Sectors & IndustriesReal EstateREIT - Industrial

Best Industrial REIT Stocks to Buy Now (2024)

Top industrial reit stocks in 2024 ranked by overall Zen Score. See the best industrial reit stocks to buy now, according to analyst forecasts for the reit - industrial industry.

According to Zen Score, the 3 best industrial reit stocks to buy right now are:

Innovative Industrial Properties (NYSE:IIPR) is the top industrial reit stock with a Zen Score of 53, which is 25 points higher than the industrial reit industry average of 28. It passed 19 out of 38 due diligence checks and has strong fundamentals. Innovative Industrial Properties has seen its stock return 50.59% over the past year, overperforming other industrial reit stocks by 29 percentage points.

Innovative Industrial Properties has an average 1 year price target of $130.00, an upside of 0.65% from Innovative Industrial Properties's current stock price of $129.16.

Innovative Industrial Properties stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Innovative Industrial Properties, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Eastgroup Properties (NYSE:EGP) is the second best industrial reit stock with a Zen Score of 41, which is 13 points higher than the industrial reit industry average of 28. It passed 16 out of 38 due diligence checks and has strong fundamentals. Eastgroup Properties has seen its stock return 6.38% over the past year, underperforming other industrial reit stocks by -15 percentage points.

Eastgroup Properties has an average 1 year price target of $193.92, an upside of 3.43% from Eastgroup Properties's current stock price of $187.50.

Eastgroup Properties stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Eastgroup Properties, 23.08% have issued a Strong Buy rating, 30.77% have issued a Buy, 46.15% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Cubesmart (NYSE:CUBE) is the third best industrial reit stock with a Zen Score of 36, which is 8 points higher than the industrial reit industry average of 28. It passed 13 out of 38 due diligence checks and has average fundamentals. Cubesmart has seen its stock return 34.56% over the past year, overperforming other industrial reit stocks by 13 percentage points.

Cubesmart has an average 1 year price target of $51.67, a downside of -4.32% from Cubesmart's current stock price of $54.00.

Cubesmart stock has a consensus Hold recommendation according to Wall Street analysts. Of the 9 analysts covering Cubesmart, 0% have issued a Strong Buy rating, 33.33% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 14 industrial reit stocks that have issued dividends in the past year, the 3 industrial reit stocks with the highest dividend yields are:

Innovative Industrial Properties (NYSE:IIPR) has an annual dividend yield of 5.68%, which is 2 percentage points higher than the industrial reit industry average of 3.53%. Innovative Industrial Properties's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Innovative Industrial Properties's dividend has shown consistent growth over the last 10 years.

Innovative Industrial Properties's dividend payout ratio of 127.9% indicates that its high dividend yield might not be sustainable for the long-term.

Global Self Storage (NASDAQ:SELF) has an annual dividend yield of 5.6%, which is 2 percentage points higher than the industrial reit industry average of 3.53%. Global Self Storage's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Global Self Storage's dividend has shown consistent growth over the last 10 years.

Global Self Storage's dividend payout ratio of 161.1% indicates that its high dividend yield might not be sustainable for the long-term.

Lxp Industrial Trust (NYSE:LXP) has an annual dividend yield of 5.07%, which is 2 percentage points higher than the industrial reit industry average of 3.53%. Lxp Industrial Trust's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Lxp Industrial Trust's dividend has not shown consistent growth over the last 10 years.

Lxp Industrial Trust's dividend payout ratio of 643.8% indicates that its high dividend yield might not be sustainable for the long-term.

Industrial reit stocks were up 0.78% in the last day, and up 3.08% over the last week.

We couldn't find a catalyst for why industrial reit stocks are up.

Based on WallStreetZen's Valuation Score, the 3 most undervalued industrial reit stocks right now are:

Innovative Industrial Properties (NYSE:IIPR) is the most undervalued industrial reit stock based on WallStreetZen's Valuation Score. Innovative Industrial Properties has a valuation score of 43, which is 26 points higher than the industrial reit industry average of 17. It passed 3 out of 7 valuation due diligence checks.

Innovative Industrial Properties's stock has gained 50.59% in the past year. It has overperformed other stocks in the industrial reit industry by 29 percentage points.

Lineage (NASDAQ:LINE) is the second most undervalued industrial reit stock based on WallStreetZen's Valuation Score. Lineage has a valuation score of 29, which is 12 points higher than the industrial reit industry average of 17. It passed 2 out of 7 valuation due diligence checks.

Plymouth Industrial Reit (NYSE:PLYM) is the third most undervalued industrial reit stock based on WallStreetZen's Valuation Score. Plymouth Industrial Reit has a valuation score of 29, which is 12 points higher than the industrial reit industry average of 17. It passed 2 out of 7 valuation due diligence checks.

Plymouth Industrial Reit's stock has gained 4.67% in the past year. It has underperformed other stocks in the industrial reit industry by -17 percentage points.