Host Hotels & Resorts, Inc. operates as a self-managed and self-administered real estate investment trust, which owns hotels and conducts operations through Host L.P. Co. is an owner of luxury and upper-upscale hotels. It operates through a single segment, hotel ownership. Its hotels operate in urban and resort markets either as luxury properties under brand names, such as 1 Hotels, Alila, Andaz, Fairmont, Four Seasons, Grand Hyatt, JW Marriott, Ritz-Carlton, St. More details at: http://www.hosthotels.com.

Should Host Hotels & Resorts shares be given the Cheap REIT Stocks label? To start, we see that the recent trading price for HST stock is $21.38 and the dividend yield is 3.74% (as of 5/15/2026). The most recent quarter's (MRQ) earnings result, annualized, was $2.68/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Host Hotels & Resorts produced $2.11/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $2.16/share. Comparing the current indicated annual dividend rate of $0.80 against that median result, we calculate a dividend payout ratio of 37.0%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 9.9 for the TTM Median method, 8.0 for price to earnings using MRQ annualized, and 10.1 for current price/TTM earnings. Based on HST's history, that recent TTM PE is low relative to the historical average, with the recent PE 27.3% lower than the average (TTM method) of 13.9.

Kilroy Realty Corporation is a self-administered real estate investment trust active in office, life science and mixed-use property types in the U.S.. Co. owns, develops, acquires and manages real estate assets, consisting primarily of Class A properties in Los Angeles, San Diego, the San Francisco Bay Area, Seattle and Austin. Its stabilized portfolio includes all of its properties with the exception of development properties committed for construction, under construction, or in the tenant improvement phase, redevelopment properties under construction, undeveloped land and real estate assets held for sale. More details at: http://www.kilroyrealty.com.

Should Kilroy Realty shares be given the Cheap REIT Stocks label? To start, we see that the recent trading price for KRC stock is $34.36 and the dividend yield is 6.29% (as of 5/15/2026). The most recent quarter's (MRQ) earnings result, annualized, was $3.64/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Kilroy Realty produced $4.09/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $4.08/share. Comparing the current indicated annual dividend rate of $2.16 against that median result, we calculate a dividend payout ratio of 52.9%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 8.4 for the TTM Median method, 9.4 for price to earnings using MRQ annualized, and 8.4 for current price/TTM earnings. Based on KRC's history, that recent TTM PE is low relative to the historical average, with the recent PE 49.1% lower than the average (TTM method) of 16.5.

Forestar Group is a residential lot development company focused primarily on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. Co. conducts a range of project planning and management activities related to the entitlement, acquisition, community development and sale of residential lots. Co. primarily invests in entitled short-duration projects that can be developed in phases enabling it to complete and sell lots at a pace that matches market demand. Co. has expanded its lot development operations across various markets in several states by investing available capital into its existing markets and by entering new markets. More details at: http://www.forestargroup.com.

Should Forestar Group shares be given the Cheap REIT Stocks label? To start, we see that the recent trading price for FOR stock is $25.52 and the dividend yield is 0.00% (as of 5/15/2026). The most recent quarter's (MRQ) earnings result, annualized, was $2.52/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Forestar Group produced $3.28/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $2.56/share. Comparing the current indicated annual dividend rate of $0.00 against that median result, we calculate a dividend payout ratio of 0.0%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 10.0 for the TTM Median method, 10.1 for price to earnings using MRQ annualized, and 7.8 for current price/TTM earnings. Based on FOR's history, that recent TTM PE is low relative to the historical average, with the recent PE 64.7% lower than the average (TTM method) of 22.1.

Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT). Co. is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated cannabis facilities. Co. is engaged in the business of providing real estate for the regulated cannabis industry. Co. acquires its properties through sale-leaseback transactions and third-party purchases. More details at: http://www.innovativeindustrialproperties.com.

Should Innovative Ind Props shares be given the Cheap REIT Stocks label? To start, we see that the recent trading price for IIPR stock is $53.98 and the dividend yield is 14.08% (as of 5/15/2026). The most recent quarter's (MRQ) earnings result, annualized, was $7.52/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Innovative Ind Props produced $7.18/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $7.16/share. Comparing the current indicated annual dividend rate of $7.60 against that median result, we calculate a dividend payout ratio of 106.1%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 7.5 for the TTM Median method, 7.2 for price to earnings using MRQ annualized, and 7.5 for current price/TTM earnings. Based on IIPR's history, that recent TTM PE is low relative to the historical average, with the recent PE 79.8% lower than the average (TTM method) of 37.1.

Xenia Hotels & Resorts, Inc. is a self-advised and self-administered real estate investment trust (REIT) that invests in luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as leisure destinations in the U.S.. Co. owns approximately 31 hotels comprising 9,408 rooms across 14 states. Co.'s hotels are in the luxury and upper upscale segments, and are operated and/or licensed by Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection. More details at: http://www.xeniareit.com.

Should Xenia Hotels & Resorts shares be given the Cheap REIT Stocks label? To start, we see that the recent trading price for XHR stock is $15.91 and the dividend yield is 3.52% (as of 5/15/2026). The most recent quarter's (MRQ) earnings result, annualized, was $2.52/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Xenia Hotels & Resorts produced $1.88/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $2.04/share. Comparing the current indicated annual dividend rate of $0.56 against that median result, we calculate a dividend payout ratio of 27.5%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 7.8 for the TTM Median method, 6.3 for price to earnings using MRQ annualized, and 8.5 for current price/TTM earnings. Based on XHR's history, that recent TTM PE is low relative to the historical average, with the recent PE 62.9% lower than the average (TTM method) of 22.9.