As of Feb. 5, publicly listed U.S. equity REITs traded at a median discount to consensus net asset value per share estimate of 14.30 percent.
The Industrial sector traded 22.86 percent discount to NAV estimate, while the office sector traded at a discount of 25.52 percent, currently the greatest median discount to NAV estimate.
At the Industrial REIT level, Terreno Realty Corporation traded at the largest premium to NAV estimate, at 7.45 percent. This was followed EastGroup Properties, Inc. and Prologis, Inc. trading at premiums/discounts to NAV estimates of -0.92 percent and -3.24 percent, respectively.
Welltower Inc. traded at the largest premium to NAV estimate of all U.S. REITs, at 99.14 percent. At the bottom of the list are Industrial REIT, Industrial Logistics Properties Trust and Office REIT, Hudson Pacific Properties, Inc. with large discount to NAV estimates of 68.3 percent and 69.03 percent respectively.
Iman Niazi is an Assistant Manager in the Real Estate Client Operations Department of S&P Global Market Intelligence. If you are interested to learn more about the products and services available within S&P Global Real Estate data, please visit us here.
—Posted on February 27, 2025
