AEON REIT Investment Corporation

DB:HB0 Stock Report

Market Cap: €1.7b

AEON REIT Investment Valuation

Is HB0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 HB0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HB0 (€761.7) is trading below our estimate of fair value (€840.86)

Significantly Below Fair Value: HB0 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 HB0?

Key metric: As HB0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HB0. This is calculated by dividing HB0's market cap by their current earnings.
What is HB0's PE Ratio?
PE Ratio19.8x
EarningsJP¥13.59b
Market CapJP¥268.53b

Price to Earnings Ratio vs Peers

How does HB0's PE Ratio compare to its peers?

The above table shows the PE ratio for HB0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average65x
HABA Hamborner REIT
63x11.0%€515.7m
RGN Region Group
144.5x21.3%AU$2.5b
GTY Getty Realty
28.6x10.8%US$1.8b
CRR.UN Crombie Real Estate Investment Trust
24.1xn/aCA$2.6b
HB0 AEON REIT Investment
19.8x1.3%€268.5b

Price-To-Earnings vs Peers: HB0 is good value based on its Price-To-Earnings Ratio (19.8x) compared to the peer average (65x).

Price to Earnings Ratio vs Industry

How does HB0's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HB0 19.8xIndustry Avg. 22.5xNo. of Companies4PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HB0 is good value based on its Price-To-Earnings Ratio (19.8x) compared to the European Retail REITs industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is HB0'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.

HB0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HB0'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 HB0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€761.70
€903.96
+18.7%
5.2%€990.08€836.77n/a7
Nov ’25€749.80
€902.30
+20.3%
4.2%€977.88€843.96n/a7
Oct ’25€797.80
€926.79
+16.2%
4.2%€1,002.50€865.21n/a7
Sep ’25€808.90
€935.22
+15.6%
4.4%€1,003.97€866.47n/a6
Aug ’25€775.70
€854.78
+10.2%
3.2%€879.03€803.76n/a5
Jul ’25€742.60
€901.70
+21.4%
2.8%€948.41€877.28n/a5
Jun ’25n/a
€897.42
0%
3.2%€945.27€874.37n/a4
May ’25n/a
€936.37
0%
5.8%€1,016.17€884.67n/a4
Apr ’25n/a
€1,018.80
0%
5.9%€1,095.69€930.39n/a5
Mar ’25n/a
€1,018.80
0%
5.9%€1,095.69€930.39n/a5
Feb ’25n/a
€1,018.80
0%
5.9%€1,095.69€930.39n/a5
Jan ’25n/a
€1,031.50
0%
6.3%€1,107.89€915.44n/a6
Dec ’24n/a
€1,031.50
0%
6.3%€1,107.89€915.44n/a6
Nov ’24n/a
€1,031.50
0%
6.3%€1,107.89€915.44€749.806
Oct ’24n/a
€1,031.50
0%
6.3%€1,107.89€915.44€797.806
Sep ’24n/a
€1,047.11
0%
6.1%€1,122.36€927.39€808.906
Aug ’24n/a
€1,047.11
0%
6.1%€1,122.36€927.39€775.706
Jul ’24n/a
€1,028.46
0%
6.4%€1,111.54€918.45€742.605
Jun ’24n/a
€1,087.83
0%
6.9%€1,186.84€980.67n/a4
May ’24n/a
€1,087.83
0%
6.9%€1,186.84€980.67n/a4
Apr ’24n/a
€1,182.65
0%
6.7%€1,307.00€1,095.05n/a5
Mar ’24n/a
€1,198.49
0%
5.9%€1,307.32€1,095.32n/a5
Feb ’24n/a
€1,198.49
0%
5.9%€1,307.32€1,095.32n/a5
Jan ’24n/a
€1,198.49
0%
5.9%€1,307.32€1,095.32n/a5
Dec ’23n/a
€1,198.49
0%
5.9%€1,307.32€1,095.32n/a5
Nov ’23n/a
€1,198.49
0%
5.9%€1,307.32€1,095.32n/a5

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

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