IGB Real Estate Investment Trust

KLSE:IGBREIT Stock Report

Market Cap: RM 7.9b

IGB Real Estate Investment Trust Valuation

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

Below Fair Value: IGBREIT (MYR2.18) is trading below our estimate of fair value (MYR2.28)

Significantly Below Fair Value: IGBREIT 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 IGBREIT?

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

The above table shows the Price to Earnings ratio for IGBREIT. This is calculated by dividing IGBREIT's market cap by their current earnings.
What is IGBREIT's PE Ratio?
PE Ratio22.5x
EarningsRM 350.42m
Market CapRM 7.88b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IGBREIT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.4x
SUNREIT Sunway Real Estate Investment Trust
16.1x4.1%RM 6.2b
PAVREIT Pavilion Real Estate Investment Trust
11.8x-3.6%RM 5.4b
CLMT CapitaLand Malaysia Trust
10.1x-7.8%RM 1.9b
KIPREIT KIP Real Estate Investment Trust
11.5x8.7%RM 541.3m
IGBREIT IGB Real Estate Investment Trust
22.5x7.2%RM 7.9b

Price-To-Earnings vs Peers: IGBREIT is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the peer average (12.4x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IGBREIT 22.5xIndustry Avg. 13.8xNo. of Companies5PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IGBREIT is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the Asian Retail REITs industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is IGBREIT'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.

IGBREIT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.5x
Fair PE Ratio16x

Price-To-Earnings vs Fair Ratio: IGBREIT is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the estimated Fair Price-To-Earnings Ratio (16x).

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 IGBREIT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 2.18
RM 2.15
-1.5%
8.5%RM 2.45RM 1.83n/a11
Dec ’25RM 2.09
RM 2.15
+2.7%
8.5%RM 2.45RM 1.83n/a11
Nov ’25RM 2.14
RM 2.15
+0.3%
8.5%RM 2.45RM 1.83n/a11
Oct ’25RM 2.13
RM 2.03
-4.6%
9.1%RM 2.45RM 1.77n/a11
Sep ’25RM 1.97
RM 2.03
+3.0%
8.9%RM 2.42RM 1.77n/a11
Aug ’25RM 1.97
RM 2.03
+3.0%
8.9%RM 2.42RM 1.77n/a11
Jul ’25RM 1.85
RM 1.92
+3.9%
10.2%RM 2.42RM 1.68n/a11
Jun ’25RM 1.81
RM 1.92
+6.2%
10.2%RM 2.42RM 1.68n/a11
May ’25RM 1.83
RM 1.92
+5.1%
10.2%RM 2.42RM 1.68n/a11
Apr ’25RM 1.73
RM 1.90
+9.6%
10.2%RM 2.42RM 1.68n/a11
Mar ’25RM 1.72
RM 1.90
+10.2%
10.2%RM 2.42RM 1.68n/a11
Feb ’25RM 1.76
RM 1.91
+8.3%
9.9%RM 2.42RM 1.68n/a12
Jan ’25RM 1.72
RM 1.88
+9.5%
8.8%RM 2.30RM 1.66n/a12
Dec ’24RM 1.71
RM 1.88
+10.1%
8.8%RM 2.30RM 1.66RM 2.0912
Nov ’24RM 1.69
RM 1.88
+11.4%
8.8%RM 2.30RM 1.66RM 2.1412
Oct ’24RM 1.68
RM 1.89
+12.2%
7.8%RM 2.25RM 1.70RM 2.1312
Sep ’24RM 1.63
RM 1.89
+15.7%
7.8%RM 2.25RM 1.70RM 1.9712
Aug ’24RM 1.65
RM 1.89
+14.2%
7.8%RM 2.25RM 1.70RM 1.9712
Jul ’24RM 1.67
RM 1.88
+12.7%
7.8%RM 2.25RM 1.70RM 1.8512
Jun ’24RM 1.61
RM 1.88
+16.9%
7.8%RM 2.25RM 1.70RM 1.8112
May ’24RM 1.75
RM 1.88
+7.4%
7.7%RM 2.25RM 1.70RM 1.8312
Apr ’24RM 1.74
RM 1.85
+6.2%
7.8%RM 2.20RM 1.65RM 1.7312
Mar ’24RM 1.74
RM 1.85
+6.2%
7.8%RM 2.20RM 1.65RM 1.7212
Feb ’24RM 1.76
RM 1.85
+5.0%
7.8%RM 2.20RM 1.65RM 1.7612
Jan ’24RM 1.65
RM 1.80
+9.3%
7.0%RM 2.00RM 1.60RM 1.7212
Dec ’23RM 1.61
RM 1.80
+12.0%
7.0%RM 2.00RM 1.60RM 1.7112

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 00:35
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

IGB Real Estate Investment Trust is covered by 22 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Afifah IshakAffin Hwang Investment Bank
Ian WanAlliance Research Sdn. Bhd.
Poh OngAmInvestment Bank Berhad