U.S. Listed REITs Traded at 3.3% Median Discount to NAV as of November 30
December 5, 2017 | James Sprow | Blue Vault
According to SNL, U.S. equity REITs traded at a median discount to consensus net asset value of 3.3% as of November 30.
At the end of November, the self-storage sector traded at the greatest median premium to NAV at 9.7%, while regional mall REITs traded at a 30.9% median discount to NAV, the largest discount.
Of the top 10 traded REITs trading at a premium to NAV as of November 30, four were healthcare REITs, two were industrial, two were diversified and one each were multifamily and self-storage.
Among the top ten listed REITs trading at the greatest discount to NAV, four were regional mall REITs, three were shopping center REITs, and two were office REITs.
After the self-storage sector, listed industrial REITs, with eleven REITs in the sector, had a median premium to NAV of 7.8%, followed by data center REITs (5 REITs) with a median premium to NAV of 6.6%. The healthcare sector with 17 REITs was trading at a median premium to NAV of 5.8%.
One former nontraded REIT, New York REIT (NYRT), was trading at a 51.6% discount to NAV as of November 30, 2017.
Blue Vault helps me to stay well informed on the financial status of both open and closed nontraded REITs and BDCs, so that I can help my clients better understand the product, before they make the decision to invest and after.