Educational use only — not investment advice. "Undervalued / fairly valued / overvalued" and every risk score reflect our models vs. price, which can be wrong or based on stale or incomplete data. Always review the company's own financials and SEC filings, and consult a licensed advisor, before acting.
AEI
Valuation N/A
Alset Inc.
Price$0.69
Model IV—
P/IV—
Market implies +14.3%/yr
AHRT
Deeply undervalued
AH Realty Trust, Inc.
Price$6.05
Model IV$10.21
P/IV0.61
Discount 41%
Return to IV: +68.8%
Market implies -4.7%/yr
vs model +4.0% · below model
AIRE
Valuation N/A
reAlpha Tech Corp.
Price$1.05
Model IV—
P/IV—
Market implies +30.5%/yr
AOMD
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$24.50
Model IV—
P/IV—
Limited data — see page
AOMN
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$24.89
Model IV—
P/IV—
Limited data — see page
AOMR
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$7.27
Model IV—
P/IV—
Limited data — see page
AOXY
Undervalued
ADVANCED OXYGEN TECHNOLOGIES INC
Price$0.12
Model IV$0.16
P/IV0.48
Discount 27%
Return to IV: +37.0%
Market implies -6.3%/yr
vs model +4.5% · below model
BEEP
Deeply overvalued
Mobile Infrastructure Corp
Price$2.78
Model IV$1.10
P/IV2.34
Premium +154%
Return to IV: -60.6%
Market implies +9.9%/yr
vs model +15.0% · below model
BPYPM
Deeply overvalued
Brookfield Property Partners L.P.
Price$16.11
Model IV$6.07
P/IV2.66
Premium +165%
Return to IV: -62.3%
Market implies +10.2%/yr
vs model +2.0% · above model
BPYPN
Deeply overvalued
Brookfield Property Partners L.P.
Price$13.24
Model IV$6.24
P/IV2.17
Premium +112%
Return to IV: -52.9%
Market implies +7.2%/yr
vs model +2.0% · above model
BPYPO
Deeply overvalued
Brookfield Property Partners L.P.
Price$14.70
Model IV$6.19
P/IV2.45
Premium +137%
Return to IV: -57.9%
Market implies +8.7%/yr
vs model +2.0% · above model
BPYPP
Deeply overvalued
Brookfield Property Partners L.P.
Price$15.32
Model IV$6.27
P/IV2.53
Premium +144%
Return to IV: -59.1%
Market implies +9.1%/yr
vs model +2.0% · above model
BXDC
Valuation N/A
Blackstone Digital Infrastructure Trust Inc.
Price$16.86
Model IV—
P/IV—
Limited data — see page
CBRE
Deeply overvalued
CBRE GROUP, INC.
Price$131.08
Model IV$74.15
P/IV1.76
Premium +77%
Return to IV: -43.4%
Market implies +12.2%/yr
vs model +5.8% · above model
CHCI
Fairly valued
Comstock Holding Companies, Inc.
Price$18.55
Model IV$17.60
P/IV0.87
Premium +5%
Return to IV: -5.1%
Market implies +9.9%/yr
vs model +14.7% · below model
CIGI
Overvalued
Colliers International Group Inc.
Price$86.44
Model IV$66.96
P/IV1.34
Premium +29%
Return to IV: -22.5%
Market implies +7.8%/yr
vs model +5.2% · in line
CMTG
Valuation N/A
Claros Mortgage Trust, Inc.
Price$1.24
Model IV—
P/IV—
Market implies +17.2%/yr
CRESY
Fairly valued
CRESUD INC
Price$11.58
Model IV$10.53
P/IV1.08
Premium +10%
Return to IV: -9.1%
Market implies +9.7%/yr
vs model +10.5% · in line
CSUI
Valuation N/A
CANNABIS SUISSE CORP.
Price$0.01
Model IV—
P/IV—
Market implies +60.0%/yr
CURB
Deeply overvalued
Curbline Properties Corp.
Price$27.22
Model IV$8.46
P/IV3.34
Premium +222%
Return to IV: -68.9%
Market implies +10.3%/yr
vs model +35.7% · below model
CWD
Valuation N/A
CaliberCos Inc.
Price$0.48
Model IV—
P/IV—
Market implies -21.9%/yr
vs model +2.0% · below model
CWK
Deeply overvalued
Cushman & Wakefield Ltd.
Price$11.83
Model IV$6.74
P/IV1.77
Premium +76%
Return to IV: -43.0%
Market implies +11.2%/yr
vs model +3.5% · above model
DUO
Valuation N/A
Fangdd Network Group Ltd.
Price$0.63
Model IV—
P/IV—
Market implies -7.0%/yr
vs model +2.0% · below model
EFC
Valuation N/A
Ellington Financial Inc.
Price$11.64
Model IV—
P/IV—
Limited data — see page
FOR
Fairly valued
Forestar Group Inc.
Price$25.91
Model IV$25.38
P/IV1.06
Premium +2%
Return to IV: -2.0%
Market implies -3.4%/yr
vs model +4.5% · below model
FPH
Overvalued
Five Point Holdings, LLC
Price$4.48
Model IV$3.78
P/IV1.30
Premium +19%
Return to IV: -15.7%
Market implies +4.9%/yr
vs model +4.0% · in line
FRPH
Valuation N/A
FRP HOLDINGS, INC.
Price$19.83
Model IV—
P/IV—
Market implies +16.9%/yr
vs model +8.2% · above model
FSV
Fairly valued
FirstService Corp
Price$128.22
Model IV$147.03
P/IV0.88
Discount 13%
Return to IV: +14.7%
Market implies +4.0%/yr
vs model +7.0% · below model
GTY
Deeply undervalued
GETTY REALTY CORP /MD/
Price$27.90
Model IV$62.53
P/IV0.52
Discount 55%
Return to IV: +124.1%
Market implies -4.6%/yr
vs model +7.7% · below model
HPP
Deeply undervalued
Hudson Pacific Properties, Inc.
Price$11.88
Model IV$22.06
P/IV0.53
Discount 46%
Return to IV: +85.7%
Market implies -8.4%/yr
vs model +2.2% · below model
IIPR
Deeply undervalued
INNOVATIVE INDUSTRIAL PROPERTIES INC
Price$51.92
Model IV$126.33
P/IV0.46
Discount 59%
Return to IV: +143.3%
Market implies -7.8%/yr
vs model +6.0% · below model
KW
Deeply overvalued
Kennedy-Wilson Holdings, Inc.
Price$10.92
Model IV$5.43
P/IV2.03
Premium +101%
Return to IV: -50.3%
Market implies +2.3%/yr
vs model +2.5% · in line
LPA
Valuation N/A
Logistic Properties of the Americas
Price$2.94
Model IV—
P/IV—
Limited data — see page
MLP
Valuation N/A
MAUI LAND & PINEAPPLE CO INC
Price$15.17
Model IV—
P/IV—
Market implies +29.9%/yr
MRP
Deeply overvalued
Millrose Properties, Inc.
Price$22.63
Model IV$5.85
P/IV4.21
Premium +287%
Return to IV: -74.1%
Market implies +13.4%/yr
vs model +15.0% · in line
OZ
Deeply overvalued
Belpointe PREP, LLC
Price$40.15
Model IV$26.59
P/IV1.75
Premium +51%
Return to IV: -33.8%
Market implies -4.1%/yr
vs model +50.0% · below model
SKYH
Valuation N/A
Sky Harbour Group Corp
Price$9.54
Model IV—
P/IV—
Market implies +21.7%/yr
vs model +50.0% · below model
SRG
Valuation N/A
Seritage Growth Properties
Price$1.63
Model IV—
P/IV—
Market implies +73.7%/yr
vs model +2.0% · above model
TRC
Deeply overvalued
TEJON RANCH CO
Price$16.40
Model IV$3.29
P/IV4.94
Premium +398%
Return to IV: -79.9%
Market implies +18.2%/yr
vs model +15.0% · above model
TRNO
Overvalued
Terreno Realty Corp
Price$64.48
Model IV$50.98
P/IV1.27
Premium +26%
Return to IV: -20.9%
Market implies +10.3%/yr
vs model +9.1% · in line
UE
Deeply overvalued
Urban Edge Properties
Price$19.29
Model IV$10.89
P/IV1.81
Premium +77%
Return to IV: -43.5%
Market implies +10.5%/yr
vs model +3.6% · above model
VTMX
Deeply undervalued
Vesta Real Estate Corporation, S.A.B. de C.V.
Price$33.94
Model IV$50.85
P/IV0.64
Discount 33%
Return to IV: +49.8%
Market implies +0.8%/yr
vs model +7.4% · below model
