BTB Real Estate Investment Trust

OTCPK:BTBI.F Stock Report

Market Cap: US$230.0m

BTB Real Estate Investment Trust Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: BTBI.F ($2.55) is trading below our estimate of fair value ($3.66)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BTBI.F?

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

The above table shows the Price to Earnings ratio for BTBI.F. This is calculated by dividing BTBI.F's market cap by their current earnings.
What is BTBI.F's PE Ratio?
PE Ratio14.7x
EarningsCA$21.63m
Market CapCA$321.43m

Price to Earnings Ratio vs Peers

How does BTBI.F's PE Ratio compare to its peers?

The above table shows the PE ratio for BTBI.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.4x
PINE Alpine Income Property Trust
76.5x-46.7%US$278.9m
OLP One Liberty Properties
18.3x-37.7%US$615.5m
CTO CTO Realty Growth
41.9x-137.5%US$593.8m
FREV.S First Real Estate Investment Trust of New Jersey
8.7xn/aUS$134.0m
BTBI.F BTB Real Estate Investment Trust
14.7xn/aUS$321.4m

Price-To-Earnings vs Peers: BTBI.F is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (36.4x).

Price to Earnings Ratio vs Industry

How does BTBI.F's PE Ratio compare vs other companies in the North American REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BTBI.F 14.7xIndustry Avg. 16.3xNo. of Companies4PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BTBI.F is good value based on its Price-To-Earnings Ratio (14.7x) compared to the Global REITs industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is BTBI.F'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.

BTBI.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BTBI.F'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 BTBI.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
US$2.64
0%
2.9%US$2.71US$2.53n/a4
Nov ’25US$2.55
US$2.50
-2.0%
3.0%US$2.55US$2.37n/a4
Oct ’25US$2.67
US$2.42
-9.3%
5.7%US$2.55US$2.22n/a4
Sep ’25US$2.48
US$2.42
-2.4%
5.7%US$2.55US$2.22n/a4
Aug ’25US$2.32
US$2.42
+4.2%
5.7%US$2.55US$2.22n/a4
Jul ’25US$2.11
US$2.42
+14.7%
5.7%US$2.55US$2.22n/a4
Jun ’25US$2.38
US$2.42
+1.7%
5.7%US$2.55US$2.22n/a4
May ’25US$2.27
US$2.43
+6.9%
5.7%US$2.55US$2.23n/a4
Apr ’25US$2.36
US$2.47
+4.8%
4.6%US$2.58US$2.32n/a4
Mar ’25US$2.24
US$2.47
+10.3%
4.6%US$2.58US$2.32n/a4
Feb ’25US$2.30
US$2.52
+9.5%
7.5%US$2.78US$2.22n/a5
Jan ’25US$2.20
US$2.57
+16.9%
7.9%US$2.81US$2.24n/a4
Dec ’24US$2.12
US$2.49
+17.5%
7.9%US$2.72US$2.17n/a4
Nov ’24US$2.10
US$2.67
+26.9%
14.7%US$3.26US$2.17US$2.554
Oct ’24US$2.27
US$2.97
+30.6%
9.6%US$3.35US$2.53US$2.675
Sep ’24US$2.46
US$2.97
+20.6%
9.6%US$3.35US$2.53US$2.485
Aug ’24US$2.43
US$3.06
+25.7%
9.1%US$3.41US$2.58US$2.325
Jul ’24US$2.32
US$3.05
+31.4%
7.0%US$3.36US$2.73US$2.115
Jun ’24US$2.35
US$3.05
+29.7%
7.0%US$3.36US$2.73US$2.385
May ’24US$2.43
US$3.08
+26.6%
5.6%US$3.36US$2.87US$2.275
Apr ’24US$2.60
US$3.06
+17.9%
4.5%US$3.30US$2.93US$2.365
Mar ’24US$2.78
US$3.06
+10.2%
4.5%US$3.30US$2.93US$2.245
Jan ’24US$2.70
US$2.88
+6.8%
3.6%US$2.94US$2.68US$2.205
Dec ’23US$2.81
US$2.90
+3.2%
3.6%US$2.96US$2.70US$2.125
Nov ’23US$2.47
US$2.97
+20.4%
8.2%US$3.30US$2.57US$2.105

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

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