Global Real Estate Potentially Undervalued Companies

Sasseur Real Estate Investment Trust

Market Cap: S$725.4m

Invests in a portfolio of real estate and related assets.

Keppel Pacific Oak US REIT

Market Cap: US$188.0m

Keppel Pacific Oak US REIT (KORE) is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on 9 November 2017.

Montea Comm. VA

Market Cap: €1.3b

Montea NV is a public regulated real estate company under Belgian law (GVV/SIR) that specializes in logistics real estate in Belgium, the Netherlands, France, and Germany.

CapitaLand Malaysia Trust

Market Cap: RM 1.8b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 July 2010.

Host Hotels & Resorts

Market Cap: US$9.7b

An S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels.

RioCan Real Estate Investment Trust

Market Cap: CA$4.8b

RioCan is one of Canada’s largest real estate investment trusts.

Nexus Industrial REIT

Market Cap: CA$598.3m

A growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties.

Argan

Market Cap: €1.4b

Engages in designing, building, developing, owning, leasing, and managing logistical platforms in France.

Gecina

Market Cap: €6.3b

As a specialist for centrality and uses, Gecina operates innovative and sustainable living spaces.

FIBRA Macquarie México

Market Cap: Mex$24.0b

FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties.

Rayonier

Market Cap: US$3.9b

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.

Carmila

Market Cap: €2.4b

As the third-largest listed owner of commercial property in Europe, Carmila was founded by Carrefour and large institutional investors in order to enhance the value of shopping centres adjoining Carrefour hypermarkets in France, Spain and Italy.

Allied Properties Real Estate Investment Trust

Market Cap: €2.0b

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities.

BXP

Market Cap: US$9.6b

BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.

Global Net Lease

Market Cap: US$1.6b

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE.

RioCan Real Estate Investment Trust

Market Cap: US$4.8b

RioCan is one of Canada’s largest real estate investment trusts.

Care Property Invest

Market Cap: €426.9m

Care Property Invest NV/SA is a Public Regulated Real Estate Company (public RREC) under Belgian law.

Plymouth Industrial REIT

Market Cap: US$648.3m

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties.

Federal Realty Investment Trust

Market Cap: US$7.8b

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C.

Apple Hospitality REIT

Market Cap: US$2.8b

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust ("REIT") that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.

Rural Funds Group

Market Cap: AU$660.6m

An agricultural Real Estate Investment Trust (REIT) listed on the ASX under the code RFF.

Shurgard Self Storage

Market Cap: €3.2b

Engages in the acquisition, development, and operation of self-storage facilities for business and personal use.

ESR-REIT

Market Cap: €1.6b

ESR-LOGOS REIT is a leading New Economy and future-ready Asia Pacific S-REIT.

Digital Core REIT

Market Cap: US$597.3m

Digital Core REIT (SGX: DCRU) is a leading pure-play data centre REIT listed in Singapore and sponsored by Digital Realty (NYSE: DLR), the largest global data centre owner and operator.

OUE Real Estate Investment Trust

Market Cap: S$1.5b

OUE Real Estate Investment Trust (“OUE REIT”), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs (“S-REITs”) with total assets of S$6.3 billion as of 31 December 2023.

AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust

Market Cap: ฿7.9b

Focuses on investing in freehold right of land, cold storage buildings, and immovable assets related to cold storage and warehouses in Thailand.

BXP

Market Cap: €9.6b

BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.

BRT Apartments

Market Cap: €308.1m

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties.

Mapletree Pan Asia Commercial Trust

Market Cap: S$6.0b

Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia.

FrontView REIT

Market Cap: US$328.2m

FrontView is an internally-managed net-lease REIT that acquires, owns and manages primarily properties with frontage that are net leased to a diversified group of tenants.

Argan

Market Cap: €1.4b

Engages in designing, building, developing, owning, leasing, and managing logistical platforms in France.

Americold Realty Trust

Market Cap: US$5.5b

Americold is a global leader in temperature-controlled logistics real estate and value added services.

H&R Real Estate Investment Trust

Market Cap: €2.6b

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.8 billion as at December 31, 2023.

Simon Property Group

Market Cap: US$55.9b

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”).

Workspace Group

Market Cap: €768.3m

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq.

City Office REIT

Market Cap: US$174.3m

City Office REIT, Inc. (the “Company”) was organized in the state of Maryland on November 26, 2013.