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 51, which is 25 points higher than the industrial reit industry average of 26. It passed 18 out of 38 due diligence checks and has strong fundamentals. Innovative Industrial Properties has seen its stock return 57.55% over the past year, overperforming other industrial reit stocks by 53 percentage points.

Innovative Industrial Properties has an average 1 year price target of $101.50, a downside of -7.91% from Innovative Industrial Properties's current stock price of $110.22.

Innovative Industrial Properties stock has a consensus Hold recommendation according to Wall Street analysts. Of the 2 analysts covering Innovative Industrial Properties, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Cubesmart (NYSE:CUBE) is the second best industrial reit stock with a Zen Score of 48, which is 22 points higher than the industrial reit industry average of 26. It passed 17 out of 38 due diligence checks and has strong fundamentals. Cubesmart has seen its stock lose -7.18% over the past year, underperforming other industrial reit stocks by -12 percentage points.

Cubesmart has an average 1 year price target of $46.88, an upside of 10.16% from Cubesmart's current stock price of $42.55.

Cubesmart stock has a consensus Hold recommendation according to Wall Street analysts. Of the 8 analysts covering Cubesmart, 12.5% have issued a Strong Buy rating, 25% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 12.5% have issued a Strong Sell.

Eastgroup Properties (NYSE:EGP) is the third best industrial reit stock with a Zen Score of 44, which is 18 points higher than the industrial reit industry average of 26. It passed 17 out of 38 due diligence checks and has strong fundamentals. Eastgroup Properties has seen its stock lose -0.75% over the past year, underperforming other industrial reit stocks by -5 percentage points.

Eastgroup Properties has an average 1 year price target of $182.40, an upside of 10.54% from Eastgroup Properties's current stock price of $165.01.

Eastgroup Properties stock has a consensus Buy recommendation according to Wall Street analysts. Of the 10 analysts covering Eastgroup Properties, 20% have issued a Strong Buy rating, 20% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 13 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 6.57%, which is the same as the industrial reit industry average of 6.59%. 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 126.1% indicates that its high dividend yield might not be sustainable for the long-term.

National Storage Affiliates Trust (NYSE:NSA) has an annual dividend yield of 6.02%, which is -1 percentage points lower than the industrial reit industry average of 6.59%. National Storage Affiliates Trust's dividend payout is stable, having never dropped by more than 10% in the last 10 years. National Storage Affiliates Trust's dividend has shown consistent growth over the last 10 years.

National Storage Affiliates Trust's dividend payout ratio of 113.1% 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 5.63%, which is -1 percentage points lower than the industrial reit industry average of 6.59%. 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.

Industrial reit stocks were up 0.37% in the last day, and up 1.63% 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 57, which is 36 points higher than the industrial reit industry average of 21. It passed 4 out of 7 valuation due diligence checks.

Innovative Industrial Properties's stock has gained 57.55% in the past year. It has overperformed other stocks in the industrial reit industry by 53 percentage points.

Terreno Realty (NYSE:TRNO) is the second most undervalued industrial reit stock based on WallStreetZen's Valuation Score. Terreno Realty has a valuation score of 43, which is 22 points higher than the industrial reit industry average of 21. It passed 3 out of 7 valuation due diligence checks.

Terreno Realty's stock has dropped -10.75% in the past year. It has underperformed other stocks in the industrial reit industry by -15 percentage points.

National Storage Affiliates Trust (NYSE:NSA) is the third most undervalued industrial reit stock based on WallStreetZen's Valuation Score. National Storage Affiliates Trust has a valuation score of 43, which is 22 points higher than the industrial reit industry average of 21. It passed 3 out of 7 valuation due diligence checks.

National Storage Affiliates Trust's stock has dropped -2.36% in the past year. It has underperformed other stocks in the industrial reit industry by -7 percentage points.