trending Market Intelligence /marketintelligence/en/news-insights/trending/m9zjp6v7cal3wzuj_7odog2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Europe-based real estate companies trade at median 10% discount to NAV estimates

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Europe-based real estate companies trade at median 10% discount to NAV estimates

Despite the uncertainty surrounding the U.K.'s planned departure from the EU in March 2019, share prices of U.K.-based real estate companies traded closer to their consensus net-asset-value per-share estimates as of Oct. 22, compared to those headquartered in other parts of Europe, according to an S&P Global Market Intelligence analysis.

Altogether, the 112 SNL-covered European real estate companies traded at a median 10.3% discount to NAV. Belgian companies were the only ones to trade at a median premium to NAV, at 27.7%. At the other end of the chart, Torunlar Gayrimenkul Yatırım Ortaklığı AŞ, the only SNL-covered real estate company based in Turkey, traded at the greatest discount to NAV, at 76.1%. Real estate companies headquartered in the U.K. traded slightly above the European median, at a discount of 8.8%.

Among U.K.-based real estate companies, those in the self-storage sector traded at the greatest premium to NAV, at 37.2%, while the healthcare, single-family and student housing sectors also traded at premiums.

The only SNL-covered industrial real estate company based outside the U.K., Belgium-based VGP NV, traded at an 89.6% premium to NAV, the largest premium among all companies examined. The U.K.'s six industrial real estate companies traded at a median 2.5% discount to NAV.

In Europe, the eight shopping center-focused real estate companies traded at a median 31.9% discount to NAV, the largest among all property types on the continent. The U.K.'s only shopping center-focused real estate company traded at an even steeper 43.9% discount.

While global real estate stocks have trended downward so far in 2018, both the SNL Europe Real Estate index and SNL U.K. Real Estate index had outperformed the broader SNL Global Real Estate index as of Oct. 22.

SNL Image

SNL Image

Did you enjoy this analysis? Click here to set email alerts for future real estate Data Dispatch articles.

For further analysis, try S&P Global Market Intelligence's Global NAV Analysis template. Other templates are also available in the Excel Template Library.