Marc Holliday got a 118 percent raise last year

U.S. real estate investment trusts paid out a whopping $192.3 million to the top 20 highest-paid CEOs in the industry last year, for an average of $9.6 million per executive, according to SNL Financial. That’s up from $104.7 million, or $5.2 million per CEO, in 2009.

While it’s true that REITs did well last year, CEO compensation far outpaced their companies’ performance — across the REIT sector, shareholders saw a return of 28.9 percent; the top 20 highest-paid REIT CEOs saw an average 83.6 percent pay increase.

Marc Holliday, CEO of SL Green Realty Trust, took home $24.8 million last year, making him the highest-paid REIT executive in the country and marking a 117.6 percent increase over his compensation during the year prior.

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Holliday didn’t get the largest raise, though. That award went to David Simon, chairman and CEO of shopping mall REIT Simon Property Group, who took home a total of $24.6 million in 2010, up 430 percent over the $4.6 million he made in 2009. Simon’s earnings came in the form of a $4 million bonus and $19.5 million in stock and options.

The numbers drop off substantially from there, though the rest of the CEOs are not exactly paupers. Third-highest-paid CEO Mike Fascitelli, of Vornado Realty Trust, got a 90 percent raise last year, taking home $9.94 million in total compensation. [SNL Financial]