U.S. Real Estate Potentially Undervalued Companies

Global Net Lease

Market Cap: US$1.6b

A publicly traded real estate investment trust listed on the NYSE, which focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, United Kingdom, and Western and Northern Europe.

Fibra UNO

Market Cap: US$97.4b

Fibra UNO Trust was established as a Real Estate Investment Trust on January 12, 2011, by Fibra UNO Administración, SA de CV (the "Settlor") and Deutsche Bank México, SA, Institución de Banca Múltiple, División Fiduciaria (the "Trustee" or "Deutsche Bank").

ESR-REIT

Market Cap: US$1.9b

A leading New Economy and future-ready Asia Pacific S-REIT.

Warehouses De Pauw

Market Cap: US$4.9b

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

Park Hotels & Resorts

Market Cap: US$2.0b

Park is one of the largest publicly-traded lodging real estate investment trusts ("REIT") with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value.

Host Hotels & Resorts

Market Cap: US$10.9b

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.

National Health Investors

Market Cap: US$3.3b

Incorporated in 1991, National Health Investors, Inc.

Innovative Industrial Properties

Market Cap: US$1.6b

A real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities.

Industrial Logistics Properties Trust

Market Cap: US$299.0m

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

Kite Realty Group Trust

Market Cap: US$5.0b

Kite Realty Group (NYSE: KRG), a real estate investment trust (REIT), is a premier owner and operator of open-air shopping centers and mixed-use assets.

Rayonier

Market Cap: US$3.6b

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.

NewLake Capital Partners

Market Cap: US$324.0m

An internally-managed real estate investment trust (“REIT”) that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects.

Apple Hospitality REIT

Market Cap: US$2.7b

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.

NNN REIT

Market Cap: US$8.0b

NNN invests in high-quality properties subject generally to long-term, net leases with minimal ongoing capital expenditures.

Iron Mountain

Market Cap: US$30.3b

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.

Federal Realty Investment Trust

Market Cap: US$8.3b

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C.

Plymouth Industrial REIT

Market Cap: US$753.6m

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties.

Gaming and Leisure Properties

Market Cap: US$13.0b

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.

Americold Realty Trust

Market Cap: US$4.8b

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

Generation Income Properties

Market Cap: US$7.4m

Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office, and industrial net lease properties in densely populated submarkets.

Simon Property Group

Market Cap: US$59.3b

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”).

Land Securities Group

Market Cap: US$4.7b

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential.

Montea Comm. VA

Market Cap: US$1.5b

Montea NV is a listed real estate company under Belgian law (GVV/SIR) that specializes in logistics property in Belgium, the Netherlands, France, and Germany.

Brixmor Property Group

Market Cap: US$7.8b

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.

Service Properties Trust

Market Cap: US$409.9m

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

LTC Properties

Market Cap: US$1.6b

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.

Dream Industrial Real Estate Investment Trust

Market Cap: US$3.4b

Dream Industrial REIT is an owner, manager and operator of a global portfolio of well-located, diversified industrial properties.

Granite Real Estate Investment Trust

Market Cap: US$4.2b

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe.

Digital Core REIT

Market Cap: US$668.8m

Digital Core REIT (SGX: DCRU) is a leading pure-play data centre REIT listed in Singapore and sponsored by Digital Realty (NYSE: DLR), the largest global data centre owner and operator.

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.

Orion Properties

Market Cap: US$110.7m

Orion Office REIT specializes in the ownership, acquisition and management of a diversified portfolio of mission-critical and corporate headquarters office buildings in high-quality suburban markets across the U.S.

Omega Healthcare Investors

Market Cap: US$11.1b

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.

OUTFRONT Media

Market Cap: US$2.6b

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard and transit assets in the United States.

Sotherly Hotels

Market Cap: US$19.7m

A self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States.

Global Medical REIT

Market Cap: US$430.6m

Global medical REIT inc. (GMRE) is a net-lease medical real estate investment trust (REIT) that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.

Crown Castle

Market Cap: US$43.0b

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.