Valyte Research
Multifamily REITs: valuation and quality comparison
Compare the valuation and operating quality of selected apartment REITs. Read discounts alongside same-store NOI growth, leverage, and the assumptions behind the estimate.
Ratings calculated . Financial data year: 2025. Reporting periods and price dates can differ by company.
This selected public sample contains 4 companies, with a median NAV discount of 22.15% across 4 available estimates. The median weights each company equally. It is not a statistic for the whole sector.
| Company | Score | Valuation | Quality | NAV discount | NOI growth | Leverage |
|---|---|---|---|---|---|---|
| UDR UDR | 75 / 100 strong | 84 | 63 | 27.30% | 1.20% | 27.20% |
| CPT Camden Property Trust | 59 / 100 neutral | 59 | 60 | 23.40% | -0.50% | 21.00% |
| IRT Independence Realty Trust | 58 / 100 neutral | 51 | 66 | 20.90% | 1.70% | 34.60% |
| ESS Essex Property Trust | 49 / 100 neutral | 32 | 70 | 5.70% | 3.20% | 29.00% |
How to read this comparison
Compare valuation and quality together. A high valuation score can coexist with weak operating quality. A lower NAV discount may reflect different assets, financing, or assumptions rather than an inferior opportunity.
Reporting periods can differ across these companies. The company pages list available periods and price dates; compare equivalent periods and definitions before drawing conclusions about sector trends.