Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Hudson Pacific Properties (HPP Quick QuoteHPP - Free Report) and Industrial Logistics Properties Trust (ILPT Quick QuoteILPT - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

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 Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Currently, Hudson Pacific Properties has a Zacks Rank of #2 (Buy), while Industrial Logistics Properties Trust has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that HPP likely has seen a stronger improvement to its earnings outlook than ILPT has recently. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

HPP currently has a forward P/E ratio of 14.02, while ILPT has a forward P/E of 14.99. We also note that HPP has a PEG ratio of 2.52. 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. ILPT currently has a PEG ratio of 6.35.

Another notable valuation metric for HPP is its P/B ratio of 1.06. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, ILPT has a P/B of 1.86.

Based on these metrics and many more, HPP holds a Value grade of B, while ILPT has a Value grade of C.

HPP has seen stronger estimate revision activity and sports more attractive valuation metrics than ILPT, so it seems like value investors will conclude that HPP is the superior option right now.