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
As the market is discounting the consequences of higher rates, mortgage REITs have been underpriced regarding their historical average in valuation and profitability metrics for a long time. The future will tell if anticipations are exaggerated or not. Real estate management is underpriced regarding the median price/earnings, price to free cash flow is fair, ROE is good, but the price/sales ratio looks bad. Combining the 3