Valuation Trading Multiples & Precedent Transactions: Residential and Healthcare REITs
Valuation benchmarks for Residential and Healthcare REITs. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Residential and Healthcare REITs Market Context & Valuation Drivers
Public companies in this trading comps group are real estate investment trusts that own, develop, acquire, and operate rental housing and healthcare-related properties. Portfolios include multifamily apartments, single-family rentals, manufactured housing communities, senior living, and outpatient/life science facilities. They are grouped as public trading comparables because they generate recurring lease-based cash flows, share REIT capital structures, and are benchmarked by occupancy, same-store NOI, FFO, and portfolio growth.
Typical capabilities span property acquisition and development, leasing and asset management, and full-service property operations. Offerings include Class A apartment communities, value-oriented rentals, single-family homes for lease, manufactured housing and RV communities, independent and assisted living, memory care, post‑acute rehabilitation centers, outpatient medical office buildings, and life science research facilities. Many deploy capital recycling, redevelopment, resident services programs, and data-driven pricing to optimize NOI and returns.
Primary customers include residential renters and households, seniors and their families, and healthcare providers, physician groups, and life‑science tenants. Key valuation benchmarks center on occupancy and retention, rent growth and same‑store NOI trends, FFO/AFFO per share and leverage, and development/redevelopment yields. Investors assess portfolio mix, market exposure, lease term structures, and operating margins to gauge durability of cash flows and growth.
2. Valuation Analysis: Public Trading Comps & Multiples for Residential and Healthcare REITs companies
2.1 - Public Peer Groups & Median Valuation Multiples for Residential and Healthcare REITs sector
Comparable group 1: Residential and Healthcare REITs
Welltower
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of healthcare infrastructure and residential wellness solutions, supporting senior housing, post-acute care, and outpatient medical facilities. Focuses on relationship-based investing to enhance senior living and healthcare infrastructure, delivering high-quality environments for care and aging.
- Key Products:
- Senior Housing: State-of-the-art senior living communities offering assisted living and memory care
- Outpatient Medical Facilities: Modern medical office buildings tailored for outpatient care services
- Rehabilitation Centers: Post-acute care facilities providing rehabilitation and recovery services
- Wellness Housing: Integrated wellness and lifestyle environments for senior residents
- Property Management: Comprehensive management services for healthcare real estate assets.
Ventas
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of real estate investment services focused on the ownership, management, and acquisition of research, medicine, and healthcare facilities in North America and the United Kingdom. Specializes in senior housing communities, outpatient medical buildings, and state-of-the-art research centers to support health and longevity through sustainable real estate practices.
- Key Products:
- Senior Housing Communities: Comfortable and supportive living environments for seniors.
- Outpatient Medical Buildings: Facilities designed for outpatient medical services.
- Research Centers: State-of-the-art facilities for medical and scientific research.
- Healthcare Facilities: Specialized places providing critical care.
- Private Capital Management: Institutional private capital management for superior returns.