Is Spirit Realty Capital, Inc. overvalued or undervalued?

As of 1 October 2023, Spirit Realty Capital, Inc. has moved from fair to attractive. The company appears to be undervalued based on its current financial metrics. Key ratios include a price-to-earnings ratio of 15.2, a price-to-book ratio of 1.3, and a dividend yield of 5.8%.
In comparison to its peers, Realty Income Corporation has a price-to-earnings ratio of 18.5, while National Retail Properties shows a price-to-book ratio of 1.5. These comparisons suggest that Spirit Realty is trading at a discount relative to its peers. Additionally, the stock has outperformed the Sensex recently, reinforcing the notion that it may be undervalued in the current market environment.