VTR - Financials And Real Estate Dashboard - Update
This article series provides a monthly dashboard of industries in each sector of the GICS classification. It compares valuation and quality factors relative to their historical averages.
Executive summary
Taking into account various metrics, mortgage REITs, consumer finance and capital markets look underpriced. The first 2 groups are above their historical average in profitability, whereas the latter is below it. Real estate management shows good ratios except a bad price/sales factor. Combining the 3 valuation metrics, equity REITs are moderately overpriced. The most overpriced groups are banks and insurance.
Anyway, I think systemic risk is