2024 REIT Returns

Source: S&P Global Market Intelligence

As of July 7, 2024, publicly listed U.S. equity REITs traded at a median discount to consensus net asset value per share estimate of 16.32 percent.

The Industrial sector traded at the greatest median discount to NAV estimate, at 15.79 percent.

At the other end of the scale, the office sector traded at a discount of 16.00 percent, currently the greatest median discount to NAV estimate.

At the company level, Welltower Inc. traded at the largest premium to NAV estimate, at 59.47 percent. This was followed by Iron Mountain Inc. and CareTrust REIT Inc. trading at premiums/discounts to NAV estimates of 46.78 percent and 41.16 percent, respectively.

Industrial Logistics Properties Trust traded at the largest discount to NAV estimate of all U.S. REITs, at 73.30 percent. At the bottom of the list are Office REIT, Orion Office REIT and Sotherly Hotels Inc. with large discounts to NAV estimates of 71.44 percent and 67.91 percent, respectively.

– Jerra Joy Agravio is an Associate in the Real Estate Client Operations Department of S&P Global Market Intelligence.

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—Posted on July 29, 2024

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