Listed Office REITs Selling at Steepest Discount to NAVs
May 5, 2023 | James Sprow | Blue Vault
Every month, the analysts at S&P Capital IQ report on the current publicly traded US equity real estate investment trusts that trade on the Nasdaq, NYSE or NYSE American with market capitalizations of at least $200 million.
Publicly listed US equity real estate investment trusts traded at a median 20.8% discount to their consensus estimates for net asset value (NAV) per share as of May 1, slightly higher than the 20.2% recorded at the end of March.
As of the start of May, the office sector traded at the biggest discount to NAV at 57.9%. The hotel sector traded at the second-biggest median discount as of May 1 at 32.2%. Regional mall REITs traded at the third-largest median discount at 31.7%. Among the property sectors, only the casino sector traded at a median premium to NAV, at 11.6%.
Source: The referenced article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
