Equity REITs continue to see a fall in valuations during October - report

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Equity REITs continued to see a decline in their price-to-net asset value valuations during the month of October, according to [https://www.capitaliq.com/CIQDotNet/News/Article.aspx?articleId=322716835&listobjectid=2668699&fromPageId=1640&source=966] data by S&P Global Market Intelligence.

The sector is said to have seen its median discount to consensus net asset value per share estimates widen to 21.3% at the end of October, compared to a 17.2% discount to NAV at September-end and 15.1% at August-end.

The analysis takes into consideration equity REITs that trade on the Nasdaq, NYSE, or NYSE American with at least $200M in market capitalization.

Listed below are the REITs that closed October at a significant discount to NAV:

* Brandywine Realty Trust (BDN [https://seekingalpha.com/symbol/BDN]) - 57.4% discount to consensus NAV estimate of $8.06
* Service Properties Trust (SVC [https://seekingalpha.com/symbol/SVC]) - 54.9% discount to consensus NAV estimate of $4.75
* Industrial Logistics Properties Trust (ILPT [https://seekingalpha.com/symbol/ILPT]) - 52.9% discount to consensus NAV estimate of $11.22
* Park Hotels & Resorts (PK [https://seekingalpha.com/symbol/PK]) - 50.4% discount to consensus NAV estimate of $20.73
* Peakstone Realty Trust (PKST [https://seekingalpha.com/symbol/PKST]) - 47.8% discount to consensus NAV estimate of $25.89
* Alexandria Real Estate Equities (ARE [https://seekingalpha.com/symbol/ARE]) - 46.7% discount to consensus NAV estimate of $109.25
* RLJ Lodging Trust (RLJ [https://seekingalpha.com/symbol/RLJ]) - 46.4% discount to consensus NAV estimate of $12.68
* Armada Hoffler Properties (AHH [https://seekingalpha.com/symbol/AHH]) - 43.8% discount to consensus NAV estimate of $11.65
* BRT Apartments (BRT [https://seekingalpha.com/symbol/BRT]) - 43.4% discount to consensus NAV estimate of $26.01
* Pebblebrook Hotel Trust (PEB [https://seekingalpha.com/symbol/PEB]) - 43.3% discount to consensus NAV estimate of $18.44

Meanwhile, below are the REITs that closed October at a significant premium to NAV:

* Welltower (WELL [https://seekingalpha.com/symbol/WELL]) - 109.0% premium to consensus NAV estimate of $86.63
* American Healthcare REIT (AHR [https://seekingalpha.com/symbol/AHR]) - 73.4% premium to consensus NAV estimate of $26.13
* Medical Properties Trust (MPW [https://seekingalpha.com/symbol/MPW]) - 60.8% premium to consensus NAV estimate of $3.22
* Crown Castle (CCI [https://seekingalpha.com/symbol/CCI]) - 56.1% premium to consensus NAV estimate of $57.80
* CareTrust REIT (CTRE [https://seekingalpha.com/symbol/CTRE]) - 47.7% premium to consensus NAV estimate of $23.46
* Ventas (VTR [https://seekingalpha.com/symbol/VTR]) - 38.0% premium to consensus NAV estimate of $53.47
* Omega Healthcare Investors (OHI [https://seekingalpha.com/symbol/OHI]) - 34.4% premium to consensus NAV estimate of $31.27
* National Health Investors (NHI [https://seekingalpha.com/symbol/NHI]) - 33.6% premium to consensus NAV estimate of $55.75
* Iron Mountain (IRM [https://seekingalpha.com/symbol/IRM]) - 22.3% premium to consensus NAV estimate of $84.20
* Sabra Health Care REIT (SBRA [https://seekingalpha.com/symbol/SBRA]) - 21.6% premium to consensus NAV estimate of $14.66

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