U.S. Real Estate Potentially Undervalued Companies

Daiwa House Logistics Trust

Market Cap: US$450.2m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

Shurgard Self Storage

Market Cap: US$3.4b

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

CapitaLand Integrated Commercial Trust

Market Cap: US$15.4b

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$14.1 billion as at 31 December 2024.

AvalonBay Communities

Market Cap: US$29.1b

A member of the S&P 500, is an equity REIT that develops, redevelops, acquires and manages apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

RLJ Lodging Trust

Market Cap: US$1.1b

RLJ Lodging Trust ("RLJ") is a self-advised, publicly traded real estate investment trust that owns 95 premium-branded, rooms-oriented, high-margin, urban-centric hotels located within the heart of demand locations.

Community Healthcare Trust

Market Cap: US$448.7m

A real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States.

Crown Castle

Market Cap: US$45.0b

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S.

Nexus Industrial REIT

Market Cap: US$652.1m

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.

Uniti Group

Market Cap: US$1.1b

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry.

Wheeler Real Estate Investment Trust

Market Cap: US$561.0k

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

SITE Centers

Market Cap: US$632.0m

SITE Centers is an owner and manager of open-air shopping centers located primarily in suburban, high household income communities.

Empire State Realty Trust

Market Cap: US$2.0b

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets.

Office Properties Income Trust

Market Cap: US$19.1m

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S.

Lippo Malls Indonesia Retail Trust

Market Cap: US$107.8m

LMIR Trust is a Singapore-based real estate investment trust established with the principal investment objective of owning and investing, on a long-term basis, in a diversified portfolio of income-producing real estate in Indonesia that are primarily used for retail and/or retail-related purposes.

Primaris Real Estate Investment Trust

Market Cap: US$1.5b

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets.

Aedifica/SA

Market Cap: US$3.2b

Aedifica is a regulated real estate company under Belgian law specializing in European healthcare real estate and more particularly in healthcare real estate elderly people.

Inland Real Estate Income Trust

Market Cap: US$379.2m

The Company was formed on August 24, 2011 to acquire and manage a portfolio of commercial real estate investments located in the United States.

Manulife US Real Estate Investment Trust

Market Cap: US$111.9m

Manulife US Real Estate Investment Trust (“Manulife US REIT” or “MUST”) is the first pure-play U.S.

KBS Real Estate Investment Trust III

Market Cap: US$133.7m

KBS Real Estate Investment Trust III, Inc.

Icade

Market Cap: US$1.6b

A full-service real estate company with expertise in both commercial property investment (portfolio worth €6.8bn on a full consolidation basis as of 12/31/2023) and property development (2023 economic revenue of €1.3bn) that operates throughout France.

Fibra Danhos

Market Cap: US$31.3b

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

Sella Capital Real Estate

Market Cap: US$1.6b

A real estate investment trust, is engaged in the acquisition, management, holding, and rental of yielding real estate properties in Israel.

United Hampshire US Real Estate Investment Trust

Market Cap: US$259.6m

Listed on the Main Board of the Singapore Exchange on 12 March 2020, UHREIT is a Singapore real estate investment trust established with the principal investment strategy of investing in a diversified portfolio of stabilised income-producing (i) grocery-anchored and necessity-based retail properties (“Grocery & Necessity Properties”), and (ii) modern, climate-controlled self-storage facilities (“Self-Storage Properties”), located in the U.S.

Eurocommercial Properties

Market Cap: US$1.2b

A Euronext-quoted property investment company and one of Europe’s shopping centre specialists.

NexPoint Residential Trust

Market Cap: US$943.1m

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.

DiamondRock Hospitality

Market Cap: US$1.6b

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.

Healthpeak Properties

Market Cap: US$12.3b

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

R&R Real Estate Investment Trust

Market Cap: US$45.6m

R&R REIT is an open-ended real estate investment trust focused on increasing unitholder value through the acquisition and ownership of hotel properties located in the United States.

Sun Communities

Market Cap: US$16.1b

Established in 1975, Sun Communities, Inc.

Global Self Storage

Market Cap: US$59.0m

Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, and redevelops self-storage properties.

Healthcare Realty Trust

Market Cap: US$5.5b

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.

Rexford Industrial Realty

Market Cap: US$8.2b

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.

NorthStar Healthcare Income

Market Cap: US$343.6m

NorthStar Healthcare was formed to acquire, originate and asset manage a diversified portfolio of equity, debt and securities investments in healthcare real estate, directly or through joint ventures, with a focus on the mid-acuity senior housing sector, which NorthStar Healthcare defines as assisted living, memory care, skilled nursing and independent living facilities and continuing care retirement communities.

Wheeler Real Estate Investment Trust

Market Cap: US$568.9k

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

Regency Centers

Market Cap: US$13.1b

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics.

Equity LifeStyle Properties

Market Cap: US$12.8b

We are a self-administered, self-managed real estate investment trust ("REIT") with headquarters in Chicago.