Global Real Estate Potentially Undervalued Companies

Hispanotels Inversiones Socimi

Market Cap: €100.5m

Engages in the investment in hotel, office, residential, and commercial real estate property markets.

Terreno Realty

Market Cap: US$6.1b

Terreno Realty Corporation (“Terreno”, and together with its subsidiaries, the “Company”) acquires, owns and operates industrial real estate in six major coastal U.S.

Wheeler Real Estate Investment Trust

Market Cap: US$2.9m

Headquartered in Virginia Beach, Virginia, Wheeler Real Estate Investment Trust, Inc.

Summit Hotel Properties

Market Cap: US$670.6m

A publicly traded real estate investment trust focused on owning premium-branded lodging facilities with efficient operating models primarily in the upscale segment of the lodging industry.

CLS Holdings

Market Cap: UK£224.5m

Engages in the investment, development, and management of commercial properties in the United Kingdom, Germany, and France.

Residential Secure Income

Market Cap: UK£108.0m

A real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two residential sub-sectors in UK residential - independent retirement rentals and shared ownership - underpinned by an ageing demographic and untapped and strong demand for affordable home ownership.

Servet Gayrimenkul Yatirim Ortakligi

Market Cap: ₺11.3b

Servet Gayrimenkul Yatirim Ortakligi A.S.

Veris Residential

Market Cap: €1.7b

A forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast.

Accelerate Property Fund

Market Cap: R754.1m

Accelerate Property Fund aspires to be the most valued property fund on the Johannesburg Stock Exchange by acquiring high-quality properties with long-term leases with strong tenants.

Avrupakent Gayrimenkul Yatirim Ortakligi Anonim Sirketi

Market Cap: ₺25.0b

Engages in the real estate development, leasing, and business administration activities in Turkey.

Derwent London

Market Cap: UK£1.9b

Derwent London plc owns 62 buildings in a commercial real estate portfolio predominantly in central London valued at £5.0 billion as at 31 December 2024, making it the largest London office-focused real estate investment trust (REIT).

Japan Prime Realty Investment

Market Cap: US$401.8b

Japan Prime Realty Investment Corporation (JPR) was established on September 14, 2001, under the Act on Investment Trusts and Investment Corporations (Act No.

Industrial Logistics Properties Trust

Market Cap: €406.6m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

Forucom REIT-Haskovo

Market Cap: лв3.0m

n/a

Argan

Market Cap: €1.7b

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France.

Samty Residential Investment

Market Cap: JP¥94.1b

Samty Residential was established in accordance with the Act on Investment Trusts and Investment Corporations (Act No.

Industrial & Infrastructure Fund Investment

Market Cap: JP¥322.1b

IIF was established on March 26, 2007 based on “Act on Investment Trust and Investment Corporation” (hereinafter referred to as “Investment Trust Law”) and became listed on the J-REIT market of the Tokyo Stock Exchange on October 18, 2007 (ticker code: 3249).

Argosy Property

Market Cap: NZ$1.1b

Argosy Property Limited (APL or the Company) is an FMC Reporting Entity under the Financial Markets Conduct Act 2013 and the Financial Reporting Act 2013.

Hudson Pacific Properties

Market Cap: €1.2b

A real estate investment trust, or REIT, and the sole general partner of our operating partnership.

Retail Estates

Market Cap: €1.0b

A Belgian public real estate investment trust and is a niche player specialised in making out-of town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users.

Trade Estates REIC

Market Cap: €210.3m

Engages in the rental of commercial real estate properties in Greece, Cyprus, and Bulgaria.

Sun Communities

Market Cap: US$16.6b

Established in 1975, Sun Communities, Inc.

Americold Realty Trust

Market Cap: R$3.9b

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

Spring Real Estate Investment Trust

Market Cap: HK$2.5b

Spring Real Estate Investment Trust (“Spring REIT”, stock code: 1426) is a real estate investment trust which invests in high quality income-producing real estate.

Société Centrale des Bois et des Scieries de la Manche

Market Cap: €120.7m

Societe Centrale des Bois et Scieries de la Manche engages in the ownership, management, and lease of real estate properties in France.

Tower Real Estate Investment Trust

Market Cap: RM 135.0m

Tower REIT was constituted under the Deed dated 17 February 2006 (as amended and restated by the restated deed dated 29 May 2014 and the second restated deed dated 23 October 2019) entered into between the Manager and MTrustee Berhad, acting as the Trustee of Tower REIT, and listed on the Main Market of Bursa Malaysia Securities Berhad on 12 April 2006.

Retail Estates

Market Cap: €1.0b

A Belgian public real estate investment trust and is a niche player specialised in making out-of town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users.

Atrium Real Estate Investment Trust

Market Cap: RM 347.9m

An industrial asset focused real estate investment trust constituted by a Trust Deed entered into on 20 November 2006, amended by the First Supplementary Deed dated 25 November 2008 and the Restated Deed dated 24 March 2016 between CIMB Commerce Trustee Berhad (formerly known as BHLB Trustee Berhad) as the Trustee and Atrium REIT Managers Sdn Bhd as the Manager (collective known as First Deed).

Ingenia Communities Group

Market Cap: US$2.3b

Ingenia Communities Group (ASX: INA) is a leading operator, owner and developer of communities offering quality affordable rental and holiday accommodation focussed on the growing seniors’ market in Australia.

Stoneweg Europe Stapled Trust

Market Cap: S$874.8m

Stoneweg Europe Stapled Trust (“SERT”, formerly Cromwell European REIT and renamed as Stoneweg European REIT following the change in Sponsor) is a stapled group comprising Stoneweg European Real Estate Investment Trust and Stoneweg European Business Trust.

Grande Hospitality Real Estate Investment Trust

Market Cap: ฿912.6m

n/a

True North Commercial Real Estate Investment Trust

Market Cap: US$132.0m

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario.

Al Maather Reit Fund

Market Cap: ر.س555.4m

A real estate investment fund.

Prime US REIT

Market Cap: US$177.9m

Listed on 19 July 2019 on the Main Board of the Singapore Exchange, Prime US REIT (“PRIME”) is a well-diversified real estate investment trust ("REIT") focused on stabilised income-producing office assets in the United States ("U.S.").

Fortune Real Estate Investment Trust

Market Cap: US$10.2b

Fortune Real Estate Investment Trust (“Fortune REIT”) is a real estate investment trust constituted by a trust deed (“Trust Deed”) entered into on 4 July 2003 (as amended, supplemented or otherwise modified from time to time).

Host Hotels & Resorts

Market Cap: Mex$10.6b

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.