenkul Yatirim Ortakligi As 0.0%, Prosperity Real Estate Investment Trust 0.0%, Pro Real Estate Investment Trust 0.0%, Samty Residential Investment Corp 0.0%, Rfa Financial Inc 0.0%, Rl Commercial REIT Inc 0.0%, Cpn Retail Growth Leasehold REIT 0.0%, Yuexiu Real Estate Investment Trust 0.0%, Tosei REIT Investment Corp 0.0%, Nh All-One REIT 0.0%, Abacus Group Stapled (Unit, Ordinary Share) New 0.0%, Koray Gayrimenkul Yatirim Ortakligi As 0.0%, Home Invest Belgium NV 0.0%, Gdi Property Group 0.0%, n/a (PINE) 0.0%, Brt Apartments Corp (BRT) 0.0%, Orion Properties Inc (ONL) 0.0%, Net Lease Office Properties (NLOP) 0.0%, Frontview REIT Inc Reits (FVR) 0.0%, Nsi NV 0.0%, Daiwa House Logistics Trust Units 0.0%, Nexus Industrial REIT 0.0%, Capitaland Malaysia Trust 0.0%, Btb Real Estate Investment Trust 0.0%, Jr Global REIT 0.0%, Kore US REIT Unit 0.0%, Sf Real Estate Investment Trust 0.0%, Sankei Real Estate Inc 0.0%, Healthcare & Medical Investment Corp 0.0%, Ichigo Hotel REIT Investment Corp 0.0%, Ytl Hospitality REIT 0.0%, Akis Gayrimenkul Yatirim Ortakligi As 0.0%, Starts Proceed Investment Corp 0.0%, Schroder Real Estate Invest 0.0%, Prime US REIT Unit 0.0%, Is Gayrimenkul Yatirim Ortakligi As 0.0%, Tokaido REIT Inc 0.0%, Kip Real Estate Investment Trust 0.0%, Koramco Life Infra REIT 0.0%, Vastned NV 0.0%, Escon Japan REIT Investment Corp 0.0%, Marimo Regional Revitalization REIT Inc 0.0%, Morguard Corp 0.0%, Halk Gayrimenkul Yatirim Ortakligi As 0.0%, Centuria Office REIT 0.0%, Mreit Inc 0.0%.

Global Real Estate Stocks: common questions

What are the top 3 global real estate stocks?

As of 12 October 2026, the three largest global real estate stocks in DFGR by fund weight are Welltower Inc (WELL) (9.0%), Prologis Inc (PLD) (6.7%) and Equinix Inc (EQIX) (5.4%). Fund weight shows size inside the fund, not a recommendation.

Which global real estate stocks are beating the sector?

As of 12 October 2026, 40 of the 88 global real estate stocks Zensei prices in DFGR beat the fund over the past month. The strongest over the past month is Empire State Realty Trust Inc (ESRT). The list above shows every holding with its weight and returns.

Are global real estate stocks outperforming the S&P 500?

No. As of 12 October 2026, DFGR trails the S&P 500 by 5.0 points over the past month.

Is it a good time to invest in global real estate stocks?

Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, global real estate stocks are behind the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.

What is DFGR?

DFGR is Dimensional Global Real Estate ETF. Zensei uses it to measure global real estate stocks against the S&P 500 (SPY).

What stocks does DFGR own?

As of 12 October 2026, the largest of the 279 positions Zensei tracks in DFGR are Welltower Inc, Prologis Inc, Equinix Inc, American Tower Corp, Digital Realty Trust Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.

What quadrant is real estate in right now?

As of 12 October 2026, real estate is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.

Recent changes

  1. ·First tracked: trailing the market

Related sectors

Track real estate against the whole market

Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.