Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
FORthis companyForestar Group Inc.	$24.23	9.23×	0.69×	0.8×	7.56×	234.9%	19.7%	10.5%	8.7%	7.4%	4.5%	0.0%	0.41×	0.71×	0×	6.4×	0.0%	6	2.68	4	A-
ARIApollo Commercial Real Estate Finance, Inc.	$2.32	11.95×	0.72×	1.89×	15.25×	998.8%	80.1%	65.4%	17.8%	6.8%	4.7%	3.1%	4.27×	13×	1.01×	0.3×	11.4%	7	0.65	4	A-
EFCEllington Financial Inc.	$11.35	11.41×	0.74×	2×	39.45×	-1948.7%	84.3%	61.6%	21.8%	8.0%	200.7%	37.7%	9.25×	36.51×	1.36×	0.08×	13.6%	3	-0.01	3	B-
IIPRInnovative Industrial Properties, Inc.	$55.91	11.9×	0.72×	4.99×	8.01×	2.8%	88.7%	46.7%	43.0%	6.2%	227.9%	13.2%	0.21×	1.66×	6.15×	0.15×	16.6%	5	1.34	4	A
KREFKKR Real Estate Finance Trust Inc.	$5.64	-7.83×	0.47×	1.2×	18.76×	2163.7%	88.3%	59.3%	-10.3%	-4.0%	4.2%	12.1%	4×	16.76×	0.84×	0.32×	16.1%	4	-0.17	2	C+
LADRLadder Capital Corp	$9.01	21.55×	0.93×	3.52×	17.7×	260.6%	71.8%	62.0%	16.4%	4.3%	4.6%	6.3%	2.37×	12.67×	1.39×	0.35×	8.5%	5	0.28	3	B
Peer median	—	11.9×	0.72×	2×	17.7×	260.6%	84.3%	61.6%	17.8%	6.2%	4.7%	12.1%	4×	13×	1.36×	0.3×	13.6%	5	0.28	3	—