Stocks priced for less growth than they delivered: Real Estate
Companies worth over $1 billion whose price implies free cash flow growth at least 3 points a year below what they delivered over the years on file. Ranked by the size of that gap. A one-off cash flow year can distort both numbers, so check each company's history.
Top of the list: American Healthcare REIT (AHR) -39.3%; Opendoor Technologies (OPEN) -38.8%; St Joe (JOE) -34.5%.
The median priced in minus delivered across these 32 companies is -13.3%.
| # | Company | Priced in minus delivered | Growth priced in | FCF growth delivered | P/FCF | Market cap |
|---|---|---|---|---|---|---|
| 1 | American Healthcare REIT, Inc.AHR | -39.3% | +11.1% | +50.3% | 56.4x | $9.4B |
| 2 | Opendoor Technologies IncOPEN | -38.8% | -29.5% | +9.3% | 1.98x | $2.1B |
| 3 | St Joe CompanyJOE | -34.5% | +4.9% | +39.4% | 19.8x | $3.7B |
| 4 | Sun Communities IncSUI | -28.9% | +12.4% | +41.4% | 17.1x | $14.8B |
| 5 | Realty Income CorporationO | -20.0% | -0.7% | +19.4% | 12.8x | $51.0B |
| 6 | IHS Holding LtdIHS | -19.6% | -17.6% | +2.0% | 6.81x | $2.8B |
| 7 | Invitation Homes IncINVH | -19.3% | -0.6% | +18.7% | 16.6x | $16.0B |
| 8 | Howard Hughes Holdings Inc.HHH | -17.8% | -3.8% | +14.0% | 10.0x | $4.4B |
| 9 | Crown CastleCCI | -17.6% | -4.0% | +13.6% | 11.7x | $33.6B |
| 10 | Broadstone Net Lease IncBNL | -17.1% | -0.1% | +17.1% | 13.6x | $3.7B |
| 11 | Corporación Inmobiliaria Vesta, S.A.B de C.V.VTMX | -16.4% | +1.3% | +17.7% | 19.3x | $3.1B |
| 12 | CareTrust REIT Inc.CTRE | -15.8% | +6.0% | +21.8% | 21.8x | $8.3B |
| 13 | Kite Realty Group TrustKRG | -15.1% | +3.3% | +18.4% | 17.7x | $4.9B |
| 14 | Getty Realty CorporationGTY | -14.9% | -0.1% | +14.8% | 13.7x | $1.7B |
| 15 | Kilroy Realty CorpKRC | -13.8% | -6.2% | +7.6% | — | $3.9B |
| 16 | Cushman & Wakefield plcCWK | -13.6% | -6.0% | +7.6% | 8.88x | $2.6B |
| 17 | American Homes 4 RentAMH | -13.1% | +1.7% | +14.7% | 17.1x | $12.8B |
| 18 | Rexford Industrial Realty IncREXR | -13.0% | +13.9% | +26.9% | 40.1x | $8.4B |
| 19 | Urban Edge PropertiesUE | -12.8% | +11.1% | +23.9% | 14.3x | $2.6B |
| 20 | FirstService CorpFSV | -12.5% | +4.1% | +16.6% | 18.8x | $6.1B |
| 21 | EPR PropertiesEPR | -12.0% | +1.5% | +13.5% | 9.91x | $4.2B |
| 22 | Kimco Realty CorporationKIM | -10.6% | -0.1% | +10.5% | 19.6x | $15.1B |
| 23 | Independence Realty Trust IncIRT | -10.0% | +7.6% | +17.6% | 25.0x | $3.7B |
| 24 | Uniti Group IncUNIT | -9.0% | -12.6% | -3.6% | — | $1.6B |
| 25 | Mid-America Apartment Communities IncMAA | -7.8% | +4.2% | +12.0% | 19.3x | $13.9B |
| 26 | EastGroup Properties IncEGP | -6.8% | +8.2% | +15.0% | 26.2x | $10.6B |
| 27 | Boston Properties IncBXP | -5.5% | -3.8% | +1.7% | 15.3x | $10.5B |
| 28 | Colliers International Group Inc BatsCIGI | -5.0% | +2.5% | +7.5% | 18.1x | $4.2B |
| 29 | COPT Defense PropertiesCDP | -4.0% | -0.3% | +3.7% | 15.3x | $3.9B |
| 30 | Public StoragePSA | -3.8% | +2.0% | +5.9% | 17.6x | $51.1B |
| 31 | SBA Communications CorpSBAC | -3.7% | +2.8% | +6.5% | 18.1x | $19.3B |
| 32 | Host Hotels & Resorts IncHST | -3.2% | -1.0% | +2.2% | 18.5x | $15.9B |
Ranked from each company's latest price and reported results. Companies need a page on Investingly (SEC statements on file). Open any company for its reverse DCF, insider buying and 13F holders.
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Questions
Which company ranks first on the stocks priced for less growth than they delivered: real estate list?
American Healthcare REIT (AHR), with a priced in minus delivered of -39.3%, as of October 12, 2026.
How is this list built?
Companies worth over $1 billion whose price implies free cash flow growth at least 3 points a year below what they delivered over the years on file. Ranked by the size of that gap. A one-off cash flow year can distort both numbers, so check each company's history. It shows the top 32 and is rebuilt every day.
Prices and ratios as of Oct 11, 2026. Statements from SEC filings. Information only, not investment advice.