2023 Multifamily REIT Trading Trends
The latest update on REIT performance from S&P Global Market Intelligence.
MEDIAN U.S. EQUITY REIT PREMIUM TO NAV BY SECTOR
As of Aug. 1, 2023.
Source: S&P Global Market Intelligence
As of August 1, 2023, publicly listed U.S. equity REITs traded at the median discount to consensus NAV per share estimate of 18.75 percent.
The Multifamily sector traded at the least median discount to NAV estimate, at 16.52 percent. The self storage sector was next in line, trading at a median discount to NAV estimate of 16.10 percent.
The Health Care sector ranked last, trading at median premium to NAV of 1.46 percent.
Among the Manufactured homes REIT sector, Equity LifeStyle Properties, Inc. traded at the lowest discount to NAV estimate, at -1.77 percent. Right behind were Sun Communities, Inc. and UMH Properties, Inc. trading at discount to NAV estimates of 14.55 percent and 21.58 percent, respectively.
— Jerra Joy Agravio is an Associate 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: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on Aug. 31, 2023
MEDIAN U.S. EQUITY REIT PREMIUM TO NAV BY SECTOR
As of Jun. 29, 2023.
Source: S&P Global Market Intelligence
As of June 29, 2023, publicly listed U.S. equity REITs traded at the median discount to consensus NAV per share estimate of 21.14 percent.
The Multifamily sector traded at the least median discount to NAV estimate, at 19.49 percent. The Manufactured homes sector was next in line, trading at a median discount to NAV estimate of 15.78 percent.
The Health Care sector ranked last, trading at median discount to NAV of 11.48 percent.
Among the Manufactured homes REIT sector, Equity LifeStyle Properties, Inc. traded at the lowest discount to NAV estimate, at -2.58 percent. Right behind were Sun Communities, Inc., and UMH Properties, Inc. Incorporated trading at discount to NAV estimates of 15.78 percent and 23.45 percent, respectively.
The U.S. multifamily REIT sector traded at a median discount to consensus net asset value of 19.49 percent as of June 29, 2023.
Trading at the greatest discount to NAV among Multifamily REITs was BRT Apartments Corp. at 49.04 percent. NexPoint Residential Trust, Inc. followed, trading at 33.35 percent discount to consensus NAV.
— Saima Yasmin is an Associate 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: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on Jul. 24, 2023
MEDIAN U.S. EQUITY REIT PREMIUM TO NAV BY SECTOR
As of Feb. 2, 2023.
Source: S&P Global Market Intelligence
As of February 2, 2023, publicly listed U.S. equity REITs traded at the median discount to consensus NAV per share estimate of -12.14 percent.
The Manufactured homes sector traded at the least median discount to NAV estimate, at -4.18 percent. The Self-storage sector was next in line, trading at a median discount to NAV estimate of -15.75 percent.
The self storage sector ranked last, trading at median discount to NAV of -21.30 percent.
Among the Manufactured homes REIT sector, Equity LifeStyle Properties, Inc. traded at the largest premium to NAV estimate, at 8.44 percent. Right behind were Sun Communities, Inc., and UMH Properties, Inc. Incorporated trading at premiums to NAV estimates of 2.34 percent and -10.71 percent, respectively.
The U.S. multifamily REIT sector traded at a median discount to consensus net asset value of -13.10 percent as of February 2, 2023.
Trading at the greatest discount to NAV among Multifamily REITs was Flagship Communities Real Estate Investment Trust at -31.77 percent. UMH Properties, Inc. followed, trading at -10.71 percent discount to consensus NAV.
Jerra Joy Agravio is an Associate 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: https://www.spglobal.com/marketintelligence/en/campaigns/real-estate
—Posted on Feb. 28, 2023
