Sectors & IndustriesReal Estate

Best Real Estate Stocks to Buy Now (2024)

Top real estate stocks in 2024 ranked by overall Zen Score. See the best real estate stocks to buy now, according to analyst forecasts for the real estate sector.

According to Zen Score, the 3 best real estate stocks to buy right now are:

Host Hotels & Resorts (NASDAQ:HST) is the top real estate stock with a Zen Score of 58, which is 33 points higher than the real estate sector average of 25. It passed 21 out of 38 due diligence checks and has strong fundamentals. Host Hotels & Resorts has seen its stock return 13.44% over the past year, overperforming other real estate stocks by 18 percentage points.

Host Hotels & Resorts has an average 1 year price target of $22.50, an upside of 20.06% from Host Hotels & Resorts's current stock price of $18.74.

Host Hotels & Resorts stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 10 analysts covering Host Hotels & Resorts, 60% have issued a Strong Buy rating, 20% have issued a Buy, 20% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Innovative Industrial Properties (NYSE:IIPR) is the second best real estate stock with a Zen Score of 51, which is 26 points higher than the real estate sector average of 25. It passed 18 out of 38 due diligence checks and has strong fundamentals. Innovative Industrial Properties has seen its stock return 29.42% over the past year, overperforming other real estate stocks by 34 percentage points.

Innovative Industrial Properties has an average 1 year price target of $101.50, an upside of 8.42% from Innovative Industrial Properties's current stock price of $93.62.

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.

Comstock Holding Companies (NASDAQ:CHCI) is the third best real estate stock with a Zen Score of 51, which is 26 points higher than the real estate sector average of 25. It passed 16 out of 33 due diligence checks and has strong fundamentals. Comstock Holding Companies has seen its stock return 50.44% over the past year, overperforming other real estate stocks by 55 percentage points.

Out of 170 real estate stocks that have issued dividends in the past year, the 3 real estate stocks with the highest dividend yields are:

Office Properties Income Trust (NASDAQ:OPI) has an annual dividend yield of 40.21%, which is 33 percentage points higher than the real estate sector average of 7.14%. Office Properties Income Trust's dividend payout is not stable, having dropped more than 10% four times in the last 10 years. Office Properties Income Trust's dividend has not shown consistent growth over the last 10 years.

Office Properties Income Trust's dividend payout ratio of -52.8% indicates that its high dividend yield might not be sustainable for the long-term.

Armour Residential Reit (NYSE:ARR) has an annual dividend yield of 23.76%, which is 17 percentage points higher than the real estate sector average of 7.14%. Armour Residential Reit's dividend payout is not stable, having dropped more than 10% eight times in the last 10 years. Armour Residential Reit's dividend has not shown consistent growth over the last 10 years.

Armour Residential Reit's dividend payout ratio of -232.3% indicates that its high dividend yield might not be sustainable for the long-term.

Irsa Investments & Representations (NYSE:IRS) has an annual dividend yield of 22.94%, which is 16 percentage points higher than the real estate sector average of 7.14%. Irsa Investments & Representations's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Irsa Investments & Representations's dividend has shown consistent growth over the last 10 years.

Irsa Investments & Representations's dividend payout ratio of 63.3% indicates that its high dividend yield is sustainable for the long-term.

Real estate stocks were down -0.43% in the last day, and down -4.18% over the last week. Prologis was the among the top losers in the real estate sector, dropping -7.19% yesterday.

Prologis shares are trading lower following worse-than-expected Q1 financial results. The company also cut its 2024 core FFO outlook.

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

Newmark Group (NASDAQ:NMRK) is the most undervalued real estate stock based on WallStreetZen's Valuation Score. Newmark Group has a valuation score of 86, which is 59 points higher than the real estate sector average of 27. It passed 6 out of 7 valuation due diligence checks.

Newmark Group's stock has gained 44.97% in the past year. It has overperformed other stocks in the real estate sector by 49 percentage points.

Getty Realty (NYSE:GTY) is the second most undervalued real estate stock based on WallStreetZen's Valuation Score. Getty Realty has a valuation score of 71, which is 44 points higher than the real estate sector average of 27. It passed 5 out of 7 valuation due diligence checks.

Getty Realty's stock has dropped -22.58% in the past year. It has underperformed other stocks in the real estate sector by -18 percentage points.

Innovative Industrial Properties (NYSE:IIPR) is the third most undervalued real estate stock based on WallStreetZen's Valuation Score. Innovative Industrial Properties has a valuation score of 71, which is 44 points higher than the real estate sector average of 27. It passed 5 out of 7 valuation due diligence checks.

Innovative Industrial Properties's stock has gained 29.42% in the past year. It has overperformed other stocks in the real estate sector by 34 percentage points.