Real Estate stocks: intrinsic value, ROIC & growth
49 U.S. real estate companies with at least three years of SEC filings, ranked by size. 12 of the 24 with a current price trade below their Graham intrinsic value. The median company earned a 4.5% average return on invested capital and grew revenue 6.4% a year.
Updated October 18, 2026
49companies
12below Graham value
4.5%median 10-yr ROIC
6.4%median revenue CAGR
Most undervalued real estate stocks
| Ticker | Company | Upside | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| FOR | Forestar Group Inc. | +218% | $25.67 | $81.63 | 69% below | $1.3B | 10.5% | 25.7% |
| IIPR | INNOVATIVE INDUSTRIAL PROPERTIES INC | +149% | $52.39 | $130.54 | 60% below | $1.5B | 6.3% | 59.3% |
| TRNO | Terreno Realty Corp | +103% | $64.06 | $129.87 | 51% below | $6.6B | 4.5% | 17.9% |
| JLL | JONES LANG LASALLE INC | +32% | $305.51 | $402.12 | 24% below | $14.8B | 11.0% | 16.1% |
| INVH | Invitation Homes | +18% | $27.07 | $31.89 | 15% below | $16.6B | 1.0% | 58.0% |
Highest-ROIC real estate stocks
| Ticker | Company | 10-yr ROIC | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| COMP | Compass, Inc. | 80.0% | $9.13 | — | — | $5.1B | 80.0% | 19.5% |
| MMI | Marcus & Millichap, Inc. | 15.6% | $28.04 | $21.54 | 30% above | $1.1B | 15.6% | 0.6% |
| NMRK | NEWMARK GROUP, INC. | 15.3% | $11.86 | $1.76 | 574% above | $3.0B | 15.3% | 8.3% |
| CBRE | CBRE Group | 12.4% | $133.08 | $81.38 | 64% above | $40.0B | 12.4% | 10.1% |
| JLL | JONES LANG LASALLE INC | 11.0% | $305.51 | $402.12 | 24% below | $14.8B | 11.0% | 16.1% |
| FOR | Forestar Group Inc. | 10.5% | $25.67 | $81.63 | 69% below | $1.3B | 10.5% | 25.7% |
| KW | Kennedy-Wilson Holdings, Inc. | 7.0% | — | $0.61 | — | — | 7.0% | -3.5% |
| IIPR | INNOVATIVE INDUSTRIAL PROPERTIES INC | 6.3% | $52.39 | $130.54 | 60% below | $1.5B | 6.3% | 59.3% |
| UE | Urban Edge Properties | 6.0% | $19.50 | $2.53 | 671% above | $2.5B | 6.0% | 4.2% |
| GTY | GETTY REALTY CORP /MD/ | 5.1% | $28.38 | $14.79 | 92% above | $1.6B | 5.1% | 7.5% |
All real estate stocks
| Ticker | Company | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|
| CBRE | CBRE Group | $133.08 | $81.38 | 64% above | $40.0B | 12.4% | 10.1% |
| INVH | Invitation Homes | $27.07 | $31.89 | 15% below | $16.6B | 1.0% | 58.0% |
| JLL | JONES LANG LASALLE INC | $305.51 | $402.12 | 24% below | $14.8B | 11.0% | 16.1% |
| TRNO | Terreno Realty Corp | $64.06 | $129.87 | 51% below | $6.6B | 4.5% | 17.9% |
| COMP | Compass, Inc. | $9.13 | — | — | $5.1B | 80.0% | 19.5% |
| VAC | MARRIOTT VACATIONS WORLDWIDE Corp | $110.93 | $118.58 | 6% below | $3.9B | 5.1% | 10.7% |
| MRP | Millrose Properties, Inc. | $22.50 | — | — | $3.7B | -0.6% | — |
| NMRK | NEWMARK GROUP, INC. | $11.86 | $1.76 | 574% above | $3.0B | 15.3% | 8.3% |
| CURB | Curbline Properties Corp. | $26.52 | $11.63 | 128% above | $2.8B | 3.0% | 35.7% |
| CWK | Cushman & Wakefield Ltd. | $11.30 | — | — | $2.7B | -1.2% | 5.8% |
| UE | Urban Edge Properties | $19.50 | $2.53 | 671% above | $2.5B | 6.0% | 4.2% |
| OPEN | Opendoor Technologies Inc. | $2.12 | — | — | $1.6B | 257.2% | 13.2% |
| GTY | GETTY REALTY CORP /MD/ | $28.38 | $14.79 | 92% above | $1.6B | 5.1% | 7.5% |
| IIPR | INNOVATIVE INDUSTRIAL PROPERTIES INC | $52.39 | $130.54 | 60% below | $1.5B | 6.3% | 59.3% |
| FOR | Forestar Group Inc. | $25.67 | $81.63 | 69% below | $1.3B | 10.5% | 25.7% |
| MMI | Marcus & Millichap, Inc. | $28.04 | $21.54 | 30% above | $1.1B | 15.6% | 0.6% |
| KW | Kennedy-Wilson Holdings, Inc. | — | $0.61 | — | — | 7.0% | -3.5% |
| SKYH | Sky Harbour Group Corp | $9.10 | $2.99 | 204% above | $707.7M | -9.5% | 104.4% |
| AGNT | eXp World Holdings, Inc. | $3.83 | $3.32 | 15% above | $600.8M | -1273.4% | 64.5% |
| RMAX | RE/MAX Holdings, Inc. | — | — | — | — | 4.0% | 5.8% |
| AHRT | AH Realty Trust, Inc. | $5.97 | $3.14 | 90% above | $478.3M | 4.3% | 1.1% |
| HPP | Hudson Pacific Properties, Inc. | $10.30 | $0.50 | 1960% above | $460.2M | -3.1% | 3.0% |
| BOC | BOSTON OMAHA Corp | $12.54 | $7.97 | 57% above | $393.9M | -2.7% | 45.8% |
| FRPH | FRP HOLDINGS, INC. | $19.24 | $3.80 | 406% above | $365.8M | 1.7% | 1.5% |
| MLP | MAUI LAND & PINEAPPLE CO INC | $14.70 | — | — | $285.9M | 11.7% | -9.4% |
| ARL | AMERICAN REALTY INVESTORS INC | $16.56 | — | — | $267.5M | -0.6% | -9.2% |
| FPH | Five Point Holdings, LLC | $4.35 | — | — | — | 1.0% | 11.9% |
| CHCI | Comstock Holding Companies, Inc. | $16.81 | $54.09 | 69% below | $176.0M | 13.9% | 5.0% |
| CMTG | Claros Mortgage Trust, Inc. | $1.18 | — | — | $165.4M | 1.1% | -4.6% |
| OZ | Belpointe PREP, LLC | $35.75 | — | — | $133.6M | — | 74.2% |
| DOUG | Douglas Elliman Inc. | $1.48 | $3.45 | 57% below | $125.2M | 3.9% | 4.7% |
| SRG | Seritage Growth Properties | $1.62 | $99.82 | 98% below | $91.2M | -12.4% | -48.8% |
| OPAD | Offerpad Solutions Inc. | $2.62 | — | — | $81.2M | -122.8% | -10.1% |
| AIRE | reAlpha Tech Corp. | $0.98 | — | — | $75.2M | -167.4% | 228.2% |
| BEEP | Mobile Infrastructure Corp | $2.58 | — | — | — | 4.7% | 6.4% |
| AEI | Alset Inc. | $0.63 | $77.80 | 99% below | $13.4M | -22.0% | -24.6% |
| LHAI | Linkhome Holdings Inc. | $0.85 | $1.66 | 49% below | $12.9M | 450.7% | 343.1% |
| FTHM | Fathom Holdings Inc. | $0.19 | — | — | $5.3M | -15.0% | 24.8% |
| MYCB | My City Builders, Inc. | $0.11 | — | — | $1.6M | 101.5% | 20.6% |
| CWD | CaliberCos Inc. | $0.41 | — | — | $1.2M | 1282.1% | -43.4% |
| CLBZ | Collab Z Inc. | — | — | — | — | 59.1% | -29.8% |
| CSUI | CANNABIS SUISSE CORP. | $0.01 | — | — | $400.2K | -247.8% | 5.9% |
| AOXY | ADVANCED OXYGEN TECHNOLOGIES INC | $0.08 | $0.22 | 64% below | $251.0K | 1.5% | 2.0% |
| WNHK | Winning Catering Group, Inc. | — | — | — | — | 1449.3% | -35.0% |
| LRHC | La Rosa Holdings Corp. | $0.76 | — | — | $7.0K | 169.8% | 37.8% |
| GGBY | Alpha Investment Inc. | — | — | — | — | 28.3% | -8.7% |
| GLEI | Galaxy Enterprises Inc. /WY/ | — | — | — | — | -424.9% | — |
| HLLK | HALLMARK VENTURE GROUP, INC. | — | — | — | — | 16.3% | — |
| WBQNL | Woodbridge Liquidation Trust | $1.90 | — | — | — | — | — |
Industries in real estate
Stock lists
Undervalued Stocks Below Graham Intrinsic Value
Highest ROIC Stocks (10-Year Average)
Highest Free Cash Flow Yield Stocks
Fastest-Growing Stocks by 10-Year Revenue