According to the GuruFocus All-in-One Screener, a Premium feature, the following guru-owned real estate companies have grown their book value per share over the past decade through June 1.
Book value per share is calculated as total equity minus preferred stock, divided by shares outstanding. Theoretically, it is what shareholders will receive if a company is liquidated. Total equity is a balance sheet item and is equal to total assets minus total liabilities.
Since the book value per share may not reflect the company's true value, some investors check the tangible book value to confirm their investment ideas.
AvalonBay
The book value per share of AvalonBay Communities Inc. (AVB) has risen 6.20% over the last 10 years. The price-book ratio and the price-tangible book ratio are both 2.71.
The owner of large and high-quality properties has a market cap of $28.8 billion and an enterprise value of $36.48 billion.
According to the discounted cash flow calculator, shares are undervalued and trading with a 14.11% margin of safety at $207. The share price has been as high as $207.40 and as low as $131.38 in the last 52 weeks. As of Tuesday, the stock was trading 0.22% below its 52-week high and 57.51% above its 52-week low. The price-earnings ratio is 36.18.
Pioneer Investments (Trades, Portfolio) is the largest guru shareholder of the company with 0.15% of outstanding shares, followed by Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.08% and Chris Davis (Trades, Portfolio) with 0.07%.
CBRE Group
CBRE Group Inc.'s (CBRE) book value per share has grown 22.10% over the past decade. The price-book ratio is 4.08 and the price-tangible book ratio is 14.34.
The provider of real estate services has a market cap of $29.4 billion and an enterprise value of 31.4 billion.
According to the DCF calculator, the stock is undervalued and is trading with a 5.45% margin of safety at $87.78. The share price has been as high as $89.5 and as low as $41.04 in the last 52 weeks. As of Tuesday, the stock was trading 1.92% below its 52-week high and 113.97% above its 52-week low. The price-earnings ratio is 35.11.
With 3.26% of outstanding shares, Baillie Gifford (Trades, Portfolio) is the company's largest guru shareholder, followed by ValueAct Holdings LP (Trades, Portfolio) with 3.05% and Al Gore (Trades, Portfolio) with 2.93%.
Granite Real Estate
Granite Real Estate Investment Trust's (GRP.U) book value per share has grown 7.7% over the past decade. The price-book ratio and the price-tangible book ratio are both 1.23.
The real estate investment trust acquires and manages industrial properties in North America and Europe. It has a market cap of $4.1 billion and an enterprise value of $5.36 billion.
According to the DCF calculator, the stock is undervalued and is trading with a 78.73% margin of safety at $67.02. The share price has been as high as $68.42 and as low as $47.67 in the last 52 weeks. As of Tuesday, the stock was trading 2.05% below its 52-week high and 40.59% above its 52-week low.
Simons' firm is the largest guru shareholder of the company with 0.54% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.06% and Prem Watsa (Trades, Portfolio) with 0.03%.
Highwoods Properties
The book value per share of Highwoods Properties Inc. (HIW) has grown 5.80% over the last 10 years. The price-book ratio and the price-tangible book ratio are both 2.06.
The real estate investment trust acquires and manages industrial properties in the Southern United States. It has a market cap of $4.7 billion and an enterprise valued of 7.35 billion.
According to the DCF calculator, the stock is undervalued and is trading with an 46.61% margin of safety at $45.68. The share price has been as high as $45.89 and as low as $29.18 in the last 52 weeks. As of Tuesday, the stock was trading 0.46%% below its 52-week high and 56.55% above its 52-week low. The price-earnings ratio is 22.17.
With 0.24% of outstanding shares, Simons' firm is the company's largest guru shareholder, followed by Chris Davis (Trades, Portfolio) with 0.17% and Jeremy Grantham (Trades, Portfolio) with 0.10%.
Manhattan Bridge Capital
Manhattan Bridge Capital Inc.'s (LOAN) book value per share has grown 5.9% over the past decade. The price-book ratio and the price-tangible book ratio are both 1.95.
The company, which offers non-banking loans to real estate investors, has a market cap of $64 million and an enterprise value of $90 million.
According to the DCF calculator, the stock is undervalued and is trading with a 64.64% margin of safety at $6.70. The share price has been as high as $6.73 and as low as $3.90 in the last 52 weeks. As of Tuesday, the stock was trading 0.45% below its 52-week high and 71.79% above its 52-week low. The price-earnings ratio is 14.89.
Simons' firm is the largest guru shareholder of the company with 1.66% of outstanding shares.
Disclosure: I do not own any stocks mentioned.
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