Our sector trackers include ratios applicable to value companies with no analyst coverage and the more typical EV/ Revenues and EV/ EBITDA measures. For each valuation measure, we present the values for the lowest 25% of companies, the median, and the highest 25%. This gives investors a better understanding of the spread of values than a simple average, often presented but frequently seriously flawed by outliers. The recent bank failures prompted us to look at the valuations of the Real Estate sector which is composed of cannabis lenders and providers of sales leasebacks.  The median market to book ratio of the 11 companies in our database is no ony .71x compared to 1.4x a year ago. This demonstrates an unease in the value of their underlying assets, based on upticks in reserves for loan losses and defaults.  The key question one might ask is whether this will deter them from being able to raise capital with which to lend to cannabis companies.