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The Pricing Model Explained Overview: Why Use NAV?

A Disciplined Approach Toward Stock Selection

A Key Driver of Success

The Green Street NAV-based pricing model is designed to assess the valuation of any REIT relative to sector-level peers. The discipline and rigor the model embodies have played a pivotal role in the two-decade-long success of our recommendation track record. While the model is designed to be neutral with regard to whether REITs in aggregate are cheap or expensive, investors can employ other Green Street analytic tools to help assess overall valuation and/or sector allocation issues.

Company Research Macro Research

NAV-Based Pricing Model
+ Warranted Premium to NAV
= Warranted Share Price
Overall REIT Valuation
The RMZ Forecast Tool, published monthly, assesses overall REIT valuation vs. bonds and stocks. The tool has proven very helpful in identifying periods when REITs are badly mis- priced.
Stock Recommendations
The NAV-based Pricing Model, coupled with heavy analyst input, drives our stock recommendations. The recommendations are always market and sector neutral.

20+Yr Annualized Returns of Green Street's Recommendations*

Property Sector Allocation
The Commercial Property Outlook, published quarterly, addresses sector-level valuation questions with a focus on the long term. It is based on extensive research we've published on long-term sector performance and cap-ex requirements.

* Past performance can not be used to predict future performance. Please see disclosure for Green Street's stock recommendations.

The Pricing Model Explained Overview: Why Use NAV?