REITs dominated FORTUNE magazine’s 2013 edition of its annual list of the world’s “Most Admired Real Estate Companies.”
Boston Properties (NYSE: BXP) and health care REIT Ventas Inc. (NYSE: VTR) made the list for the first time. FORTUNE ranked Ventas fourth overall and Boston Properties fifth.
“For more than a dozen years we have focused on sustaining excellence in all aspects of our business and delivering consistent, superior total shareholder return,” said Debra Cafaro, chairman and CEO of Ventas. “Our successful performance results from our cohesive, collaborative teamwork and our commitment to building value.”
Regional mall REIT Simon Property Group (NYSE: SPG), the largest commercial real estate company in the world, finished number one in FORTUNE’s rankings for the third time in five years. Simon earned the top spot in 2009 and 2011.
“We are very gratified by this recognition and it is the result of another outstanding effort of all our employees,” said David Simon, chairman and CEO of Simon Property Group.
Lodging REIT Host Hotels & Resorts Inc. (NYSE: HST) placed second on the list this year, moving up from third place in 2012’s survey, while, another first timer to the list, finished fifth. Third place went to commercial real estate services firm CBRE Group Inc.
Now in its 15th year, the annual “Most Admired Companies” survey is conducted by FORTUNE and the Hay Group, a global management consulting firm.
To determine the awards, reputation and performance are measured against the following nine attributes: ability to attract and retain talented people; quality of management; social responsibility to the community and the environment; innovativeness; quality of products or services; wise use of corporate assets; financial soundness; long-term investment value; and effectiveness in doing business globally.