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REITs ended March at an average 15% discount to consensus estimates on net asset value per share, unchanged from the previous month, data from S&P Global Market Intelligence showed.
Office REITs led the pack, having finished the month with larger discount to NAV estimates across subsectors. A total of four office REITs were among the top 10 real estate investment trusts trading at the deepest discounts, the report said.
Diversified, agricultural and hospitality subsectors followed.
According to the report, Industrial Logistics Properties Trust (ILPT) continued to trade at a maximum discount, with shares trading at a 67.6% discount to the consensus NAV estimate of $13.26.
The industrial REIT closed at $4.29 on March 28.
BRT Apartments (BRT), Diversified Healthcare Trust (DHC) and Peakstone Realty Trust (PKST) were the other notable names on the list.