Fondos inmobiliarios de renta variable infravalorados con un alto potencial de rendimiento en 2026: capitalizar las rebajas de valor neto activo y las recuperaciones de dividendos

The real estate investment trust () sector has long been a cornerstone for income-focused investors, but 2026 presents a unique opportunity to capitalize on deep net asset value () discounts and emerging dividend recovery plays. As of late 2025, several REITs trade at significant discounts to their intrinsic values, creating a compelling entry point for investors seeking both capital appreciation and high-yield returns. This analysis explores the most undervalued REITs across timber, hotel, and mortgage sectors, while evaluating their dividend recovery potential in a shifting macroeconomic landscape.

Timber REITs: Unlocking Value in a Cyclical Sector

The timber REIT sector remains one of the most attractively valued segments, to NAV as of December 2025. This discount reflects broader market skepticism about near-term demand for timber products amid a sluggish housing market. However, companies like Rayonier Inc. (RYN) and PotlatchDeltic (PCH) offer compelling opportunities for value hunters.

Rayonier , . The company's 1.75 million acres of U.S. . Meanwhile, PotlatchDeltic is trading at a discount , . Its integrated timberland and manufacturing operations provide visibility into lumber price cycles, which historically drive its performance.

Hotel REITs: Navigating Refinancing Challenges

The hotel REIT sector, with a median NAV discount of 35.7%, faces structural headwinds but also offers asymmetric upside. Service Properties Trust (STMP) leads the pack, trading at the largest discount . Its portfolio of 118 hotel properties is undervalued due to liquidity constraints in the debt markets, where hotel mortgage spreads have widened .

Braemar Hotels & Resorts (BHR), a luxury-focused REIT, is another standout. Despite owning 14 high-quality properties, Braemar trades at a significant discount to its intrinsic value, . This mispricing stems from public REIT valuation models that fail to fully capture the premium nature of its assets. For investors willing to stomach short-term volatility, Braemar's portfolio could deliver outsized returns if refinancing conditions improve in 2026.

Mortgage REITs: Value Grades and Dividend Resilience

Mortgage REITs (mREITs) like Angel Oak Mortgage REIT (AOMR), KKR Real Estate Finance Trust (KREF), and NexPoint Real Estate Finance (NREF) have been highlighted for their strong , derived from metrics such as price-to-sales and shareholder yield. While specific NAV discounts for these mREITs are not disclosed, the sector's broader valuation improvements in November 2025 suggest a potential rebound in 2026.

These mREITs benefit from their focus on residential and commercial mortgage-backed securities, which offer attractive yields in a high-interest-rate environment. However, their performance will hinge on the Federal Reserve's rate-cutting trajectory. As analysts note, mREITs with strong balance sheets and low leverage are best positioned to capitalize on falling borrowing costs in 2026.

Dividend Recovery: Sectoral Divergence in 2026

The 2026 REIT dividend outlook is mixed. , specialized and retail REITs will outperform, driven by resilient demand and stable leasing activity. In contrast, office and hotel REITs face continued pressure from weak occupancy rates.

For investors prioritizing income, the Fed's rate-cutting cycle will be pivotal. REITs like Realty Income (O), Prologis (PLD), and Digital Realty (DLR) are expected to benefit from lower borrowing costs and increased investor appetite for yield-producing assets. These companies, though not among the most undervalued, offer a safer path to dividend growth in a volatile market.

Strategic Considerations for 2026

Investors should approach undervalued REITs with a focus on sector-specific catalysts. For timber and hotel REITs, the key is to identify companies with strong asset fundamentals and proactive management teams capable of narrowing NAV discounts. In mortgage REITs, the emphasis should be on balance sheet strength and alignment with rate-cutting expectations.

The coming year also demands caution. While deep NAV discounts suggest potential for capital appreciation, they often reflect underlying risks-such as liquidity constraints in the hotel sector or cyclical demand shifts in timber. Diversification across sectors and a long-term horizon will be critical to navigating these challenges.

Conclusion

The REIT sector in 2026 offers a rare confluence of deep NAV discounts and dividend recovery potential. Timber and hotel REITs, in particular, present asymmetric opportunities for investors willing to bet on structural improvements in their respective markets. Meanwhile, mortgage REITs and high-quality industrial REITs provide a more stable income stream. By leveraging these dynamics, investors can position themselves to capitalize on both capital appreciation and yield in a year of macroeconomic transition.