Real Estate
Data cutoff
Modeled fair value
VNQ · US Real Estate
P10–P90P25–P75Median fair valueToday's market price = 100
Today’s price sits at the 46.3th percentile of modeled fair value — 54% of modeled scenarios put fair value above the market.
- Median fair value
- 102.0
- Upside to median
- +2.0%
- Last close
- $97.11
- Confidence
- moderate-high
index, market = 100
2026-08-10
69/100
Modeled returns
Return distributions, not point forecasts
Percentiles describe the spread of scenario outcomes under the stated method. The width of the range carries as much information as the midpoint.
One year
modeled- P90
- +31.0%
- P75
- +19.0%
- Median
- +7.0%
- P25
- -4.0%
- P10
- -16.0%
66% of modeled scenarios end positive.
Valuation-aware total-return scenario distribution using sustainable economic growth/carry and partial valuation convergence; long-run returns used only as priors.
Three years, annualised
modeled- P90
- +21.0%
- P75
- +14.0%
- Median
- +7.0%
- P25
- 0.0%
- P10
- -7.0%
Annualized multi-year scenario distribution with partial rather than full valuation normalization and asset-specific income/carry assumptions.
Against the Treasury hurdle
- 1y Treasury
- 4.01%
- Expected excess
- +3.0%
- Basis
- direct
DGS1 is the preferred current investment-basis one-year hurdle; the modeled expected-return edge is not guaranteed excess return.
Instruments
6 in this asset class
| Symbol | Valuation | Fair value | Last close | 1y modeled |
|---|---|---|---|---|
| VNQ US Real Estate | +0.2Fair | 102.0 | $97.11 | +7.0% |
| XLRE US Real Estate Sector | —Unavailable | — | $44.40 | — |
| REET Global Real Estate | —Unavailable | — | $27.84 | — |
| REM Mortgage Real Estate | —Unavailable | — | $21.80 | — |
| SRVR Data Center and Digital REITs | —Unavailable | — | $31.46 | — |
| REZ Residential and Specialized REITs | —Unavailable | — | $95.07 | — |