Arena REIT

ASX:ARF Stock Report

Market Cap: AU$1.5b

Arena REIT Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 ARF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ARF (A$3.86) is trading above our estimate of fair value (A$0.95)

Significantly Below Fair Value: ARF is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ARF. This is calculated by dividing ARF's market cap by their current earnings.
What is ARF's PE Ratio?
PE Ratio26.7x
EarningsAU$57.51m
Market CapAU$1.53b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ARF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38x
RFF Rural Funds Group
8x-6.5%AU$668.4m
ASK Abacus Storage King
10.9x-1.7%AU$1.5b
NSR National Storage REIT
112.2x19.2%AU$3.2b
CNI Centuria Capital Group
20.7x13.3%AU$1.5b
ARF Arena REIT
26.7x7.2%AU$1.5b

Price-To-Earnings vs Peers: ARF is good value based on its Price-To-Earnings Ratio (26.7x) compared to the peer average (38x).

Price to Earnings Ratio vs Industry

How does ARF's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ARF 26.7xIndustry Avg. 18.8xNo. of Companies7PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ARF is expensive based on its Price-To-Earnings Ratio (26.7x) compared to the Global Specialized REITs industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is ARF'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.

ARF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.7x
Fair PE Ratio20.5x

Price-To-Earnings vs Fair Ratio: ARF is expensive based on its Price-To-Earnings Ratio (26.7x) compared to the estimated Fair Price-To-Earnings Ratio (20.5x).

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 ARF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$3.86
AU$4.26
+10.4%
5.0%AU$4.65AU$3.95n/a8
Dec ’25AU$4.14
AU$4.25
+2.7%
5.2%AU$4.65AU$3.89n/a8
Nov ’25AU$3.95
AU$4.25
+7.7%
5.2%AU$4.65AU$3.89n/a8
Oct ’25AU$4.19
AU$4.14
-1.3%
3.8%AU$4.40AU$3.89n/a8
Sep ’25AU$3.98
AU$3.98
+0.08%
9.7%AU$4.40AU$2.98n/a9
Aug ’25AU$3.92
AU$3.92
+0.09%
10.3%AU$4.40AU$2.98n/a8
Jul ’25AU$3.93
AU$3.89
-1.0%
9.9%AU$4.40AU$2.98n/a9
Jun ’25AU$3.74
AU$3.87
+3.5%
9.4%AU$4.40AU$2.98n/a9
May ’25AU$3.67
AU$3.87
+5.4%
9.4%AU$4.40AU$2.98n/a9
Apr ’25AU$3.97
AU$3.83
-3.6%
9.9%AU$4.40AU$2.98n/a8
Mar ’25AU$3.40
AU$3.83
+12.6%
9.9%AU$4.40AU$2.98n/a8
Feb ’25AU$3.50
AU$3.94
+12.6%
5.6%AU$4.30AU$3.60n/a7
Jan ’25AU$3.71
AU$3.92
+5.7%
7.7%AU$4.35AU$3.45n/a7
Dec ’24AU$3.31
AU$3.92
+18.5%
7.7%AU$4.35AU$3.45AU$4.147
Nov ’24AU$3.26
AU$3.97
+21.9%
6.1%AU$4.35AU$3.71AU$3.957
Oct ’24AU$3.36
AU$4.05
+20.4%
6.7%AU$4.36AU$3.71AU$4.197
Sep ’24AU$3.70
AU$3.95
+6.8%
9.1%AU$4.36AU$3.28AU$3.988
Aug ’24AU$3.82
AU$3.95
+3.4%
9.1%AU$4.36AU$3.28AU$3.928
Jul ’24AU$3.76
AU$3.95
+5.0%
8.4%AU$4.36AU$3.28AU$3.939
Jun ’24AU$3.74
AU$3.94
+5.4%
8.5%AU$4.36AU$3.28AU$3.749
May ’24AU$3.76
AU$3.94
+4.8%
8.5%AU$4.36AU$3.28AU$3.679
Apr ’24AU$3.63
AU$3.94
+8.6%
8.5%AU$4.36AU$3.28AU$3.979
Mar ’24AU$3.77
AU$3.94
+4.6%
8.5%AU$4.36AU$3.28AU$3.409
Feb ’24AU$3.73
AU$4.06
+9.0%
7.2%AU$4.45AU$3.56AU$3.507
Jan ’24AU$3.83
AU$4.08
+6.6%
7.3%AU$4.45AU$3.56AU$3.718
Dec ’23AU$3.98
AU$4.14
+4.0%
7.8%AU$4.49AU$3.56AU$3.318

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 04:47
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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 here.

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 .

Analyst Sources

Arena REIT is covered by 16 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightBarclay Pearce Capital Pty Limited
Steven TjiaBarrenjoey Markets Pty Limited
Benjamin BrayshawBarrenjoey Markets Pty Limited