Recognized Experts in REIT Investing.

The go-to-source for US and European REIT Market Intelligence





Annual Reads on REIT Reports

REIT Investment Research

Objective, Contrarian, Value-oriented

Leonberg Capital is a REIT investment specialist with research capabilities in the US and European markets. We provide various research services ranging from an investment newsletter to customized research, and other consulting services.

REIT Investment Newsletter

Leonberg Capital is the editor of    "High Yield Landlord" - a leading REIT Investment newsletter hosted on


The service features 3 model portfolios targeting REITs trading at discounted valuations and high yields. For more information on our REIT investment newsletter and how to subscribe, click HERE.

Customized REIT Research 

We provide ongoing coverage of the REIT market to various groups of investors including family offices, funds, HNW individuals, and other institutional investors. 


We cater our research services to your specific needs. Whether you need to complete a one-time research project on REIT investing, or need a reliable partner for regular market coverage, we can help.

Strategic REIT Consulting

REIT management teams contact us to get independent guidance on how to maximize shareholder value and improve their communication with potential investors.

We have deep market experience on how shareholders react to different corporate actions and provide our independent guidance on strategic decisions to REIT management teams.






About Us

True Specialists with One Focus

Leonberg Capital is a contrarian, value-oriented investment boutique specializing in mispriced real estate securities trading at high discounts to NAV and excessive yields. We research global public real estate markets for the greatest risk-to-reward outcomes and construct portfolios for long term market outperformance. Our approach mainly targets undervalued small-cap value REITs which we expect to generate returns far exceeding those of passive indexes and most private market real estate investments.

We are not only a research company but also an active manager of our own portfolio and invest in our highest-conviction investment ideas - aligning interest with our clients.

More than 2,000 clients have trusted us with their public real estate investment research; over 40,000 investors follow us on the financial website SeekingAlpha, and +3,000,000 people have read our published REIT-related reports last year alone. 

Leonberg is based in Dallas, Texas, and Tallinn, Estonia where it targets private investment opportunities in addition to its public real estate investments. Leonberg maintains a strong presence in the US and other European markets through an extensive list of research partners.


Key Personnel

Jussi Askola

Jussi Askola is a former private equity real estate investor with experience working for a real estate investment boutique in Dallas, Texas; and performing property acquisition in Germany.


Today, he is the President of Leonberg Capital where he dedicates his full attention to the US and European REIT markets. 

In addition to having passed all CFA exams, Jussi holds a B.Sc. in Real Estate Finance from University Nürtingen-Geislingen (Germany) and a B.Sc. Construction and Property Management from University of South Wales (UK). He has authored award-winning academic papers on REIT investing, been featured on numerous financial media outlets, has over 30,000 followers on SeekingAlpha, and built relationships with many top REIT executives.

Samuel Smith
Vice President

Samuel Smith is a licensed Professional Engineer (Texas) with experience in commercial and residential land development, including designing, managing, and analyzing investment projects from the due diligence phase through completion, including single family home subdivisions, industrial warehouses, restaurants, convenience stores, campuses, and multifamily properties.


This background gives him a unique "boots on the ground" perspective on real estate investing and with it an ability to conduct effective due diligence on individual properties.


Samuel holds a B.S. in Civil Engineering and Mathematics from the United States Military Academy at West Point.

Mark Roussin

Mark Roussin is an active Certified Public Accountant in the state of California with over 10 years of experience working as a CPA for public and private Real Estate corporations.


Prior to that, Mark was with Ernst & Young for 6 years. Mark uses his specialized real estate accounting skills to go beyond the surface numbers of REITs and sort out the worthwhile from the wobbly. In addition to being an active CPA, Mark holds a B.S. in Accounting from California Baptist University.


Proven Track Record

We all rank among the very best analysts with exceptionally high hit-rate and returns on our +300 past recommendations according to independent rating service TipRanks (data as of 01/2020).  
We are true specialists focusing on one thing alone: generating alpha in the often-mispriced REIT and real estate securities space.

Contact us


To become a client or learn more about how our service offerings can benefit you, please call us at +1 469 844 3353 or complete our online form.

Email & Phone:

US Tel: +1 469 844 3353
EU Tel: +372 5647 6968
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Dallas,  USA

Tallinn, Estonia

© 2020 by Leonberg Capital OÜ

Disclaimer: Leonberg Capital and its employees are not Registered Investment Advisors or Financial Planners. The research reports and other market intelligence are provided for information purposes only. Our research does not constitute investment advice and readers should not make any investment decision without conducting their own due diligence or consulting their financial advisor about their specific situation.