Schroder European Real Estate Investment Trust Valuation

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

SEREL (£0.71) is trading above our estimate of [[fair value]] (£0.22)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: SEREL (£0.71) is trading above our estimate of fair value (£0.22)

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

Key Valuation Metric

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

Key metric: As SEREL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SEREL. This is calculated by dividing SEREL's market cap by their current revenue.
What is SEREL's PS Ratio?
PS Ratio	5.3x
Sales	€21.25m
Market Cap	€113.11m

SEREL 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/Revenue	7.3x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SEREL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	6.2x
AEWU AEW UK REIT	6.2x	-7.8%	UK£150.7m
TOWN Town Centre Securities	1.7x	-1.0%	UK£55.5m
AIRE Alternative Income REIT	7x	n/a	UK£55.2m
EPIC Ediston Property Investment	9.8x	n/a	UK£145.4m
SEREL Schroder European Real Estate Investment Trust	5.3x	5.2%	UK£94.4m

Price-To-Sales vs Peers: SEREL is good value based on its Price-To-Sales Ratio (5.3x) compared to the peer average (6.2x).

Price to Sales Ratio vs Industry

How does SEREL's PS Ratio compare vs other companies in the GB REITs Industry?

0 Companies	Price / Sales	Estimated Growth	Market Cap

No more companies available in this PS range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SEREL is good value based on its Price-To-Sales Ratio (5.3x) compared to the European REITs industry average (8.2x).

Price to Sales Ratio vs Fair Ratio

What is SEREL'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.

SEREL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate SEREL's Price-To-Sales 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?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Big Yellow Group

UK£2.2b

Big Yellow is the UK's brand leader in self storage.

BYG

UK£11.04

-4.3%

0.9%

Immobiliare Grande Distribuzione SIIQ

€251.6m

Immobiliare Grande Distribuzione SIIQ S.p.A.

0STP

€2.25

3.8%

2.7%

Care REIT

UK£359.3m

Impact Healthcare REIT plc acquires, renovates, extends and redevelops high quality healthcare real estate assets in the UK and lets these assets on long-term full repairing and insuring leases to high-quality established healthcare operators which offer good quality care, under leases which provide the Company with attractive levels of rent cover.

CRT

UK£0.87

5.7%

1.0%