2025 REIT Trading Trends
The Dow Jones Equity All REIT Index’s latest update on performance from S&P Global Market Intelligence. Read the report.
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 at a 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.
For industrial REITs, Terreno Realty Corp. traded at the largest premium to NAV estimate at 7.45 percent. EastGroup Properties Inc. and Prologis Inc. followed, trading at 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 Logistics Properties Trust and 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 Feb. 27, 2025
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