Real Estate
Data cutoff intraday
Modeled fair value
VNQ · US Real Estate
P10–P90P25–P75Median fair valueToday's market price = 100
Today’s price sits at the 61.9th percentile of modeled fair value — 38% of modeled scenarios put fair value above the market.
- Median fair value
- 96.6
- Upside to median
- -3.4%
- Last close
- $97.62
- Confidence
- moderate-high
index, market = 100
2026-08-18
79/100
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
blended- P90
- +31.0%
- P75
- +18.0%
- Median
- +5.5%
- P25
- -7.0%
- P10
- -18.0%
61% of modeled scenarios end positive.
Scenario blend of sustainable economic growth/carry, partial valuation convergence, and asset-specific current valuation anchors.
Three years, annualised
blended- P90
- +18.0%
- P75
- +12.0%
- Median
- +6.0%
- P25
- 0.0%
- P10
- -5.0%
Annualized three-year scenario blend with slower valuation convergence and wider macro/fundamental uncertainty.
Against the Treasury hurdle
- 1y Treasury
- 4.00%
- Expected excess
- +1.5%
- Basis
- direct
Expected excess is a modeled spread versus the current 1Y Treasury investment-basis yield; it is not guaranteed.
Instruments
6 in this asset class
| Symbol | Valuation | Fair value | Last close | 1y modeled |
|---|---|---|---|---|
| VNQ US Real Estate | -0.7Somewhat expensive | 96.6 | $97.62 | +5.5% |
| XLRE US Real Estate Sector | -0.7Somewhat expensive | 96.6 | $44.63 | +5.5% |
| REET Global Real Estate | -0.7Somewhat expensive | 96.6 | $27.88 | +5.5% |
| REM Mortgage Real Estate | -0.7Somewhat expensive | 96.6 | $22.00 | +5.5% |
| SRVR Data Center and Digital REITs | -0.7Somewhat expensive | 96.6 | $31.67 | +5.5% |
| REZ Residential and Specialized REITs | -0.7Somewhat expensive | 96.6 | $94.40 | +5.5% |