BWP Trust Valuation

Is GJZ 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: GJZ (€2.18) is trading below our estimate of fair value (€2.42)

Significantly Below Fair Value: GJZ is trading below fair value, but not by a significant amount.


Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

GJZ 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/Revenue18.5x
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Sales Ratio vs Peers

How does GJZ's PS Ratio compare to its peers?

The above table shows the PS ratio for GJZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.5x
HABA Hamborner REIT
5x-1.4%€527.1m
DKG Deutsche Konsum REIT-AG
1x-5.3%€100.5m
AOX alstria office REIT-AG
2.7x-8.6%€623.2m
GIB GSW Immobilien
13.4xn/a€5.0b
GJZ BWP Trust
15.4x7.8%€2.5b

Price-To-Sales vs Peers: GJZ is expensive based on its Price-To-Sales Ratio (15.4x) compared to the peer average (2.9x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a40.2%
n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a40.2%
n/an/an/a
No more companies

Price-To-Sales vs Industry: GJZ is expensive based on its Price-To-Sales Ratio (15.4x) compared to the European Retail REITs industry average (6x).


Price to Sales Ratio vs Fair Ratio

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

GJZ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio15.4x
Fair PS Ratio12.1x

Price-To-Sales vs Fair Ratio: GJZ is expensive based on its Price-To-Sales Ratio (15.4x) compared to the estimated Fair Price-To-Sales Ratio (12.1x).


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 GJZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.18
€2.19
+0.7%
4.7%€2.33€2.03n/a8
Jun ’25€2.23
€2.19
-2.0%
4.7%€2.32€2.02n/a8
May ’25€2.14
€2.15
+0.5%
4.4%€2.30€2.00n/a7
Apr ’25€2.13
€2.13
+0.06%
3.4%€2.20€2.00n/a7
Mar ’25€2.06
€2.13
+3.4%
3.4%€2.20€2.00n/a7
Feb ’25€1.98
€2.13
+7.4%
3.5%€2.21€2.00n/a6
Jan ’25€2.13
€2.14
+0.5%
3.3%€2.22€2.02n/a7
Dec ’24€2.04
€2.10
+2.6%
4.7%€2.21€1.91n/a8
Nov ’24€1.93
€2.10
+8.8%
4.7%€2.21€1.91n/a8
Oct ’24€2.02
€2.09
+3.3%
5.6%€2.27€1.87n/a8
Sep ’24€2.15
€2.09
-2.7%
5.6%€2.27€1.87n/a8
Aug ’24€2.17
€2.13
-1.8%
5.7%€2.26€1.89n/a8
Jul ’24€2.16
€2.19
+1.3%
6.2%€2.39€1.92n/a8
Jun ’24€2.22
€2.21
-0.6%
6.7%€2.40€1.94€2.237
May ’24€2.28
€2.23
-2.1%
4.7%€2.38€2.04€2.146
Apr ’24€2.27
€2.32
+2.3%
4.3%€2.48€2.13€2.137
Mar ’24€2.40
€2.36
-1.8%
4.1%€2.53€2.17€2.068
Feb ’24€2.50
€2.40
-4.0%
4.1%€2.60€2.25€1.988
Jan ’24€2.44
€2.40
-1.7%
4.6%€2.59€2.24€2.138
Dec ’23€2.64
€2.40
-9.0%
4.6%€2.59€2.24€2.048
Nov ’23€2.59
€2.54
-2.0%
5.9%€2.87€2.35€1.938
Oct ’23€2.37
€2.54
+7.1%
5.9%€2.87€2.35€2.028
Sep ’23€2.62
€2.54
-3.0%
5.9%€2.87€2.35€2.158
Aug ’23€2.83
€2.44
-13.6%
6.3%€2.82€2.28€2.178
Jul ’23€2.52
€2.37
-5.7%
5.4%€2.69€2.23€2.168
Jun ’23€2.67
€2.45
-8.5%
5.5%€2.72€2.25€2.228

Analyst Forecast: Target price is lower than the current share price.


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