Investors interested in stocks from the Real Estate - Operations sector have probably already heard of Jones Lang LaSalle (JLL Quick QuoteJLL - Free Report) and Essential Properties (EPRT Quick QuoteEPRT - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Right now, Jones Lang LaSalle is sporting a Zacks Rank of #2 (Buy), while Essential Properties has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that JLL likely has seen a stronger improvement to its earnings outlook than EPRT has recently. However, value investors will care about much more than just this.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

JLL currently has a forward P/E ratio of 17.02, while EPRT has a forward P/E of 22.92. We also note that JLL has a PEG ratio of 1.89. 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. EPRT currently has a PEG ratio of 2.43.

Another notable valuation metric for JLL is its P/B ratio of 1.88. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, EPRT has a P/B of 2.07.

These are just a few of the metrics contributing to JLL's Value grade of B and EPRT's Value grade of C.

JLL is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that JLL is likely the superior value option right now.