Global Real Estate Potentially Undervalued Companies

SmartCentres Real Estate Investment Trust

Market Cap: €4.6b

SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 196 strategically located properties in communities across the country.

British Land

Market Cap: €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.

Hammerson

Market Cap: €1.5b

Hammerson is the largest UK-listed, pure-play owner and manager of prime retail and leisure anchored city destinations across the UK, France and Ireland.

Great Portland Estates

Market Cap: €1.2b

We are a FTSE 250 property investment and development company, owning a £2.4 billion portfolio of London real estate.

R&R Real Estate Investment Trust

Market Cap: US$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.

Healthpeak Properties

Market Cap: US$12.4b

A fully integrated real estate investment trust (REIT) and S&P 500 company.

Diversified Healthcare Trust

Market Cap: €907.7m

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States.

DiamondRock Hospitality

Market Cap: US$1.7b

A self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets.

Diversified Healthcare Trust

Market Cap: US$907.7m

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States.

PotlatchDeltic

Market Cap: US$3.3b

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina.

Automotive Properties Real Estate Investment Trust

Market Cap: CA$580.1m

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM dealership and service properties located in Canada and the United States.

Olimpo Retail Germany SOCIMI

Market Cap: €101.1m

Engages in the acquisition and management of commercial real estate assets in Germany.

Brandywine Realty Trust

Market Cap: €717.8m

Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in Philadelphia, PA and Austin, TX.

Omega Healthcare Investors

Market Cap: €12.8b

A Real Estate Investment Trust (“REIT”) providing financing and capital to the long-term healthcare industry with a focus on skilled nursing and assisted living facilities located in the United States and the United Kingdom.

Whitestone REIT

Market Cap: US$670.0m

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.

Rexford Industrial Realty

Market Cap: US$10.2b

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation.

Alexandria Real Estate Equities

Market Cap: R$14.1b

Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world.

Fibra Danhos

Market Cap: Mex$41.4b

We are a Mexican trust constituted, primarily, to develop, own, lease, operate, and acquire iconic and premier-quality real estate assets in Mexico.

Highwoods Properties

Market Cap: US$3.4b

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE: HIW), fully-integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.

Warehouses De Pauw

Market Cap: €5.2b

WDP develops and invests in logistics real estate warehouses and offices.

VICI Properties

Market Cap: Mex$36.0b

An S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.

Gaming and Leisure Properties

Market Cap: R$14.0b

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

FIBRA Terrafina

Market Cap: US$24.0b

Terrafina (BMV: TERRA13) is a Mexican real estate investment trust formed primarily to acquire, develop, lease and manage industrial real estate properties in Mexico.

Kilroy Realty

Market Cap: US$4.9b

Kilroy is a leading U.S. landlord and developer, with operations in San Diego, Los Angeles, the San Francisco Bay Area, Seattle, and Austin.

CBL & Associates Properties

Market Cap: €963.7m

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities.

Inmobiliaria Colonial SOCIMI

Market Cap: €3.5b

Inmobiliaria Colonial is the leading platform in the prime commercial real estate market in Europe, with a presence in the main business areas of Barcelona, Madrid, and Paris.

Apple Hospitality REIT

Market Cap: Mex$3.1b

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.

Medical Properties Trust

Market Cap: R$2.7b

A self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities.

Service Properties Trust

Market Cap: €454.9m

SVC is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties.

Healthcare Realty Trust

Market Cap: US$6.2b

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses.

Bluerock Homes Trust

Market Cap: US$174.6m

Bluerock Homes Trust, Inc. (NYSE American: BHM), headquartered in New York, New York, is an externally managed REIT that owns and operates a portfolio of institutional residential properties including single-family homes, build-to-rent communities, and other residential communities located in attractive markets with a focus on the knowledge-economy and high quality of life regions of the Sunbelt and high growth areas of the Western United States.

Essex Property Trust

Market Cap: €17.8b

An S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.

Nexus Industrial REIT

Market Cap: €765.2m

Nexus is 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.

IGB Commercial Real Estate Investment Trust

Market Cap: RM 1.4b

IGB Commercial REIT (IGBCR) was listed on the Main Market of Bursa Malaysia Securities Berhad (Bursa) on 20 September 2021.

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi

Market Cap: ₺13.0b

Engages in the real estate investment activities.

DEXUS

Market Cap: AU$8.1b

Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $53.4 billion.