Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Community Healthcare Trust (CHCT Quick QuoteCHCT - Free Report) is a stock many investors are watching right now. CHCT is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 6.74, while its industry has an average P/E of 16.73. CHCT's Forward P/E has been as high as 9.16 and as low as 6.32, with a median of 7.88, all within the past year.

We also note that CHCT holds a PEG ratio of 1.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CHCT's industry currently sports an average PEG of 1.64. Within the past year, CHCT's PEG has been as high as 1.15 and as low as 0.93, with a median of 1.05.

Another notable valuation metric for CHCT is its P/B ratio of 0.97. 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. CHCT's current P/B looks attractive when compared to its industry's average P/B of 1.98. Within the past 52 weeks, CHCT's P/B has been as high as 1.21 and as low as 0.92, with a median of 1.05.

Finally, we should also recognize that CHCT has a P/CF ratio of 9.62. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. CHCT's P/CF compares to its industry's average P/CF of 15.53. Over the past 52 weeks, CHCT's P/CF has been as high as 13.43 and as low as 9.19, with a median of 11.36.

Investors could also keep in mind Park Hotels & Resorts (PK Quick QuotePK - Free Report) , another REIT and Equity Trust - Other stock with a Zacks Rank of #2 (Buy) and Value grade of A.

Shares of Park Hotels & Resorts are currently trading at a forward earnings multiple of 5.89 and a PEG ratio of 1.37 compared to its industry's P/E and PEG ratios of 16.73 and 1.64, respectively.

PK's price-to-earnings ratio has been as high as 7.11 and as low as 4.38, with a median of 5.77, while its PEG ratio has been as high as 6.29 and as low as 0.61, with a median of 1.28, all within the past year.

Park Hotels & Resorts also has a P/B ratio of 0.71 compared to its industry's price-to-book ratio of 1.98. Over the past year, its P/B ratio has been as high as 0.88, as low as 0.52, with a median of 0.70.

These are only a few of the key metrics included in Community Healthcare Trust and Park Hotels & Resorts strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, CHCT and PK look like an impressive value stock at the moment.