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Held by 753 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $29.30 today, the market must believe free cash flow compounds 19.3%/yr for a decade (off $248M normalized FCF).
The market's 19.3% is more optimistic than its 9-yr track record.
2-stage DCF · 0.42B shares · net debt -$640M
mean -7.1% · volatility σ 62% · implied rate exceeded in 3/8 yrs
Central path = implied 19.3%/yr growth; shaded band = ±1σ (62%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 240 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $161.8B | 167.1× | — | 14.9× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| XHG | $130.2B | — | — | 2536.8× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| PLD | $125.6B | 38.0× | — | 14.3× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| EQIX | $100.8B | 74.6× | 25.7× | 10.9× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $81.9B | 32.5× | 14.1× | 7.7× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $66.7B | 14.4× | — | 10.5× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $53.5B | 49.0× | — | 9.3× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $52.8B | 33.4× | — | 10.9× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| VTR | $41.7B | 162.4× | — | 7.1× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| CBRE | $41.2B | 36.2× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| IRM | $33.7B | 232.7× | 22.9× | 4.9× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $29.4B | 30.3× | 13.7× | 8.7× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| VICI | $25.8B | 9.2× | — | 6.4× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| SBAC | $19.1B | 18.5× | 21.6× | 6.8× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.6B | 133.3× | 37.9× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.5B | 26.0× | 11.5× | 9.3× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.6B | 28.3× | — | 6.1× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $15.8B | 20.5× | 11.8× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.6B | 48.1× | 16.7× | 2.3× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.3× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| NLY | $15.1B | 7.3× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| HST | $15.1B | 19.9× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| LAMR | $14.9B | 25.4× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| CSGP | $12.2B | 1465.0× | 60.8× | 3.8× | 18.7% | 78.9% | 0.2% | 0.1% | 0.1% | 5.2× | 753 |
Peers = companies sharing CSGP's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.25B 100.0% | $2.74B 100.0% | $2.46B 100.0% | $2.18B 100.0% | $1.94B 100.0% | $1.66B 100.0% | $1.40B 100.0% | $1.19B 100.0% | $965.2M 100.0% | $837.6M 100.0% |
| Cost of Revenue | $686.0M 21.1% | $558.0M 20.4% | $491.0M 20.0% | $414.0M 19.0% | $357.2M 18.4% | $309.0M 18.6% | $289.2M 20.7% | $269.9M 22.6% | $220.4M 22.8% | $173.8M 20.8% |
| Gross Profit | $2.56B 78.9% | $2.18B 79.6% | $1.96B 80.0% | $1.77B 81.0% | $1.59B 81.6% | $1.35B 81.4% | $1.11B 79.3% | $921.9M 77.4% | $744.8M 77.2% | $663.8M 79.2% |
| Selling, General & Admin | $549.0M 16.9% | $439.0M 16.0% | $382.0M 15.6% | $338.7M 15.5% | $256.8M 13.2% | $299.7M 18.1% | $178.7M 12.8% | $156.7M 13.1% | $146.1M 15.1% | $123.3M 14.7% |
| Total Operating Expenses | $2.63B 81.1% | $2.17B 79.4% | $1.68B 68.5% | $1.32B 60.4% | $1.15B 59.4% | $1.06B 63.9% | $746.9M 53.4% | $648.3M 54.4% | $571.0M 59.2% | $518.9M 61.9% |
| Operating Income | -$72.0M -2.2% | $5.0M 0.2% | $282.0M 11.5% | $451.0M 20.7% | $432.3M 22.2% | $289.2M 17.4% | $363.5M 26.0% | $273.6M 23.0% | $173.8M 18.0% | $144.9M 17.3% |
| Interest Expense | $19.0M 0.6% | $27.0M 1.0% | $31.0M 1.3% | $32.3M 1.5% | $32.3M 1.7% | $21.8M 1.3% | $2.6M 0.2% | $2.8M 0.2% | $9.0M 0.9% | $10.0M 1.2% |
| Other Income (Expense), net | -$8.0M -0.2% | -$8.0M -0.3% | $6.0M 0.2% | $3.4M 0.2% | $3.3M 0.2% | -$827K -0.0% | $10.7M 0.8% | — | — | — |
| Pretax Income | $30.0M 0.9% | $210.0M 7.7% | $502.0M 20.4% | $486.5M 22.3% | $404.0M 20.8% | $271.0M 16.3% | $390.9M 27.9% | $284.0M 23.8% | $165.1M 17.1% | $136.7M 16.3% |
| Income Tax Expense | $23.0M 0.7% | $71.0M 2.6% | $127.0M 5.2% | $117.0M 5.4% | $111.4M 5.7% | $43.9M 2.6% | $76.0M 5.4% | $45.7M 3.8% | $42.4M 4.4% | $51.6M 6.2% |
| Net Income | $6.5M 0.2% | $138.7M 5.1% | $374.7M 15.3% | $369.5M 16.9% | $292.6M 15.1% | $227.1M 13.7% | $315.0M 22.5% | $238.3M 20.0% | $122.7M 12.7% | $85.1M 10.2% |
| Per Share | ||||||||||
| EPS (Basic) | $0.02 | $0.34 | $0.92 | $0.93 | $0.75 | $0.60 | $0.87 | $6.61 | $3.70 | $2.64 |
| EPS (Diluted) | $0.02 | $0.34 | $0.92 | $0.93 | $0.74 | $0.59 | $0.86 | $6.54 | $3.66 | $2.62 |
| Weighted Avg Shares (Basic) | 416.8M | 406.3M | 405.3M | 396.3M | 392.2M | 380.7M | 363.1M | 36.1M | 33.2M | 32.2M |
| Weighted Avg Shares (Diluted) | 420.7M | 407.8M | 406.9M | 397.8M | 394.2M | 383.3M | 366.3M | 36.4M | 33.6M | 32.4M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $500M buybacks = $500M returned on $123M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 0%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.6B covers all $140M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~1.9% on $993M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 69th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 22.6 | 20.7 | 18.6 | 18.4 | 19.0 | 20.0 | 20.4 | 21.1 |
| Gross Profit | 77.4 | 79.3 | 81.4 | 81.6 | 81.0 | 80.0 | 79.6 | 78.9 |
| SG&A | 13.1 | 12.8 | 18.1 | 13.2 | 15.5 | 15.6 | 16.0 | 16.9 |
| Operating Income | 23.0 | 26.0 | 17.4 | 22.2 | 20.7 | 11.5 | 0.2 | -2.2 |
| Income Tax | 3.8 | 5.4 | 2.6 | 5.7 | 5.4 | 5.2 | 2.6 | 0.7 |
| Net Income | 20.0 | 22.5 | 13.7 | 15.1 | 16.9 | 15.3 | 5.1 | 0.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CSGP: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.