XTRA:PAG

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PREOS Global Office Real Estate & Technology

Executive Summary

PREOS Global Office Real Estate & Technology AG focuses on the purchase, lease, and sell of commercial real estate properties in Germany. More Details


Snowflake Analysis

Undervalued with reasonable growth potential.

Share Price & News

How has PREOS Global Office Real Estate & Technology's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PAG is more volatile than 75% of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: PAG's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of German stocks.


Market Performance


7 Day Return

6.9%

PAG

1.5%

DE REITs

0.4%

DE Market


1 Year Return

53.3%

PAG

-3.7%

DE REITs

2.3%

DE Market

Return vs Industry: PAG exceeded the German REITs industry which returned -5% over the past year.

Return vs Market: PAG exceeded the German Market which returned 2% over the past year.


Shareholder returns

PAGIndustryMarket
7 Day6.9%1.5%0.4%
30 Day-38.8%-1.3%9.4%
90 Day-43.6%-8.2%4.0%
1 Year53.3%53.3%-0.3%-3.7%5.6%2.3%
3 Yearn/a30.9%16.7%4.4%-4.7%
5 Yearn/a9.8%-6.7%26.8%9.0%

Long-Term Price Volatility Vs. Market

How volatile is PREOS Global Office Real Estate & Technology's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PREOS Global Office Real Estate & Technology undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PAG (€9.3) is trading below our estimate of fair value (€40.47)

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


Price To Earnings Ratio

PE vs Industry: PAG is good value based on its PE Ratio (6.8x) compared to the DE REITs industry average (9.1x).

PE vs Market: PAG is good value based on its PE Ratio (6.8x) compared to the German market (23.2x).


Price to Earnings Growth Ratio

PEG Ratio: PAG is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: PAG is overvalued based on its PB Ratio (3.9x) compared to the DE REITs industry average (1.4x).


Next Steps

Future Growth

How is PREOS Global Office Real Estate & Technology forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

22.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAG's forecast earnings growth (22.7% per year) is above the savings rate (0.2%).

Earnings vs Market: PAG's earnings (22.7% per year) are forecast to grow slower than the German market (27.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PAG's revenue (30.3% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: PAG's revenue (30.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PAG's Return on Equity is forecast to be low in 3 years time (18%).


Next Steps

Past Performance

How has PREOS Global Office Real Estate & Technology performed over the past 5 years?

78.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAG has a large one-off gain of €91.8M impacting its December 31 2019 financial results.

Growing Profit Margin: PAG's current net profit margins are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: PAG has become profitable over the past 5 years, growing earnings by 78.4% per year.

Accelerating Growth: PAG's earnings growth over the past year (661.1%) exceeds its 5-year average (78.4% per year).

Earnings vs Industry: PAG earnings growth over the past year (661.1%) exceeded the REITs industry -33.7%.


Return on Equity

High ROE: Whilst PAG's Return on Equity (25.19%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is PREOS Global Office Real Estate & Technology's financial position?


Financial Position Analysis

Short Term Liabilities: PAG's short term assets (€106.3M) do not cover its short term liabilities (€150.3M).

Long Term Liabilities: PAG's short term assets (€106.3M) do not cover its long term liabilities (€499.4M).


Debt to Equity History and Analysis

Debt Level: PAG's debt to equity ratio (216.6%) is considered high.

Reducing Debt: Insufficient data to determine if PAG's debt to equity ratio has reduced over the past 5 years.

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

Interest Coverage: PAG's interest payments on its debt are not well covered by EBIT (0x coverage).


Balance Sheet


Next Steps

Dividend

What is PREOS Global Office Real Estate & Technology current dividend yield, its reliability and sustainability?

9.02%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PAG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PAG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PAG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PAG's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PAG's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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


CEO

Frederik Mehlitz (55 yo)

2.25yrs

Tenure

Mr. Frederik Mehlitz serves as the Chief Executive Officer and Member of Executive Board at PREOS Real Estate AG since September 1, 2018. He serves as Managing Director of PREOS Immobilien GmbH; PREOS 1. B...


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

PREOS Global Office Real Estate & Technology AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PREOS Global Office Real Estate & Technology AG
  • Ticker: PAG
  • Exchange: XTRA
  • Founded:
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: €935.211m
  • Shares outstanding: 107.50m
  • Website: https://www.preos.de

Number of Employees


Location

  • PREOS Global Office Real Estate & Technology AG
  • Landsteinerstrasse 6
  • Leipzig
  • Saxony
  • 4103
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PAGXTRA (XETRA Trading Platform)YesShare CapitalDEEURDec 2018
PAGMUN (Boerse Muenchen)YesShare CapitalDEEURDec 2018
PAGDB (Deutsche Boerse AG)YesShare CapitalDEEURDec 2018

Biography

PREOS Global Office Real Estate & Technology AG focuses on the purchase, lease, and sell of commercial real estate properties in Germany. Its portfolio mainly comprises office properties. The company was f...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 19:34
End of Day Share Price2020/12/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.