Global Real Estate Potentially Undervalued Companies

Canadian Apartment Properties Real Estate Investment Trust

Market Cap: US$6.5b

CAPREIT is Canada's largest publicly traded provider of quality rental housing.

Equinix

Market Cap: €77.4b

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company.

Octodec Investments

Market Cap: R2.9b

Octodec Investments Limited (Octodec or the company), its subsidiaries and associated company (the group) is a real estate investment trust (REIT) listed on the JSE Ltd (JSE) and A2X, with a diversified portfolio of 226 residential, retail, office and industrial properties situated in the major metropolitan areas of Tshwane and Johannesburg.

Ventas

Market Cap: US$31.1b

Ventas, Inc. (NYSE: VTR) is a leading S&P 500 real estate investment trust enabling exceptional environments that benefit a large and growing aging population.

UMH Properties

Market Cap: €1.3b

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which 10,600 contain rental homes, and over 1,000 self-storage units.

Sabra Health Care REIT

Market Cap: €4.7b

Sabra Health Care REIT, Inc. as of March 31, 2025 investment portfolio included 364 real estate properties held for investment (consisting of (i) 224 skilled nursing/transitional care facilities, (ii) 39 senior housing communities (senior housing - leased), (iii) 69 senior housing communities operated by third-party property managers pursuant to property management agreements (senior housing - managed), (iv) 17 behavioral health facilities and (v) 15 specialty hospitals and other facilities), 15 investments in loans receivable (consisting of three mortgage loans and 12 other loans), four preferred equity investments and two investments in unconsolidated joint ventures.

Safehold

Market Cap: US$1.2b

Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings.

One Liberty Properties

Market Cap: US$500.0m

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982.

British Land

Market Cap: US$3.4b

British Land is a UK commercial property company focused on real estate sectors with the strongest operational fundamentals: London campuses, retail parks, and London urban logistics.

Slate Grocery REIT

Market Cap: US$841.9m

An owner and operator of U.S.

Fair Value REIT-AG

Market Cap: €51.9m

A real estate investment trust focused on owning and managing commercial real estate Commercial real estate in German regional centers.

Xenia Hotels & Resorts

Market Cap: €1.4b

A self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States.

H&R Real Estate Investment Trust

Market Cap: US$3.4b

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.5 billion as at March 31, 2025.

Home Invest Belgium

Market Cap: €429.4m

Operates as a real estate investment company in Belgium.

CareTrust REIT

Market Cap: €7.7b

CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of seniors housing and healthcare-related properties.

Independence Realty Trust

Market Cap: US$4.3b

Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S.

R&R Real Estate Investment Trust

Market Cap: CA$37.2m

R&R REIT is an unincorporated, open-ended real estate investment trust established pursuant to the Declaration of Trust (“DOT”) dated July 16, 2014, and is governed by the laws of the province of Ontario.

Scentre Group

Market Cap: US$21.4b

Owns and operates 42 Westfield destinations with 37 located in Australia and five in New Zealand.

MREIT

Market Cap: ₱55.4b

Operates as a real estate investment trust.

Iron Mountain

Market Cap: R$27.2b

Iron Mountain Incorporated (NYSE: IRM) is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds.

Essential Properties Realty Trust

Market Cap: €6.2b

A real estate company, acquires, owns, and manages single-tenant properties in the United States.

Investore Property

Market Cap: NZ$438.0m

Investore Property Limited (Investore) is a commercial property ownership business that has been established to invest in quality Large Format Retail property assets.

Redefine Properties

Market Cap: €34.4b

A Real Estate Investment Trust (REIT) with a sectoral and geographically diversified property asset platform valued at R99.4 billion (FY24: R99.6 billion).

Empiric Student Property

Market Cap: US$661.5m

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities.

Nextensa/SA

Market Cap: €453.1m

Nextensa is a mixed-use real estate investor and developer.

Supermarket Income REIT

Market Cap: US$974.6m

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the feed the nation infrastructure.

CapitaLand Integrated Commercial Trust

Market Cap: US$17.3b

CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$15.9 billion as at 30 June 2025.

Frasers Logistics & Commercial Trust

Market Cap: S$3.4b

Frasers Logistics & Commercial Trust (“FLCT”) is a Singapore-listed real estate investment trust with a portfolio comprising 114 industrial and commercial properties, worth approximately S$6.8 billion, diversified across five major developed markets – Australia, Germany, Singapore, the United Kingdom and the Netherlands.

Suntec Real Estate Investment Trust

Market Cap: S$3.9b

Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore’s largest integrated commercial development (including one of Singapore’s largest shopping mall), a 66.3% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay and a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall.

Alkhabeer REIT Fund

Market Cap: ر.س805.2m

A real estate investment fund.

HomeCo Daily Needs REIT

Market Cap: AU$2.8b

An Australian Real Estate Investment Trust listed on the ASX with a mandate to invest in convenience-based assets across the target sub-sectors of Neighbourhood Retail, Large Format Retail and Health & Services.

Centuria Industrial REIT

Market Cap: AU$2.1b

CIP is Australia’s largest domestic pure play industrial REIT and is included in the S&P/ASX 200 Index.

Four Corners Property Trust

Market Cap: €2.7b

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties.

Weyerhaeuser

Market Cap: €18.8b

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada.

Embassy Office Parks REIT

Market Cap: ₹361.3b

Owns, operates, and invests in real estate and related assets in India.

Mapletree Pan Asia Commercial Trust

Market Cap: €7.2b

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