Reported Earnings • May 20
Full year 2025 earnings released: EPS: €0.73 (vs €0.72 in FY 2024) Full year 2025 results: EPS: €0.73 (up from €0.72 in FY 2024). Revenue: €100.0m (up 5.1% from FY 2024). Net income: €60.7m (flat on FY 2024). Profit margin: 61% (down from 64% in FY 2024). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. MD of Retail, Offices & Logistics and Director Jose Manuel Llovet Barquero was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Director Lucía Martínez-Noriega Campuzano is the most experienced director on the board, commencing their role in 2024. Independent President of Board of Director Regina Salazar was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Aug 06
Lar España Real Estate SOCIMI, S.A. acquired HELIOS RE SOCIMI, S.A. Lar España Real Estate SOCIMI, S.A. agreed to acquire HELIOS RE SOCIMI, S.A. on May 22, 2025.
Lar España Real Estate SOCIMI, S.A. completed the acquisition of HELIOS RE SOCIMI, S.A. on May 22, 2025. Shareholders of Lar España Real Estate SOCIMI, S.A. and HELIOS RE SOCIMI, S.A. approved the acquisition. Annuncio • Mar 07
Lar España Real Estate SOCIMI, S.A. announces Annual dividend, payable on March 06, 2025 Lar España Real Estate SOCIMI, S.A. announced Annual dividend of EUR 0.2066 per share payable on March 06, 2025, ex-date on March 04, 2025 and record date on March 05, 2025. Reported Earnings • Jul 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €23.5m (down 1.3% from 2Q 2023). Net income: €7.03m (up 117% from 2Q 2023). Profit margin: 30% (up from 14% in 2Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Annuncio • Jul 24
Lar España Real Estate SOCIMI, S.A. to Report First Half, 2024 Results on Jul 26, 2024 Lar España Real Estate SOCIMI, S.A. announced that they will report first half, 2024 results on Jul 26, 2024 Annuncio • Jul 22
Lar España Real Estate SOCIMI, S.A. to Report Q3, 2024 Results on Nov 15, 2024 Lar España Real Estate SOCIMI, S.A. announced that they will report Q3, 2024 results on Nov 15, 2024 Annuncio • Jul 13
The consortium formed by the Real Estate fund Hines European Real Estate Partners III a fund managed by Hines Interests Limited Partnership and Grupo Lar Inversiones Inmobiliarias, S.A., announce a Voluntary Cash Tender Offer to acquire an remaining 89.85% stake in Lar España Real Estate SOCIMI, S.A. (BME:LRE) for approximately €610 million. The consortium formed by the Real Estate fund Hines European Real Estate Partners III a fund managed by Hines Interests Limited Partnership and Grupo Lar Inversiones Inmobiliarias, S.A., announce a Voluntary Cash Tender Offer to acquire an remaining 89.85% stake in Lar España Real Estate SOCIMI, S.A. (BME:LRE) for approximately €610 million on July 12, 2024. The consideration offered to Lar España’s shareholders consists of €8.10 per share, paid in cash, which implies valuing Lar España’s share capital at approximately €678 million. The Offer price implies a premium of 16% over the closing share price on the day before the Announcement, 17% premium over last 1-month VWAP and 25% premium over last 6-month VWAP adjusted by dividend. The Offer is addressed to effectively 89.85% of the ordinary shares of Lar España, excluding the shares owned by Grupo Lar and Miguel Pereda Espeso (shareholder and Executive Chairman of Grupo Lar), which will contribute their shares to the Offeror after settlement. The Offer is conditional on reaching a minimum level of acceptance that allows the Offeror to gain control, assets perimeter remaining unchanged and no material changes in the net debt/cash position taking the latest publicly available quarterly report as of Q1- 2024. The Consortium will fund the Offer with a combination of equity and external debt financing fully underwritten by reputable banks. The intention of the parties is to further optimize the capital structure of Lar España and to increase leverage to c.60% LTV.
Morgan Stanley and AZ Capital are acting as financial advisors and Freshfields Bruckhaus Deringer and Garrigues as legal advisors to the Consortium. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €8.23, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Retail REITs industry in Europe. Total returns to shareholders of 109% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.27 per share. Reported Earnings • May 26
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.18. Revenue: €23.7m (down 5.6% from 1Q 2023). Net income: €15.3m (down 52% from 1Q 2023). Profit margin: 65% (down from 127% in 1Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.8% decline forecast for the Retail REITs industry in Europe. Annuncio • May 11
Lar España Real Estate SOCIMI, S.A. to Report Q1, 2024 Results on May 24, 2024 Lar España Real Estate SOCIMI, S.A. announced that they will report Q1, 2024 results at 1:30 PM, Central European Standard Time on May 24, 2024 Major Estimate Revision • Apr 05
Consensus EPS estimates increase by 32% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.647 to €0.855. Revenue forecast steady at €94.5m. Net income forecast to grow 52% next year vs 56% growth forecast for Retail REITs industry in Spain. Consensus price target broadly unchanged at €7.61. Share price rose 4.7% to €7.56 over the past week. Annuncio • Mar 23
Lar España Real Estate SOCIMI, S.A., Annual General Meeting, Apr 24, 2024 Lar España Real Estate SOCIMI, S.A., Annual General Meeting, Apr 24, 2024, at 12:00 Central European Standard Time. Location: Príncipe de Vergara 187, Plaza de Rodrigo Uría, Madird Spain Agenda: To consider the annual accounts and management of the Company; to consider the Dividend distribution; to consider the appointment of the auditor of the Company's accounts; to consider the Setting of the number of members of the Board of Director; to consider the remuneration of the members of the Board of Directors; to consider the Annual Directors's Remuneration Report for the 2023 financial year; and to consider the other matters. New Risk • Mar 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 138% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 138% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (39% net profit margin). Annuncio • Feb 23
Lar España Real Estate SOCIMI, S.A. to Report Fiscal Year 2023 Results on Feb 29, 2024 Lar España Real Estate SOCIMI, S.A. announced that they will report fiscal year 2023 results on Feb 29, 2024 Reported Earnings • Nov 28
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.18. Revenue: €23.3m (up 5.5% from 3Q 2022). Net income: €15.3m (up 13% from 3Q 2022). Profit margin: 66% (up from 61% in 3Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Annuncio • Nov 22
Lar España Real Estate SOCIMI, S.A. to Report Q3, 2023 Results on Nov 24, 2023 Lar España Real Estate SOCIMI, S.A. announced that they will report Q3, 2023 results on Nov 24, 2023 New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (59% net profit margin). Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €97.0m to €95.0m. EPS estimate also fell from €0.742 per share to €0.62 per share. Net income forecast to grow 12% next year vs 9.3% decline forecast for REITs industry in Spain. Consensus price target broadly unchanged at €7.74. Share price fell 3.8% to €5.85 over the past week. New Risk • Jul 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 59% Last year net profit margin: 89% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (59% net profit margin). Annuncio • Jul 30
An unknown buyer acquired Rivas Futura and Vistahermosa retail parks from Lar España Real Estate SOCIMI, S.A. (BME:LRE) for €130 million. An unknown buyer acquired Rivas Futura and Vistahermosa retail parks from Lar España Real Estate SOCIMI, S.A. (BME:LRE) for €130 million on July 28, 2023. Dentons Europe Abogados, S.L.U. acted as the legal advisor to Lar España Real Estate SOCIMI, S.A. (BME:LRE). Lar España has been advised on this transaction by Cushman & Wakefield, Gentalia and Optima Project.An unknown buyer completed the acquisition of Rivas Futura and Vistahermosa retail parks from Lar España Real Estate SOCIMI, S.A. (BME:LRE) for €130 million on July 28, 2023. Reported Earnings • Jul 29
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €23.8m (up 11% from 2Q 2022). Net income: €3.24m (down 93% from 2Q 2022). Profit margin: 14% (down from 226% in 2Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 21
Consensus EPS estimates increase by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €90.0m to €97.0m. EPS estimate increased from €0.557 to €0.742 per share. Net income forecast to shrink 37% next year vs 36% decline forecast for REITs industry in Spain. Consensus price target up from €7.59 to €7.85. Share price was steady at €5.95 over the past week. Major Estimate Revision • May 26
Consensus EPS estimates increase by 36% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.665 to €0.905. Revenue forecast unchanged at €87.0m. Net income forecast to shrink 74% next year vs 74% decline forecast for REITs industry in Spain. Consensus price target broadly unchanged at €7.55. Share price was steady at €5.00 over the past week. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: EPS: €0.38. Revenue: €25.1m (up 22% from 1Q 2022). Net income: €31.9m (up 384% from 1Q 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 14
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.931 to €0.665. Revenue forecast unchanged from €88.3m at last update. Net income forecast to shrink 18% next year vs 80% decline forecast for REITs industry in Spain. Consensus price target down from €7.65 to €7.46. Share price fell 4.3% to €4.71 over the past week. Buying Opportunity • Mar 24
Now 21% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be €6.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is forecast to decline by 6.8% per annum over the same time period. Buying Opportunity • Mar 09
Now 22% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €6.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is forecast to decline by 7.0% per annum over the same time period. Reported Earnings • Mar 01
Full year 2022 earnings released Full year 2022 results: Revenue: €83.6m (up 5.1% from FY 2021). Net income: €72.9m (up 183% from FY 2021). Profit margin: 87% (up from 32% in FY 2021). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the REITs industry in Spain. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.53, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the REITs industry in Spain. Total returns to shareholders of 4.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.19 per share. Buying Opportunity • Feb 21
Now 20% undervalued Over the last 90 days, the stock is up 7.9%. The fair value is estimated to be €5.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is forecast to decline by 24% per annum over the same time period. Buying Opportunity • Feb 03
Now 20% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be €5.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is forecast to decline by 24% per annum over the same time period. Reported Earnings • Nov 22
Third quarter 2022 earnings released Third quarter 2022 results: EPS: €0.16. Revenue: €22.0m (up 7.9% from 3Q 2021). Net income: €13.5m (up 105% from 3Q 2021). Profit margin: 61% (up from 32% in 3Q 2021). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the REITs industry in Spain. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Director Leticia Iglesias Herraiz was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Oct 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €0.53 to €0.64. Revenue forecast unchanged at €84.0m. Net income forecast to shrink 48% next year vs 44% decline forecast for REITs industry in Spain. Consensus price target of €7.55 unchanged from last update. Share price was steady at €3.90 over the past week. Major Estimate Revision • Aug 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €0.59 to €0.65. Revenue forecast unchanged at €84.0m. Net income forecast to shrink 48% next year vs 42% decline forecast for REITs industry in Spain. Consensus price target reaffirmed at €7.77. Share price was steady at €4.81 over the past week. Reported Earnings • Jul 29
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €21.4m (up 12% from 2Q 2021). Net income: €48.3m (up €47.8m from 2Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 2.9% growth forecast for the industry in Spain. Reported Earnings • May 27
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: €0.079. Revenue: €20.6m (down 1.2% from 1Q 2021). Net income: €6.59m (down 8.5% from 1Q 2021). Profit margin: 32% (down from 34% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 59%. Over the next year, revenue is forecast to grow 13%, compared to a 5.1% growth forecast for the industry in Spain. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Director Leticia Iglesias Herraiz was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 05
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: €0.31 (up from €0.63 loss in FY 2020). Revenue: €79.5m (down 18% from FY 2020). Net income: €25.8m (up €79.5m from FY 2020). Profit margin: 32% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 59%. Over the next year, revenue is forecast to grow 6.9%, compared to a 8.1% growth forecast for the reits industry in Spain. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Price Target Changed • Dec 23
Price target increased to €7.80 Up from €7.24, the current price target is an average from 3 analysts. New target price is 58% above last closing price of €4.94. Stock is up 3.0% over the past year. The company is forecast to post earnings per share of €0.25 next year compared to a net loss per share of €0.63 last year. Reported Earnings • Dec 15
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: EPS: €0.079 (down from €0.13 in 3Q 2020). Revenue: €20.4m (down 15% from 3Q 2020). Net income: €6.59m (down 42% from 3Q 2020). Profit margin: 32% (down from 47% in 3Q 2020). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Over the next year, revenue is forecast to grow 3.5%, compared to a 8.8% growth forecast for the industry in Spain. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 01
Second quarter 2021 earnings released The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €19.1m (down 21% from 2Q 2020). Net income: €515.0k (up €41.7m from 2Q 2020). Profit margin: 2.7% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 02
New 90-day high: €5.10 The company is up 5.0% from its price of €4.85 on 01 December 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.04 per share. Reported Earnings • Feb 28
Full year 2020 earnings released: €0.63 loss per share (vs €0.90 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €96.9m (up 14% from FY 2019). Net loss: €53.7m (down 167% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 47%. Over the next year, revenue is expected to shrink by 2.5% compared to a 3.6% growth forecast for the REITs industry in Spain. Price Target Changed • Feb 24
Price target lowered to €6.87 Down from €7.62, the current price target is an average from 3 analysts. The new target price is 46% above the current share price of €4.70. As of last close, the stock is down 31% over the past year. Price Target Changed • Feb 12
Price target lowered to €7.28 Down from €8.07, the current price target is an average from 3 analysts. The new target price is 57% above the current share price of €4.65. As of last close, the stock is down 35% over the past year. Is New 90 Day High Low • Nov 24
New 90-day high: €4.60 The company is up 6.0% from its price of €4.34 on 25 August 2020. The Spanish market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.14 per share. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.13 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: €24.1m (up 22% from 3Q 2019). Net income: €11.3m (down 78% from 3Q 2019). Profit margin: 47% (down from 255% in 3Q 2019). The decrease in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 22% share price gain to €3.90, the stock is trading at a trailing P/E ratio of 14.6x, up from the previous P/E ratio of 12x. This compares to an average P/E of 19x in the REITs industry in Spain. Total return to shareholders over the past three years is a loss of 38%. Is New 90 Day High Low • Oct 26
New 90-day low: €3.38 The company is down 23% from its price of €4.38 on 28 July 2020. The Spanish market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.61 per share. Is New 90 Day High Low • Oct 08
New 90-day low: €3.72 The company is down 21% from its price of €4.73 on 09 July 2020. The Spanish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.41 per share. Major Estimate Revision • Sep 23
Analysts update estimates The 2020 consensus revenue estimate increased from €72.5m to €85.5m. Earning per share (EPS) estimate was unchanged from the last update at -€0.85. The REITs industry in Spain is expected to see a 11% decline in net income next year. The consensus price target of €8.07 was unchanged from the last update. Share price is down by 13% to €3.91 over the past week.