Growthpoint Properties Limited

JSE:GRT Stock Report

Market Cap: R38.3b

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 (ZAR11.3) is trading above our estimate of fair value (ZAR10.81)

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?

Other financial metrics that can be useful for relative valuation.

GRT 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/Revenue9.1x
Enterprise Value/EBITDA14x
PEG Ration/a

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 Average11.2x
RDF Redefine Properties
18.8xn/aR27.1b
ATT Attacq
12.9xn/aR7.5b
SAC SA Real Estate
9.5xn/aR6.2b
EMI Emira Property Fund
3.8xn/aR4.2b
GRT Growthpoint Properties
59.1xn/aR38.3b

Price-To-Earnings vs Peers: GRT is expensive based on its Price-To-Earnings Ratio (59.1x) compared to the peer average (11.2x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a28.8%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a28.8%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: GRT is expensive based on its Price-To-Earnings Ratio (59.1x) compared to the Global REITs industry average (14.5x).


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 Ratio59.1x
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
CurrentR11.30
R13.16
+16.5%
7.2%R14.60R11.80n/a5
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%R16.00R11.00n/a3
Oct ’24R10.55
R14.90
+41.2%
5.6%R16.00R14.00n/a3
Sep ’24R11.98
R15.33
+28.0%
6.1%R16.00R14.00n/a3
Aug ’24R12.95
R15.33
+18.4%
6.1%R16.00R14.00n/a3
Jul ’24R11.66
R15.33
+31.5%
6.1%R16.00R14.00n/a3
Jun ’24R11.79
R15.33
+30.1%
6.1%R16.00R14.00n/a3
May ’24R12.73
R15.33
+20.5%
6.1%R16.00R14.00n/a3
Apr ’24R13.06
R16.10
+23.3%
10.2%R18.00R14.00n/a3
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
Oct ’23R11.79
R15.60
+32.3%
9.4%R18.00R14.00R10.554
Sep ’23R12.63
R15.60
+23.5%
9.4%R18.00R14.00R11.984
Aug ’23R13.47
R15.60
+15.8%
9.4%R18.00R14.00R12.954
Jul ’23R12.15
R15.60
+28.4%
9.4%R18.00R14.00R11.664
Jun ’23R13.98
R15.60
+11.6%
9.4%R18.00R14.00R11.794
May ’23R14.12
R15.60
+10.5%
9.4%R18.00R14.00R12.734
Apr ’23R14.65
R15.48
+5.6%
9.8%R18.00R14.00R13.064
Mar ’23R13.47
R15.20
+12.8%
10.8%R18.00R14.00R13.344

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


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