Editor's note: This Data Dispatch is updated monthly and was last published Nov. 3. The analysis includes current publicly traded U.S. equity real estate investment trusts that trade on the Nasdaq, NYSE or NYSE American with market capitalizations of at least $200 million. Click here to download these charts in Excel format.

Publicly listed U.S. equity REITs traded at a median 16.6% discount to their consensus S&P Capital IQ net asset value per-share estimates as of Nov. 30, an improvement from the 22.0% discount at Nov. 1.

Largest discounts

For the fifth consecutive month, office REITs traded at the steepest discount, at a median of 43.1% below NAV. Hudson Pacific Properties Inc. traded at a 63.1% discount to NAV, the largest within the office sector and the third-largest among all U.S. equity REITs above $200 million in market capitalization.

Office REITs Office Properties Income Trust and Piedmont Office Realty Trust Inc. were also part of the overall biggest discount list at No. 5 and No. 7, respectively. Office Properties Income Trust traded at a 57.0% discount to NAV, and Piedmont Office Realty Trust traded at a 53.5% discount.

* Download an Excel template with data featured in this story. * Click here to set email alerts for future Data Dispatch articles. * Read some of the day's top real estate news and insights from S&P Global Market Intelligence.

The regional mall sector continued to trade at the next-largest median discount, at 28.0% below NAV. Mall giant Simon Property Group Inc. traded at a discount of 12.9%, and regional mall owner Macerich Co. closed the trading day at 43.2% below its consensus NAV estimate.

Among all U.S. equity REITs in the analysis, industrial REIT Industrial Logistics Properties Trust traded at the largest discount to NAV as it closed Nov. 30 at $4.07, 82.9% below its consensus NAV estimate of $23.86.

Largest premiums

Four sectors traded at median premiums to NAV as of Nov. 30: casino; communications; "other retail," which includes single-tenant retail and outlet center REITs; and farmland.

Within the casino sector, VICI Properties Inc. traded at a 14.9% premium to its consensus NAV estimate. Communications REIT American Tower Corp. traded 21.9% above its estimate, the largest premium across all U.S. equity REITs included in the analysis.

Farmland REIT Gladstone Land Corp. traded at a premium of 17.5%, nabbing the fourth spot, below healthcare-focused Welltower Inc. and LTC Properties Inc., which traded at 20.5% and 19.6%, respectively.