Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Alpine Income (PINE) and SL Green (SLG). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Both Alpine Income and SL Green have a Zacks Rank of # 2 (Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is only part of the picture for value investors.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

PINE currently has a forward P/E ratio of 9.57, while SLG has a forward P/E of 11.95. We also note that PINE has a PEG ratio of 1.60. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. SLG currently has a PEG ratio of 5.33.

Another notable valuation metric for PINE is its P/B ratio of 0.89. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, SLG has a P/B of 1.18.

These metrics, and several others, help PINE earn a Value grade of B, while SLG has been given a Value grade of D.

Both PINE and SLG are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that PINE is the superior value option right now.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Alpine Income Property Trust, Inc. (PINE) : Free Stock Analysis Report

SL Green Realty Corporation (SLG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research