Specialty REITs with the lowest EV/EBIT

Ranked

116

of 164 specialty REITs we cover

Median

25.0×

Lowest

0.2×

SQFT

Range

0.2× to 211×

#	Company	EV/EBIT	PE	Operating margin	Market cap
1	SQFTPresidio Property Trust	0.2×	n/m	n/m	$1.1M
2	MDRRMedalist Diversified	2.1×	2.5×	n/m	$15.4M
3	AHTAshford Hospitality Trust	4.7×	n/m	n/m	$18.2M
4	ADAMAdamas Trust	4.9×	4.6×	n/m	$702M
5	SEVNSeven Hills Realty Trust	6.0×	9.2×	n/m	$140.4M
6	REFIChicago Atlantic Real Estate Finance	6.8×	6.8×	n/m	$240.1M
7	BHRBraemar Hotels & Resorts	8.2×	n/m	n/m	$96.8M
8	ALXAlexanders	8.3×	7.5×	n/m	$1.3B
9	CHMICherry Hill Mortgage Investment	9.4×	14.2×	n/m	$94.6M
10	CBLCBL & Associates Properties	10.6×	7.2×	n/m	$1.5B
11	BXPBXP	11.1×	33.4×	n/m	$9.9B
12	STRWStrawberry Fields REIT	11.2×	19.8×	n/m	$179.4M
13	CUZCousins Properties	11.8×	n/m	n/m	$4.8B
14	HIWHighwoods Properties	12.2×	20.1×	n/m	$3.4B
15	SLGSL Green Realty	12.3×	n/m	n/m	$3.6B
16	BFSSaul Centers	12.3×	30.3×	n/m	$725.4M
17	HHHHoward Hughes	13.9×	14.2×	n/m	$4.2B
18	GLPIGaming & Leisure Properties	14.1×	11.6×	n/m	$11.5B
19	KRGKite Realty Group Trust	14.3×	15.2×	n/m	$4.9B
20	PMTPennyMac Mortgage Investment Trust	14.4×	5.0×	n/m	$613.9M
21	LTCLTC Properties	14.5×	16.0×	n/m	$2.4B
22	SUISun Communities	15.3×	n/m	n/m	$14.6B
23	REGRegency Centers	15.9×	25.0×	n/m	$13.5B
24	GNLGlobal Net Lease	16.1×	n/m	n/m	$1.5B
25	CXWCoreCivic	16.9×	24.0×	n/m	$3B
26	DRHDiamondRock Hospitality	17.2×	19.1×	n/m	$2.8B
27	ESBAEmpire State Realty OP	17.4×	159×	n/m	$106.2M
28	OLPOne Liberty Properties	17.5×	14.2×	n/m	$487.8M
29	SELFGlobal Self Storage	18.0×	27.1×	n/m	$55.7M
30	OHIOmega Healthcare Investors	18.1×	16.7×	n/m	$14B
31	EPREPR Properties	18.4×	17.9×	n/m	$4.3B
32	XRNChiron Real Estate	18.4×	8.1×	n/m	$397.1M
33	CHCTCommunity Healthcare Trust	18.9×	19.4×	n/m	$372.5M
34	OUTOUTFRONT Media	20.0×	22.3×	n/m	$5.5B
35	AKRAcadia Realty Trust	20.1×	52.2×	n/m	$2.6B
36	BRXBrixmor Property	20.7×	20.0×	n/m	$8.6B
37	SBACSBA Communications	20.8×	19.9×	n/m	$19.6B
38	FCPTFour Corners Property Trust	21.2×	20.0×	n/m	$2.4B
39	CTOCTO Realty Growth	21.5×	14.5×	n/m	$741.5M
40	EPRTEssential Properties Realty Trust	21.5×	20.7×	n/m	$5.8B
41	PINEAlpine Income Property Trust	21.7×	35.1×	n/m	$289.9M
42	MPTMedical Properties Trust	21.8×	n/m	n/m	$1.6B
43	NNNNNN REIT	21.9×	20.5×	n/m	$8B
44	FRTFederal Realty Investment Trust	22.1×	22.0×	n/m	$9.4B
45	RHPRyman Hospitality Properties	22.1×	32.0×	n/m	$8.2B
46	APLEApple Hospitality REIT	22.3×	24.4×	n/m	$4.3B
47	WYWeyerhaeuser	22.3×	29.5×	n/m	$14B
48	HSTHost Hotels & Resorts	22.8×	16.6×	n/m	$16.9B
49	ESRTEmpire State Realty Trust	22.9×	n/m	n/m	$867.4M
50	HRHealthcare Realty Trust	22.9×	n/m	n/m	$6.2B
51	WPCW. P. Carey	23.2×	21.8×	n/m	$14.6B
52	FPIFarmland Partners	23.3×	20.5×	n/m	$447.2M
53	AMHAmerican Homes 4 Rent	23.3×	25.3×	n/m	$11.5B
54	VNOVornado Realty Trust	23.4×	n/m	n/m	$6.5B
55	CTRECareTrust REIT	23.7×	23.0×	n/m	$8.7B
56	BNLBroadstone Net Lease	24.3×	22.8×	n/m	$3.3B
57	CDPCopt Defense Properties	24.6×	23.6×	n/m	$3.8B
58	UDRUDR	24.8×	22.8×	n/m	$11.5B
59	SVCService Properties Trust	25.3×	n/m	n/m	$796.5M
60	LAMRLamar Advertising	26.0×	28.3×	n/m	$15.7B
61	UHTUniversal Health Realty Income Trust	26.0×	27.1×	n/m	$523.6M
62	STAGSTAG Industrial	26.5×	28.0×	n/m	$7B
63	AMTAmerican Tower	26.5×	26.0×	n/m	$88.1B
64	AHRAmerican Healthcare REIT	26.7×	78.0×	n/m	$11.6B
65	CCICrown Castle	27.1×	43.6×	n/m	$36.6B
66	RLJRLJ Lodging Trust	27.3×	n/m	n/m	$1.8B
67	PSTLPostal Realty Trust	28.2×	40.6×	n/m	$662.8M
68	AATAmerican Assets Trust	28.5×	73.7×	n/m	$1.3B
69	CSRCenterspace	28.9×	45.6×	n/m	$956.8M
70	CLDTChatham Lodging Trust	29.0×	175×	n/m	$653.3M
71	DOCHealthpeak Properties	29.8×	55.0×	n/m	$13.3B
72	KIMKimco Realty	30.5×	27.8×	n/m	$15.8B
73	MAAMID America Apartment Communities	31.6×	35.0×	n/m	$13.9B
74	ADCAgree Realty	32.7×	35.9×	n/m	$8.3B
75	ILPTIndustrial Logistics Properties Trust	33.0×	n/m	n/m	$470.6M
76	FRFirst Industrial Realty Trust	34.9×	19.9×	n/m	$7.2B
77	IRMIron Mountain	35.4×	78.5×	n/m	$32.7B
78	INNSummit Hotel Properties	36.7×	n/m	n/m	$744.2M
79	CUBECubeSmart	37.4×	27.7×	n/m	$9B
80	EGPEastgroup Properties	38.6×	34.9×	n/m	$10.7B
81	LANDGLADSTONE LAND	40.0×	n/m	n/m	$382.6M
82	VMRKVivmark Residential	40.5×	55.3×	n/m	$47.3B
83	SBRASabra Health Care REIT	41.6×	75.2×	n/m	$5B
84	BDNBrandywine Realty Trust	42.0×	n/m	n/m	$515M
85	DEIDouglas Emmett	42.6×	n/m	n/m	$1.7B
86	LXPLXP Industrial Trust	42.9×	61.1×	n/m	$3.6B
87	FVRFrontView REIT	43.1×	n/m	n/m	$433.8M
88	ORCOrchid Island Capital	43.2×	n/m	n/m	$974.6M
89	KRCKilroy Realty	44.5×	26.2×	n/m	$4.3B
90	NTSTNETSTREIT	45.3×	78.9×	n/m	$2.2B
91	IRTIndependence Realty Trust	47.7×	83.1×	n/m	$3.5B
92	SMASmartStop Self Storage REIT	47.9×	69.9×	n/m	$2B
93	PECOPhillips Edison	48.0×	34.6×	n/m	$4.9B
94	ARRArmour Residential REIT	49.4×	n/m	n/m	$1.9B
95	EQIXEquinix	49.7×	61.5×	n/m	$94.2B
96	CPTCamden Property Trust	51.5×	33.8×	n/m	$10.3B
97	SAFESafehold	53.3×	6.9×	n/m	$795.3M
98	UMHUMH Properties	63.8×	129×	n/m	$1.3B
99	PEBPebblebrook Hotel Trust	65.9×	n/m	n/m	$2.3B
100	TRTXTPG RE Finance Trust	67.1×	11.6×	n/m	$482.1M

The first 100 of 116.

Not ranked: 27 with a loss over the last year, 5 with not a meaningful number, 3 with a number that doesn't describe its kind of business, 2 with a value too high to mean anything. 11 companies whose data behind this number has a caveat are left out until it is checked.

A ranking of numbers, not a recommendation. A low multiple can be a bargain or a business in trouble: open the company to see which.