Median Salaries At Some Of Real Estate’s Public Companies
Some of the highest median salaries among public companies are in real estate. Take Chesapeake Lodging Trust, which owns 21 hotels in eight states and D.C., and has only 14 employees. The firm's median pay is $347,750/year.
Capstead Mortgage, which invests in residential adjustable-rate mortgage pass-through securities, has 13 employees and pays a median salary of $300K/year.
The somewhat larger Medical Properties Trust — in terms of employee headcount, with 66 — owns 275 healthcare properties with more than 32,000 beds and pays a median of $241,709/year.
Those three are at the top end of pay in the public real estate sector. One of the mandates of the Dodd-Frank Act that remains intact is the requirement that publicly traded companies divulge their median employee pay in addition to CEO pay, the better for shareholders and the public to compare the two. That provision came into force this year, and the data has been trickling out since.
Various websites have tabulated the results, such as the Wall Street Journal, Bloomberg and PayScale, mostly focusing on the wide gap between CEO and median pay, which is the pay amount in the middle of the list when salaries are listed from highest to lowest.
The data also reveals who is paying the highest and lowest median salaries, though sometimes the comparison is imprecise. Some companies tend to hire part-time or seasonal workers, which tends to drive the median down.
Even so, publicly traded real estate companies are well-represented in the higher ranks of median pay. New York Mortgage Trust (19 employees) pays a median of $234,836, LTC Properties (20 employees) pays a median of $212,013 and EPR Properties (63 employees) pays a median $196,220.
Among the larger real estate companies, Digital Realty with 1,436 employees pays a median of $136,843, HFF with 1,009 employees pays a median of $119,516 and Prologis with 1,565 employees pays a median of $94,915.
BlackRock, which has been on a real estate asset buying bender, pays a median of $141,987. The company has 13,900 employees.
Toward the middle, Simon Property (4,150 employees) pays a median of $53,872, Equity Residential (2,700 employees) pays a median of $56,804 and Pennsylvania REIT (297 employees) pays a median of $70,128.
On the low end of the scale, CareTrust REIT (50 employees) pays a median of $19,089, Four Corners Property Trust (342 employees) pays a median of $20,210 and Public Storage (5,600 employees) pays a median of $23,921.
