What Defines a Value Stock?A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. The following stocks are considered to be notable value stocks in the real estate sector:Forestar Group (NYSE:FOR) - P/E: 9.26Hersha Hospitality (NYSE:HT) - P/E: 3.17Sotherly Hotels (NASDAQ:SOHO) - P/E: 5.83Arbor Realty Trust (NYSE:ABR) - P/E: 8.83Alexander's (NYSE:ALX) - P/E: 9.02This quarter, Forestar Group experienced an increase in