company background image
DMRE

DEMIRE Deutsche Mittelstand Real Estate XTRA:DMRE Stock Report

Last Price

€3.69

Market Cap

€389.3m

7D

6.3%

1Y

-13.2%

Updated

12 Aug, 2022

Data

Company Financials +
DMRE fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance4/6
Financial Health3/6
Dividends3/6

DMRE Stock Overview

DEMIRE Deutsche Mittelstand Real Estate AG engages in the acquisition, management, and leasing of commercial real estate properties for medium-sized companies in Germany.

DEMIRE Deutsche Mittelstand Real Estate Competitors

Price History & Performance

Summary of all time highs, changes and price drops for DEMIRE Deutsche Mittelstand Real Estate
Historical stock prices
Current Share Price€3.69
52 Week High€4.78
52 Week Low€3.11
Beta0.32
1 Month Change8.21%
3 Month Change-17.63%
1 Year Change-13.18%
3 Year Change-24.69%
5 Year Change-0.27%
Change since IPO-76.94%

Recent News & Updates

Shareholder Returns

DMREDE Real EstateDE Market
7D6.3%4.5%1.0%
1Y-13.2%-39.7%-20.4%

Return vs Industry: DMRE exceeded the German Real Estate industry which returned -40.2% over the past year.

Return vs Market: DMRE exceeded the German Market which returned -20.5% over the past year.

Price Volatility

Is DMRE's price volatile compared to industry and market?
DMRE volatility
DMRE Average Weekly Movement5.4%
Real Estate Industry Average Movement5.4%
Market Average Movement5.6%
10% most volatile stocks in DE Market10.2%
10% least volatile stocks in DE Market2.7%

Stable Share Price: DMRE is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: DMRE's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200632Ingo Hartliefhttps://www.demire.ag

DEMIRE Deutsche Mittelstand Real Estate AG engages in the acquisition, management, and leasing of commercial real estate properties for medium-sized companies in Germany. It operates through Core Portfolio and Fair Value REIT segments. The company offers office, retail, hotel, and logistic properties.

DEMIRE Deutsche Mittelstand Real Estate Fundamentals Summary

How do DEMIRE Deutsche Mittelstand Real Estate's earnings and revenue compare to its market cap?
DMRE fundamental statistics
Market Cap€389.34m
Earnings (TTM)€56.88m
Revenue (TTM)€208.07m

6.8x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DMRE income statement (TTM)
Revenue€208.07m
Cost of Revenue€139.90m
Gross Profit€68.17m
Other Expenses€11.30m
Earnings€56.88m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 17, 2022

Earnings per share (EPS)0.54
Gross Margin32.76%
Net Profit Margin27.33%
Debt/Equity Ratio148.6%

How did DMRE perform over the long term?

See historical performance and comparison

Dividends

8.4%

Current Dividend Yield

57%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

DMRE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.8x
Enterprise Value/EBITDA22.9x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

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

DMRE PE Ratio vs Peers
The above table shows the PE ratio for DMRE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average45.3x
WCMK WCM Beteiligungs- und Grundbesitz-AG
72.5xn/a€707.3m
DWB Dinkelacker
45xn/a€430.9m
STG STINAG Stuttgart Invest
51.8xn/a€235.2m
DRE2 Deutsche Real Estate
11.9xn/a€253.2m
DMRE DEMIRE Deutsche Mittelstand Real Estate
6.8x4.9%€389.3m

Price-To-Earnings vs Peers: DMRE is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (45.3x).


Price to Earnings Ratio vs Industry

How does DMRE's PE Ratio compare vs other companies in the DE Real Estate Industry?

Price-To-Earnings vs Industry: DMRE is good value based on its Price-To-Earnings Ratio (6.8x) compared to the German Real Estate industry average (13.7x)


Price to Earnings Ratio vs Fair Ratio

What is DMRE'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.

DMRE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio10.4x

Price-To-Earnings vs Fair Ratio: DMRE is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (10.4x).


Share Price vs Fair Value

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

Below Fair Value: DMRE (€3.69) is trading above our estimate of fair value (€2.99)

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


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


Discover undervalued companies

Future Growth

How is DEMIRE Deutsche Mittelstand Real Estate forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


4.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DMRE's forecast earnings growth (4.9% per year) is above the savings rate (-0.01%).

Earnings vs Market: DMRE's earnings (4.9% per year) are forecast to grow slower than the German market (8.8% per year).

High Growth Earnings: DMRE's earnings are forecast to grow, but not significantly.

Revenue vs Market: DMRE's revenue is expected to decline over the next 3 years (-26.1% per year).

High Growth Revenue: DMRE's revenue is forecast to decline over the next 3 years (-26.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DMRE's Return on Equity is forecast to be low in 3 years time (7.5%).


Discover growth companies

Past Performance

How has DEMIRE Deutsche Mittelstand Real Estate performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


3.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: DMRE has a large one-off gain of €47.5M impacting its March 31 2022 financial results.

Growing Profit Margin: DMRE's current net profit margins (27.3%) are higher than last year (5.8%).


Past Earnings Growth Analysis

Earnings Trend: DMRE's earnings have grown by 3.4% per year over the past 5 years.

Accelerating Growth: DMRE's earnings growth over the past year (413.8%) exceeds its 5-year average (3.4% per year).

Earnings vs Industry: DMRE earnings growth over the past year (413.8%) exceeded the Real Estate industry 6.9%.


Return on Equity

High ROE: DMRE's Return on Equity (11.2%) is considered low.


Discover strong past performing companies

Financial Health

How is DEMIRE Deutsche Mittelstand Real Estate's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: DMRE's short term assets (€166.3M) exceed its short term liabilities (€51.9M).

Long Term Liabilities: DMRE's short term assets (€166.3M) do not cover its long term liabilities (€1.1B).


Debt to Equity History and Analysis

Debt Level: DMRE's net debt to equity ratio (125.7%) is considered high.

Reducing Debt: DMRE's debt to equity ratio has reduced from 214.4% to 148.6% over the past 5 years.

Debt Coverage: DMRE's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: DMRE's interest payments on its debt are well covered by EBIT (4.5x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is DEMIRE Deutsche Mittelstand Real Estate current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


8.40%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: DMRE's dividend (8.4%) is higher than the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: DMRE's dividend (8.4%) is in the top 25% of dividend payers in the German market (4.51%)


Stability and Growth of Payments

Stable Dividend: DMRE has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: DMRE has only been paying a dividend for 2 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (57.5%), DMRE's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: DMRE is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Ingo Hartlief (57 yo)

3.67yrs

Tenure

€789,599

Compensation

Mr. Ingo Hartlief, FRICS has been Deputy Chairman of the Supervisory Board at Fair Value REIT-AG since May 20, 2019. Mr. Hartlief served as Chairman of the Management Board and Chief Executive Officer of F...


CEO Compensation Analysis

Compensation vs Market: Ingo's total compensation ($USD809.60K) is about average for companies of similar size in the German market ($USD1.15M).

Compensation vs Earnings: Ingo's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: DMRE's management team is considered experienced (3.5 years average tenure).


Board Members

Experienced Board: DMRE's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

DEMIRE Deutsche Mittelstand Real Estate AG's employee growth, exchange listings and data sources


Key Information

  • Name: DEMIRE Deutsche Mittelstand Real Estate AG
  • Ticker: DMRE
  • Exchange: XTRA
  • Founded: 2006
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: €389.341m
  • Shares outstanding: 105.51m
  • Website: https://www.demire.ag

Number of Employees


Location

  • DEMIRE Deutsche Mittelstand Real Estate AG
  • Robert-Bosch-Strasse 11
  • Langen
  • Hessen
  • 63225
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/12 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.