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$1.18
Model IV—
P/IV—
Market implies +33.1%/yr
vs model +2.0% · above model
AHRT
Deeply undervalued
AH Realty Trust, Inc.
Price$6.93
Model IV$47.04
P/IV0.14
Discount 85%
Return to IV: +578.8%
Market implies -8.4%/yr
vs model +24.1% · below model
AIRE
Valuation N/A
reAlpha Tech Corp.
Price$1.46
Model IV—
P/IV—
Market implies +47.5%/yr
vs model +50.0% · in line
AOMD
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$25.40
Model IV—
P/IV—
Limited data — see page
AOMN
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$25.04
Model IV—
P/IV—
Limited data — see page
AOMR
Valuation N/A
Angel Oak Mortgage REIT, Inc.
Price$9.00
Model IV—
P/IV—
Limited data — see page
BEEP
Deeply overvalued
Mobile Infrastructure Corp
Price$2.48
Model IV$1.64
P/IV1.35
Premium +51%
Return to IV: -33.9%
Market implies -1.0%/yr
vs model +15.0% · below model
BPYPM
Valuation N/A
Brookfield Property Partners L.P.
Price$16.12
Model IV—
P/IV—
Limited data — see page
BPYPN
Valuation N/A
Brookfield Property Partners L.P.
Price$13.93
Model IV—
P/IV—
Limited data — see page
BPYPO
Valuation N/A
Brookfield Property Partners L.P.
Price$15.30
Model IV—
P/IV—
Limited data — see page
BPYPP
Valuation N/A
Brookfield Property Partners L.P.
Price$16.04
Model IV—
P/IV—
Limited data — see page
BXDC
Valuation N/A
Blackstone Digital Infrastructure Trust Inc.
Price$20.97
Model IV—
P/IV—
Limited data — see page
CBRE
Deeply overvalued
CBRE GROUP, INC.
Price$147.40
Model IV$84.26
P/IV1.48
Premium +75%
Return to IV: -42.8%
Market implies +16.5%/yr
vs model +11.4% · above model
CHCI
Undervalued
Comstock Holding Companies, Inc.
Price$14.95
Model IV$17.60
P/IV0.87
Discount 15%
Return to IV: +17.7%
Market implies +7.1%/yr
vs model +14.7% · below model
CIGI
Deeply overvalued
Colliers International Group Inc.
Price$101.54
Model IV$65.73
P/IV1.44
Premium +54%
Return to IV: -35.3%
Market implies +11.5%/yr
vs model +6.8% · above model
CMTG
Valuation N/A
Claros Mortgage Trust, Inc.
Price$1.86
Model IV—
P/IV—
Market implies +30.5%/yr
vs model +2.0% · above model
CRESY
Valuation N/A
CRESUD INC
Price$10.81
Model IV—
P/IV—
Limited data — see page
CURB
Deeply undervalued
Curbline Properties Corp.
Price$30.05
Model IV$53.19
P/IV0.55
Discount 44%
Return to IV: +77.0%
Market implies +11.3%/yr
vs model +25.0% · below model
CWD
Valuation N/A
CaliberCos Inc.
Price$0.53
Model IV—
P/IV—
Market implies -20.9%/yr
vs model +2.0% · below model
CWK
Deeply overvalued
Cushman & Wakefield Ltd.
Price$13.83
Model IV$5.86
P/IV2.12
Premium +136%
Return to IV: -57.6%
Market implies +15.3%/yr
vs model +3.0% · above model
DUO
Undervalued
Fangdd Network Group Ltd.
Price$0.64
Model IV$0.78
P/IV1.42
Discount 18%
Return to IV: +22.6%
Market implies -7.0%/yr
vs model +2.0% · below model
EFC
Valuation N/A
Ellington Financial Inc.
Price$13.60
Model IV—
P/IV—
Limited data — see page
FOR
Overvalued
Forestar Group Inc.
Price$29.64
Model IV$25.38
P/IV1.06
Premium +17%
Return to IV: -14.4%
Market implies -1.5%/yr
vs model +4.5% · below model
FPH
Valuation N/A
Five Point Holdings, LLC
Price$5.22
Model IV—
P/IV—
Limited data — see page
FRPH
Valuation N/A
FRP HOLDINGS, INC.
Price$21.92
Model IV—
P/IV—
Market implies +18.2%/yr
vs model +8.2% · above model
FSV
Undervalued
FirstService Corp
Price$143.91
Model IV$177.09
P/IV0.76
Discount 19%
Return to IV: +23.1%
Market implies +6.0%/yr
vs model +11.0% · below model
GTY
Deeply undervalued
GETTY REALTY CORP /MD/
Price$33.39
Model IV$62.53
P/IV0.52
Discount 47%
Return to IV: +87.3%
Market implies -2.4%/yr
vs model +7.7% · below model
HPP
Deeply undervalued
Hudson Pacific Properties, Inc.
Price$14.36
Model IV$24.90
P/IV0.48
Discount 42%
Return to IV: +73.4%
Market implies -5.6%/yr
vs model +3.9% · below model
IIPR
Deeply undervalued
INNOVATIVE INDUSTRIAL PROPERTIES INC
Price$59.16
Model IV$126.33
P/IV0.46
Discount 53%
Return to IV: +113.5%
Market implies -6.0%/yr
vs model +5.9% · 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$2.99
Model IV—
P/IV—
Limited data — see page
MLP
Valuation N/A
MAUI LAND & PINEAPPLE CO INC
Price$17.32
Model IV—
P/IV—
Market implies +40.0%/yr
vs model +11.8% · above model
MRP
Deeply undervalued
Millrose Properties, Inc.
Price$30.33
Model IV$64.43
P/IV0.44
Discount 53%
Return to IV: +112.4%
Market implies -6.6%/yr
vs model +4.0% · below model
OZ
Deeply overvalued
Belpointe PREP, LLC
Price$47.13
Model IV$26.59
P/IV1.75
Premium +77%
Return to IV: -43.6%
Market implies -2.1%/yr
vs model +50.0% · below model
SKYH
Valuation N/A
Sky Harbour Group Corp
Price$11.00
Model IV—
P/IV—
Market implies +23.7%/yr
vs model +50.0% · below model
SRG
Valuation N/A
Seritage Growth Properties
Price$2.27
Model IV—
P/IV—
Market implies +79.7%/yr
vs model +2.0% · above model
TRC
Deeply overvalued
TEJON RANCH CO
Price$16.41
Model IV$6.72
P/IV2.87
Premium +144%
Return to IV: -59.0%
Market implies +3.2%/yr
vs model +15.0% · below model
TRNO
Undervalued
Terreno Realty Corp
Price$68.84
Model IV$97.46
P/IV0.67
Discount 29%
Return to IV: +41.6%
Market implies +7.7%/yr
vs model +15.9% · below model
UE
Undervalued
Urban Edge Properties
Price$21.87
Model IV$28.51
P/IV0.79
Discount 23%
Return to IV: +30.4%
Market implies -0.7%/yr
vs model +3.1% · below model
VTMX
Valuation N/A
Vesta Real Estate Corporation, S.A.B. de C.V.
Price$33.85
Model IV—
P/IV—
Market implies +42.3%/yr
vs model +15.2% · above model