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

Publicly listed US equity real estate investment trusts traded at a median 23.3% discount to their consensus estimates for net asset value per share as of May 31, steeper than the 20.8% discount logged at the start of the month.

Largest discounts

Office REITs again traded at the largest discount to net asset value (NAV) at 57.7%. Of the 10 REITs on the overall biggest discount list, eight were office REITs.

Hudson Pacific Properties Inc. traded at the biggest discount within the office sector and among all US equity REITs above $200 million in market capitalization. The REIT closed May 31 at $4.67, 76.7% below its consensus NAV estimate of $20.03 per share.

Three office REITs ranked second to fourth on the list: Office Properties Income Trust, Brandywine Realty Trust and Piedmont Office Realty Trust Inc. Office Properties Income traded at a 71.9% discount to NAV, Brandywine Realty at a 71.6% discount and Piedmont Office Realty at a 67.1% discount.

– Download an Excel a template with data featured in this story. – 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.

At the end of May, the hotel sector traded at the second-largest median discount at 37%, and the regional mall sector traded at the third largest at 36.9%. However, no hotel or regional mall REIT was on the top 10 overall discount list.

Among hotel REITs, Braemar Hotels & Resorts Inc. recorded the largest discount at 52.6%. Macerich Co. booked the biggest discount among regional mall REITs at 50.1%.

Largest premiums

The only sector that traded at a median premium to NAV as of May 31 was the casino sector, at 2.3%. VICI Properties Inc. was the only casino REIT on the overall biggest premiums list, trading at a 5% premium.

Healthcare-focused Welltower Inc. traded at the largest premium to NAV among all the REITs included in the analysis. The REIT closed May 31 at $74.61, 27.8% above its consensus estimate of $58.40.

Two other healthcare REITs claimed the No. 2 and No. 3 spots. Omega Healthcare Investors Inc. traded at a premium of 22.1% and Community Healthcare Trust Inc. at 13.1%.