We’ve recently updated our valuation analysis.

Urban Logistics REIT Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 SHED?

Other financial metrics that can be useful for relative valuation.

SHED 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/Revenue21.2x
Enterprise Value/EBITDA30.3x
PEG Ratio-0.2x

Price to Earnings Ratio vs Peers

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

SHED PE Ratio vs Peers
The above table shows the PE ratio for SHED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average2.5x
WHR Warehouse REIT
2.7xn/aUK£523.4m
LMP LondonMetric Property
2.4x-36.1%UK£1.7b
BBOX Tritax Big Box REIT
2.5x-2.1%UK£2.6b
SGRO SEGRO
2.3x-18.4%UK£9.3b
SHED Urban Logistics REIT
4x-24.9%UK£679.6m

Price-To-Earnings vs Peers: SHED is expensive based on its Price-To-Earnings Ratio (4x) compared to the peer average (2.5x).


Price to Earnings Ratio vs Industry

How does SHED's PE Ratio compare vs other companies in the GB REITs Industry?

Price-To-Earnings vs Industry: SHED is good value based on its Price-To-Earnings Ratio (4x) compared to the UK REITs industry average (6x)


Price to Earnings Ratio vs Fair Ratio

What is SHED'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.

SHED PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4x
Fair PE Ratio9x

Price-To-Earnings vs Fair Ratio: SHED is good value based on its Price-To-Earnings Ratio (4x) compared to the estimated Fair Price-To-Earnings Ratio (9x).


Share Price vs Fair Value

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

Below Fair Value: SHED (£1.44) is trading below our estimate of fair value (£3.46)

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


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 and analysts are within a statistically confident range of agreement.


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