2025 REIT Trading Trends
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As of Feb. 5, publicly listed U.S. equity REITs traded at a median discount to consensus NAV per share estimate of 14.30 percent.
The health-care sector traded at a premium to NAV estimate of 13.65 percent while the manufactured homes sector traded at a median discount to NAV estimate of 9.97 percent. Multifamily followed with a discount of 11.92 percent. The self-storage sector ranked last, trading at a median discount to NAV of 13.33 percent.
Among manufactured homes REITs, Equity LifeStyle Properties Inc. traded at the lowest discount to NAV estimate at 6.86 percent. Meanwhile, Sun Communities Inc. and UMH Properties Inc. traded at discounts to NAV estimates of 9.97 percent and 12.91 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
