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 40.0th percentile of modeled fair value — 60% of modeled scenarios put fair value above the market.
- Median fair value
- 104.0
- Upside to median
- +4.0%
- Last close
- $96.30
- Confidence
- moderate-high
index, market = 100
2026-09-01
73/100
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
- +30.0%
- P75
- +19.0%
- Median
- +7.0%
- P25
- -4.0%
- P10
- -17.0%
65% of modeled scenarios end positive.
blended economic-output/carry and valuation-convergence scenarios; long-run returns used only as priors
Three years, annualised
blended- P90
- +20.0%
- P75
- +14.0%
- Median
- +7.0%
- P25
- +1.0%
- P10
- -4.0%
annualized multi-year economic-output/carry and partial-valuation-normalization scenarios
Against the Treasury hurdle
- 1y Treasury
- 4.16%
- Expected excess
- +2.8%
- Basis
- direct
DGS1 is the preferred current investment-basis one-year hurdle; expected excess is modeled and not guaranteed.
Instruments
6 in this asset class
| Symbol | Valuation | Fair value | Last close | 1y modeled |
|---|---|---|---|---|
| VNQ US Real Estate | +0.6Somewhat cheap | 104.0 | $96.30 | +7.0% |
| XLRE US Real Estate Sector | —Unavailable | — | — | — |
| REET Global Real Estate | —Unavailable | — | — | — |
| REM Mortgage Real Estate | —Unavailable | — | — | — |
| SRVR Data Center and Digital REITs | —Unavailable | — | — | — |
| REZ Residential and Specialized REITs | —Unavailable | — | — | — |