Specialty REITs with the lowest price to sales ratio

Ranked

129

of 164 specialty REITs we cover

Median

3.6×

Lowest

0.0×

WHLR

Range

0.0× to 15.1×

#	Company	P/S	Net margin	Revenue growth (TTM)	Market cap
1	WHLRWheeler Real Estate Investment Trust	0.0×	17.8%	−7.2%	$19.2K
2	AHTAshford Hospitality Trust	0.0×	−6.1%	−5.8%	$18.2M
3	SQFTPresidio Property Trust	0.1×	−54.3%	−11.9%	$1.1M
4	GIPRGeneration Income Properties	0.1×	−69.4%	−6.7%	$679.4K
5	ESBAEmpire State Realty OP	0.1×	1.2%	+2.0%	$106.2M
6	BHRBraemar Hotels & Resorts	0.1×	−0.5%	−3.8%	$96.8M
7	MKZRMacKenzie Realty Capital	0.2×	−87.7%	−9.3%	$3.2M
8	CLPRClipper Realty	0.3×	−8.4%	−1.7%	$49.6M
9	BHMBluerock Homes Trust	0.4×	−2.8%	+24.8%	$32.9M
10	FSPFranklin Street Properties	0.4×	−39.4%	−5.3%	$46.9M
11	SVCService Properties Trust	0.5×	−25.4%	−11.9%	$796.5M
12	PWPower REIT	0.8×	−55.9%	−6.7%	$2.3M
13	ONLOrion Properties	0.9×	−65.7%	−6.5%	$124.9M
14	INNSummit Hotel Properties	1.0×	−3.3%	+1.2%	$744.2M
15	RITMRithm Capital	1.0×	9.0%	−23.9%	$5.2B
16	BDNBrandywine Realty Trust	1.0×	−28.6%	+0.5%	$515M
17	ACRACRES Commercial Realty	1.0×	17.5%	−3.4%	$83.4M
18	ESRTEmpire State Realty Trust	1.1×	1.2%	+2.0%	$867.4M
19	STRWStrawberry Fields REIT	1.1×	5.3%	+18.3%	$179.4M
20	ABRArbor Realty Trust	1.1×	12.0%	−16.4%	$544.7M
21	CXWCoreCivic	1.2×	5.1%	+24.3%	$3B
22	RLJRLJ Lodging Trust	1.3×	2.0%	+1.1%	$1.8B
23	LINELineage	1.5×	−3.1%	+1.0%	$8.1B
24	PEBPebblebrook Hotel Trust	1.5×	−3.1%	+2.1%	$2.3B
25	COLDAmericold Realty Trust	1.6×	−17.4%	−0.2%	$4.1B
26	MPTMedical Properties Trust	1.6×	−3.0%	+10.6%	$1.6B
27	MDRRMedalist Diversified	1.6×	80.2%	−0.7%	$15.4M
28	IHTInnsuites Hospitality Trust	1.6×	−15.3%	+1.7%	$12.5M
29	DEIDouglas Emmett	1.7×	−2.3%	+0.8%	$1.7B
30	FBRTFranklin BSP Realty Trust	1.7×	20.5%	+42.5%	$518.2M
31	JBGSJBG SMITH Properties	1.7×	−29.9%	−1.1%	$863.3M
32	PMTPennyMac Mortgage Investment Trust	1.8×	47.8%	+14.6%	$613.9M
33	HHHHoward Hughes	1.8×	12.3%	+34.0%	$4.2B
34	NLOPNet Lease Office Properties	1.9×	−59.8%	−35.4%	$142.5M
35	NXRTNexPoint Residential Trust	1.9×	−13.2%	−0.5%	$479.3M
36	SAFESafehold	1.9×	27.7%	+12.1%	$795.3M
37	WYWeyerhaeuser	2.1×	6.9%	−2.6%	$14B
38	CLDTChatham Lodging Trust	2.2×	4.0%	−3.1%	$653.3M
39	STWDStarwood Property Trust	2.3×	11.4%	+11.8%	$4.7B
40	BFSSaul Centers	2.4×	11.5%	+8.7%	$725.4M
41	DRHDiamondRock Hospitality	2.5×	13.5%	+1.0%	$2.8B
42	BRTBRT Apartments	2.5×	−13.2%	+1.2%	$248.8M
43	XRNChiron Real Estate	2.6×	37.8%	+8.0%	$397.1M
44	CBLCBL & Associates Properties	2.6×	37.0%	+9.0%	$1.5B
45	AREAlexandria Real Estate Equities	2.6×	−36.1%	−8.4%	$7.5B
46	HSTHost Hotels & Resorts	2.7×	16.5%	+4.9%	$16.9B
47	SITCSITE Centers	2.8×	n/m	−58.6%	$196.3M
48	BXPBXP	2.8×	8.4%	+1.9%	$9.9B
49	OUTOUTFRONT Media	2.8×	12.7%	+7.6%	$5.5B
50	CHMICherry Hill Mortgage Investment	2.9×	49.7%	+124.5%	$94.6M
51	APLEApple Hospitality REIT	3.0×	12.2%	+1.2%	$4.3B
52	AATAmerican Assets Trust	3.0×	5.4%	−2.9%	$1.3B
53	CHCTCommunity Healthcare Trust	3.0×	16.8%	+5.7%	$372.5M
54	RHPRyman Hospitality Properties	3.0×	9.9%	+12.2%	$8.2B
55	DEAEasterly Government Properties	3.0×	2.9%	+13.0%	$1.1B
56	NHPNational Healthcare Properties	3.3×	−13.0%	−1.2%	$1.1B
57	GNLGlobal Net Lease	3.3×	−2.9%	−13.9%	$1.5B
58	NXDTNexpoint Diversified Real Estate Trust	3.3×	−94.2%	−20.5%	$259.7M
59	TRTXTPG RE Finance Trust	3.3×	40.2%	−2.6%	$482.1M
60	ACREAres Commercial Real Estate	3.4×	−8.0%	−10.6%	$185.9M
61	SLGSL Green Realty	3.4×	−16.9%	+8.5%	$3.6B
62	ARIApollo Commercial Real Estate Finance	3.5×	55.5%	−14.7%	$823.1M
63	SUNSSunrise Realty Trust	3.5×	53.3%	+44.3%	$85.8M
64	VNOVornado Realty Trust	3.6×	3.7%	+1.4%	$6.5B
65	CSRCenterspace	3.6×	7.2%	+0.7%	$956.8M
66	PINEAlpine Income Property Trust	3.8×	16.5%	+31.9%	$289.9M
67	KRCKilroy Realty	4.0×	1.7%	−3.6%	$4.3B
68	HIWHighwoods Properties	4.0×	20.8%	+3.0%	$3.4B
69	LANDGLADSTONE LAND	4.3×	−7.3%	+21.6%	$382.6M
70	IRMIron Mountain	4.3×	5.5%	+17.4%	$32.7B
71	SELFGlobal Self Storage	4.4×	16.6%	+0.5%	$55.7M
72	DOCHealthpeak Properties	4.5×	8.2%	+5.5%	$13.3B
73	SEVNSeven Hills Realty Trust	4.5×	38.0%	−2.1%	$140.4M
74	CUZCousins Properties	4.6×	0.6%	+11.9%	$4.8B
75	CTOCTO Realty Growth	4.6×	32.6%	+14.3%	$741.5M
76	LOANManhattan Bridge Capital	4.8×	58.6%	−9.5%	$39.5M
77	UMHUMH Properties	4.9×	11.5%	+8.4%	$1.3B
78	CDPCopt Defense Properties	4.9×	20.9%	+4.5%	$3.8B
79	AHRAmerican Healthcare REIT	4.9×	5.2%	+19.0%	$11.6B
80	UHTUniversal Health Realty Income Trust	5.3×	19.4%	+0.8%	$523.6M
81	IRTIndependence Realty Trust	5.3×	6.5%	+3.5%	$3.5B
82	HRHealthcare Realty Trust	5.4×	−7.6%	−6.3%	$6.2B
83	RYNRayonier	5.7×	7.8%	+0.4%	$5.5B
84	EPREPR Properties	5.8×	35.5%	+4.5%	$4.3B
85	SBRASabra Health Care REIT	5.8×	7.6%	+17.3%	$5B
86	ALXAlexanders	5.9×	79.1%	−1.5%	$1.3B
87	AMHAmerican Homes 4 Rent	6.1×	25.5%	+4.3%	$11.5B
88	KRGKite Realty Group Trust	6.1×	41.8%	−5.6%	$4.9B
89	BRXBrixmor Property	6.2×	30.8%	+5.8%	$8.6B
90	FVRFrontView REIT	6.2×	2.1%	n/m	$433.8M
91	MAAMID America Apartment Communities	6.3×	18.2%	+0.8%	$13.9B
92	PSTLPostal Realty Trust	6.3×	16.4%	+22.0%	$662.8M
93	SMASmartStop Self Storage REIT	6.4×	9.4%	+21.1%	$2B
94	PECOPhillips Edison	6.6×	19.1%	+8.1%	$4.9B
95	SUISun Communities	6.6×	−39.0%	+2.0%	$14.6B
96	UDRUDR	6.7×	30.4%	+1.5%	$11.5B
97	LAMRLamar Advertising	6.8×	23.9%	+4.4%	$15.7B
98	LTCLTC Properties	6.8×	38.9%	+59.8%	$2.4B
99	MACMacerich	6.8×	−16.8%	+1.3%	$6.8B
100	SBACSBA Communications	6.8×	34.5%	+5.4%	$19.6B

The first 100 of 129.

Not ranked: 17 with a quarter missing, 8 with not a meaningful number, 1 with a value too high to mean anything. 9 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.