Growthpoint Properties Limited

JSE:GRT Stock Report

Market Cap: R44.5b

Growthpoint Properties Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: GRT (ZAR13.14) is trading above our estimate of fair value (ZAR10.44)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for GRT. This is calculated by dividing GRT's market cap by their current earnings.
What is GRT's PE Ratio?
PE Ratio35.1x
EarningsR1.27b
Market CapR44.50b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for GRT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.5x
RDF Redefine Properties
8.1xn/aR32.1b
ATT Attacq
9.7xn/aR9.2b
BTN Burstone Group
34.3xn/aR8.0b
SAC SA Real Estate
6xn/aR7.2b
GRT Growthpoint Properties
35.1xn/aR44.5b

Price-To-Earnings vs Peers: GRT is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the peer average (14.5x).

Price to Earnings Ratio vs Industry

How does GRT's PE Ratio compare vs other companies in the Global REITs Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GRT 35.1xIndustry Avg. 16.4xNo. of Companies19PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GRT is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the Global REITs industry average (16.1x).

Price to Earnings Ratio vs Fair Ratio

What is GRT'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.

GRT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GRT'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 GRT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR13.14
R13.35
+1.6%
15.8%R16.00R10.10n/a4
Nov ’25R13.08
R13.35
+2.1%
15.8%R16.00R10.10n/a4
Oct ’25R14.03
R12.13
-13.6%
13.3%R14.60R10.10n/a4
Sep ’25R14.10
R12.13
-14.0%
13.3%R14.60R10.10n/a4
Aug ’25R12.64
R12.46
-1.4%
12.7%R14.60R10.10n/a5
Jul ’25R12.39
R12.46
+0.6%
12.7%R14.60R10.10n/a5
Jun ’25R10.99
R12.38
+12.6%
12.3%R14.60R10.10n/a5
May ’25R10.94
R12.95
+18.4%
8.8%R14.60R11.80n/a4
Apr ’25R11.26
R13.08
+16.1%
8.0%R14.60R11.80n/a4
Mar ’25R11.72
R13.53
+15.5%
6.3%R14.60R12.50n/a3
Feb ’25R11.85
R13.03
+10.0%
11.6%R14.60R11.00n/a3
Jan ’25R11.68
R12.27
+5.0%
8.3%R13.50R11.00n/a3
Dec ’24R10.90
R12.10
+11.0%
6.8%R13.00R11.00n/a3
Nov ’24R9.93
R13.10
+31.9%
16.2%R16.00R11.00R13.083
Oct ’24R10.55
R14.90
+41.2%
5.6%R16.00R14.00R14.033
Sep ’24R11.98
R15.33
+28.0%
6.1%R16.00R14.00R14.103
Aug ’24R12.95
R15.33
+18.4%
6.1%R16.00R14.00R12.643
Jul ’24R11.66
R15.33
+31.5%
6.1%R16.00R14.00R12.393
Jun ’24R11.79
R15.33
+30.1%
6.1%R16.00R14.00R10.993
May ’24R12.73
R15.33
+20.5%
6.1%R16.00R14.00R10.943
Apr ’24R13.06
R16.10
+23.3%
10.2%R18.00R14.00R11.263
Mar ’24R13.34
R15.70
+17.7%
10.1%R18.00R14.00R11.724
Feb ’24R14.20
R15.58
+9.7%
9.9%R18.00R14.00R11.854
Jan ’24R14.54
R15.58
+7.1%
9.9%R18.00R14.00R11.684
Dec ’23R13.45
R15.43
+14.7%
10.0%R18.00R14.00R10.904
Nov ’23R12.86
R15.43
+19.9%
10.0%R18.00R14.00R9.934

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

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