Hamborner REIT AG

WBAG:HAB2 Stock Report

Market Cap: €464.5m

Hamborner REIT Valuation

Is HAB2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HAB2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€9.30
Fair Value
38.5% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: HAB2 (€5.72) is trading below our estimate of fair value (€9.3)

Significantly Below Fair Value: HAB2 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAB2?

Key metric: As HAB2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HAB2. This is calculated by dividing HAB2's market cap by their current earnings.
What is HAB2's PE Ratio?
PE Ratio33x
Earnings€14.07m
Market Cap€464.47m

Price to Earnings Ratio vs Peers

How does HAB2's PE Ratio compare to its peers?

The above table shows the PE ratio for HAB2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
SGR.UN Slate Grocery REIT
15.7xn/aCA$858.5m
WEHB Wereldhave Belgium
14.6xn/a€508.9m
WSR Whitestone REIT
20.4x-3.07%US$646.8m
NRR NewRiver REIT
14.2x15.99%UK£337.6m
HAB2 Hamborner REIT
33x-15.03%€464.5m

Price-To-Earnings vs Peers: HAB2 is expensive based on its Price-To-Earnings Ratio (33x) compared to the peer average (16.3x).


Price to Earnings Ratio vs Industry

How does HAB2's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HAB2 33.0xIndustry Avg. 14.2xNo. of Companies7PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAB2 is expensive based on its Price-To-Earnings Ratio (33x) compared to the European Retail REITs industry average (14.3x).


Price to Earnings Ratio vs Fair Ratio

What is HAB2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAB2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HAB2's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HAB2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.72
€8.33
+45.63%
16.48%€11.00€7.15n/a5
Jul ’26€5.99
€8.33
+39.07%
16.48%€11.00€7.15n/a5
Jun ’26€6.60
€8.28
+25.51%
15.19%€11.00€7.15n/a6
May ’26€6.23
€7.74
+24.24%
4.61%€8.05€7.15n/a5
Apr ’26€6.03
€7.84
+30.02%
4.41%€8.05€7.15n/a5
Mar ’26€6.07
€7.81
+28.67%
5.19%€8.05€7.00n/a5
Feb ’26€6.42
€8.05
+25.39%
7.09%€9.00€7.20n/a5
Jan ’26€6.34
€8.05
+26.97%
7.09%€9.00€7.20n/a5
Dec ’25€6.48
€8.05
+24.23%
7.09%€9.00€7.20n/a5
Nov ’25€6.51
€8.05
+23.66%
7.09%€9.00€7.20n/a5
Oct ’25€6.66
€8.05
+20.87%
7.09%€9.00€7.20n/a5
Sep ’25€6.52
€8.05
+23.47%
7.09%€9.00€7.20n/a5
Aug ’25€6.52
€8.05
+23.47%
7.09%€9.00€7.20n/a5
Jul ’25€6.56
€8.05
+22.71%
7.09%€9.00€7.20€5.995
Jun ’25€6.60
€8.05
+21.97%
7.09%€9.00€7.20€6.605
May ’25€6.46
€8.05
+24.61%
7.93%€9.00€7.20€6.234
Apr ’25€6.88
€8.07
+17.25%
9.13%€9.00€7.20€6.033
Mar ’25€6.34
€8.33
+31.44%
5.66%€9.00€8.00€6.073
Feb ’25€6.45
€8.63
+33.85%
5.21%€9.00€8.00€6.423
Jan ’25€6.79
€8.83
+30.09%
7.06%€9.50€8.00€6.343
Dec ’24€6.56
€8.83
+34.65%
7.06%€9.50€8.00€6.483
Nov ’24€6.20
€8.83
+42.47%
7.06%€9.50€8.00€6.513
Oct ’24€6.44
€8.83
+37.16%
7.06%€9.50€8.00€6.663
Sep ’24€6.55
€8.83
+34.86%
7.06%€9.50€8.00€6.523
Aug ’24€6.43
€8.63
+34.14%
7.53%€9.50€8.00€6.524
Jul ’24€6.41
€8.83
+37.81%
7.06%€9.50€8.00€6.563
AnalystConsensusTarget
Consensus Narrative from 5 Analysts
€8.34
Fair Value
31.5% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


Discover undervalued companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/24 23:31
End of Day Share Price 2025/07/24 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Hamborner REIT AG is covered by 11 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andre RemkeBaader Helvea Equity Research
Kai KloseBerenberg
Thomas CarstairsCommerzbank AG