02/28/2014 | By Sarah Borchersen-Keto
REITs accounted for four of the top five slots in the real estate category in FORTUNE Magazine’s 2014 edition of its annual list of the “World’s Most Admired Real Estate Companies.”
Regional mall REIT Simon Property Group, Inc. (NYSE: SPG), the largest commercial real estate company in the world, ranked number one in Fortune’s rankings of the real estate category for the second year in a row. Simon also held the top spot in 2011 and placed second in 2012.
Industrial real estate REIT Prologis, Inc. (NYSE:PLD) placed third among real estate companies.
“We are honored by this recognition. This achievement is the direct result of the dedication and commitment to enduring excellence by my colleagues around the world,” said Hamid Moghadam, chairman and CEO of Prologis.
Second place in the rankings went to commercial real estate services firm CBRE Group Inc.
Conducted by FORTUNE and global management consulting firm Hay Group, the study surveys top executives, directors and financial analysts to identify companies that enjoy the strongest reputations within their industries and across industries.
Companies are ranked across nine key facets of reputation that include the ability to attract and retain talented staff, quality of management, social responsibility to the community and environment, and innovativeness. Other factors taken into consideration include the quality of products or services, use of corporate assets, financial soundness, long-term investment value, and effectiveness in doing business globally.