Here’s a snapshot of their revenue and net income for the first 9 months of the year, ranked by size. I did not track their dividend per share in this post since my preference is to do it annually, which is in the menu bar.

REIT – Revenue – Net income

1. RCR – 3.9B – 3.13B

2. AREIT – 3.6B – 2.4B

3. MREIT – 2.7B – 2.0B

4. DDMPR – 1.82B – 1.54B

5. VREIT – 1.8B – 1.53B

6. FILRT – 2.5B – 1.1B

7. CREIT – 996.8M – 906.5M

Congratulations to Robinsons RCR for being the largest REIT in terms of revenue and net income. However, the rumored entry of SM Prime in the REIT arena along with the aggressive asset infusion pipeline from AREIT and MREIT, RCR’s place at the top is far from guaranteed.

I find it interesting that FILRT had a net income of 1.1B, which is lower than both DDMPR and VREIT, even if it actually recorded a higher revenue than both. The last 2 quarterly dividends from FILRT have also dropped – a red flag for me. On the upside, management is trying to diversify away from office leasing by infusing a 2.9 hectare Boracay tourism property leased to Crimson Resort and Spa. We’ll see if that turns things around for FILRT.

While revenue and income are important metrics, what I’m most interested in is how fast these REITs are growing. Over the succeeding years, which ones are able to rapidly and consistently grow their revenue, income, leasable area, and most importantly – dividends.