Listed US Equity REITs Traded at Median 2.6% Premium to NAV on November 1
November 4, 2021 | James Sprow | Blue Vault
Publicly traded U.S. equity REITs traded at a median 2.6% premium to their consensus S&P Global Market Intelligence net asset value per-share estimates as of Nov. 1, an improvement from the 0.3% median premium at which they traded as of Oct. 1.
The communications sector traded at the largest premium to NAV, at a median of 29.8%. Within the communications sector, SBA Communications Corp. traded at a premium of 34.5%, followed by American Tower Corp. at 29.8%. Both companies were included in the list of top 10 premiums to NAV among all U.S. equity REITs above $200 million market capitalization, ranked at seventh place and 10th place, respectively.
The self-storage segment followed at a median premium of 18.4%, while the data center sector was close behind at 17.9%.
On the other hand, the office sector traded at the largest discount to NAV at a median of 18.1%. The hotel and timber sectors followed at median discounts of 12.1% and 8.6%, respectively.
The office REIT Paramount Group Inc. traded at the largest discount to NAV among all U.S. equity REITs above $200 million market capitalization, at 47.1%.
Source: S&P Capital IQ
