PRO Real Estate Investment Trust
TSX:PRV.UN

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PRO Real Estate Investment Trust
TSX:PRV.UN
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Price: 5.61 CAD Market Closed
Market Cap: 333.5m CAD

Relative Value

The Relative Value of one PRV.UN stock under the Base Case scenario is 11.28 CAD. Compared to the current market price of 5.61 CAD, PRO Real Estate Investment Trust is Undervalued by 50%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

PRV.UN Relative Value
Base Case
11.28 CAD
Undervaluation 50%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
39
vs Industry
51
Median 3Y
3.3
Median 5Y
3.2
Industry
3.7
vs History
30
vs Industry
4
Median 3Y
8.6
Median 5Y
9.4
Industry
16.5
vs History
20
vs Industry
41
Median 3Y
10.4
Median 5Y
10.4
Industry
11
vs History
4
vs Industry
14
Median 3Y
4
Median 5Y
3.4
Industry
13
vs History
44
vs Industry
58
Median 3Y
0.7
Median 5Y
0.7
Industry
0.9
vs History
76
vs Industry
45
Median 3Y
7.3
Median 5Y
7.7
Industry
6.6
vs History
80
vs Industry
48
Median 3Y
12.5
Median 5Y
13.2
Industry
12.1
vs History
80
vs Industry
48
Median 3Y
14.5
Median 5Y
14.6
Industry
15.9
vs History
80
vs Industry
50
Median 3Y
14.7
Median 5Y
14.9
Industry
19.1
vs History
50
vs Industry
31
Median 3Y
23.8
Median 5Y
24.4
Industry
18.5
vs History
46
vs Industry
30
Median 3Y
24.4
Median 5Y
25.1
Industry
20.1
vs History
76
vs Industry
52
Median 3Y
0.7
Median 5Y
0.8
Industry
0.7

Multiples Across Competitors

PRV.UN Competitors Multiples
PRO Real Estate Investment Trust Competitors

Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
PRO Real Estate Investment Trust
TSX:PRV.UN
333.4m CAD 3.4 12.4 13.2 13.4
ZA
Growthpoint Properties Ltd
JSE:GRT
44.4B Zac 0 0 0 0
ZA
Redefine Properties Ltd
JSE:RDF
29.3B Zac 0 0 0 0
US
WP Carey Inc
NYSE:WPC
14B USD 8.7 32.6 16.6 27.5
ZA
Attacq Ltd
JSE:ATT
10B Zac 0 0 0 0
JP
KDX Realty Investment Corp
OTC:KDXRF
9.6B USD 17.7 28 36.6 45.5
AU
Stockland Corporation Ltd
ASX:SGP
13B AUD 4.3 29.1 25.5 25.5
FR
Gecina SA
PAR:GFC
7B EUR 10 22.4 23.1 23.6
ZA
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
7.6B Zac 0 0 0 0
ES
MERLIN Properties SOCIMI SA
MAD:MRL
6.2B EUR 12.4 20.5 24 24.2
ZA
Fairvest Ltd
JSE:FTA
6.9B Zac 0 0 0 0
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
PRO Real Estate Investment Trust
TSX:PRV.UN
Average EV/EBITDA: 23.1
13.2
N/A N/A
ZA
G
Growthpoint Properties Ltd
JSE:GRT
Not Available
-2%
N/A
ZA
R
Redefine Properties Ltd
JSE:RDF
Not Available
0%
N/A
US
WP Carey Inc
NYSE:WPC
16.6
8%
2.1
ZA
A
Attacq Ltd
JSE:ATT
Not Available N/A N/A
JP
KDX Realty Investment Corp
OTC:KDXRF
36.6
-1%
N/A
AU
Stockland Corporation Ltd
ASX:SGP
25.5
17%
1.5
FR
Gecina SA
PAR:GFC
23.1
5%
4.6
ZA
S
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
Not Available
0%
N/A
ES
MERLIN Properties SOCIMI SA
MAD:MRL
24
10%
2.4
ZA
F
Fairvest Ltd
JSE:FTA
Not Available N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
PRO Real Estate Investment Trust
TSX:PRV.UN
Average EV/EBIT: 26.6
13.4
N/A N/A
ZA
G
Growthpoint Properties Ltd
JSE:GRT
Not Available
-2%
N/A
ZA
R
Redefine Properties Ltd
JSE:RDF
Not Available
5%
N/A
US
WP Carey Inc
NYSE:WPC
27.5
11%
2.5
ZA
A
Attacq Ltd
JSE:ATT
Not Available
4%
N/A
JP
KDX Realty Investment Corp
OTC:KDXRF
45.5
N/A N/A
AU
Stockland Corporation Ltd
ASX:SGP
25.5
17%
1.5
FR
Gecina SA
PAR:GFC
23.6
12%
2
ZA
S
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
Not Available N/A N/A
ES
MERLIN Properties SOCIMI SA
MAD:MRL
24.2
11%
2.2
ZA
F
Fairvest Ltd
JSE:FTA
Not Available N/A N/A