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3 Affordable & Diverse Top-Rated REITs to Buy Now

Volatility in the broader financial sector has affected many Real Estate Investment Trusts (REITs) with many of these stocks selling off mightily over the last few weeks.

However, investors may be looking for opportunities among these equities as REITs can offer lucrative dividends along with valuable exposure to real estate.

Here are 3 Zacks Rank #1 (Strong Buy) REIT stocks that investors may want to consider as they appear to be trading at a discount.

Alexander & Baldwin Holdings (ALEX)

First up is Alexander & Baldwin Holdings which owns, operates, and manages retail, industrial, and office space primarily in Hawaii and on the U.S. mainland. In addition to this Alexander & Baldwin also owns grocery/drug-anchored retail centers.

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Shares of ALEX currently trade at $17 per share and 16.6X forward earnings which is slightly above the industry average of 10.4X. However, Alexander & Baldwin stock trades 84% below its decade high of 108.3X and at a 46% discount to the median of 31.1X.

Even better, earnings estimate revisions have gone up over the last 30 days. Fiscal 2023 earnings estimates have gone up 6% with FY24 EPS estimates rising 10%. Alexander & Baldwin’s 5.44% dividend yield is slightly above its industry average and rewards investors as the broader financial sector looks to stabilize.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Arbor Realty Trust (ABR)

Another REIT investors may want to consider at the moment is Arbor Realty Trust, a specialized real estate finance company that invests in real estate-related bridge and mezzanine loans, preferred equity, and mortgage-related securities among other real estate assets.

Arbor Realty’s stock trades around $11 per share and 5.7X forward earnings which is slightly below the industry average of 6.4X. Plus, shares of ABR trade 67% below its decade high of 17.5X and at a 46% discount to the median of 10.6X.

Arbor Realty’s fiscal 2023 EPS estimates have gone up 6% over the last 30 days and are now expected at $1.90 per share. This supports the stock being undervalued from a P/E perspective. Even better, the 14.76% dividend yield at $1.60 per share is slightly above the industry average and should be very rewarding to investors at ABR’s current levels.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Invesco Mortgage Capital (IVR)

Rounding out the list is Invesco Mortgage Capital which focuses on financing and managing residential and commercial-backed securities and mortgage loans.

Invesco’s stock sticks out at $10 per share and fiscal 2023 earnings estimate revisions have soared 22% in the last month. Earnings are now expected to be at $3.54 per share in FY23 compared to estimates of $2.89 thirty days ago.

This certainly makes shares of IVR look undervalued trading at just 2.9X forward earnings and nicely below the industry average of 6.4X. Furthermore, Invesco stock trades 96% below its decade-long high of 55X and 63% beneath the median of 8.1X.

On top of that, IVR’s dividend yield is a very appealing 24.81% at the moment and well above an already high industry average of 13.62%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Takeaway

These three REITs are diverse in their offerings and appear to be undervalued at their current levels with the rising earnings estimate revisions supporting this. More upside could certainly be in the cards for these stocks when volatility in the broader financial sector subsidies and their stellar dividend yields give investors another reason to buy.  

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

INVESCO MORTGAGE CAPITAL INC (IVR) : Free Stock Analysis Report

Alexander & Baldwin Holdings, Inc. (ALEX) : Free Stock Analysis Report

Arbor Realty Trust (ABR) : Free Stock Analysis Report

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Zacks Investment Research