Lar Espana Real Estate SOCIMI SA
MAD:LRE

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Lar Espana Real Estate SOCIMI SA
MAD:LRE
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Price: 8.14 EUR -0.49% Market Closed
Market Cap: 680.3m EUR
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Intrinsic Value

The intrinsic value of one LRE stock under the Base Case scenario is 18.57 EUR. Compared to the current market price of 8.14 EUR, Lar Espana Real Estate SOCIMI SA is Undervalued by 56%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

LRE Intrinsic Value
18.57 EUR
Undervaluation 56%
Intrinsic Value
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Lar Espana Real Estate SOCIMI SA

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Lar Espana Real Estate SOCIMI SA

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Financials
Annual
Quarterly
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Balance Sheet Decomposition
Lar Espana Real Estate SOCIMI SA

Current Assets 221.8m
Cash & Short-Term Investments 213m
Receivables 6.7m
Other Current Assets 2m
Non-Current Assets 1.3B
Long-Term Investments 1.3B
Intangibles 1k
Other Non-Current Assets 3m
Current Liabilities 21.6m
Accounts Payable 9.3m
Accrued Liabilities 260k
Other Current Liabilities 12m
Non-Current Liabilities 681.6m
Long-Term Debt 648m
Other Non-Current Liabilities 33.6m
Efficiency

Earnings Waterfall
Lar Espana Real Estate SOCIMI SA

Revenue
89.8m EUR
Cost of Revenue
-25.8m EUR
Gross Profit
64m EUR
Operating Expenses
1.3m EUR
Operating Income
65.4m EUR
Other Expenses
-41.4m EUR
Net Income
24m EUR

Free Cash Flow Analysis
Lar Espana Real Estate SOCIMI SA

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Lar España achieved sales close to €230 million in Q1 2024, up 7.5% from 2023. Gross rental income rose 4.8%, and recurring net profit increased by 20.8%. The company’s net loan-to-value decreased to 29.5%, with a projected rise to 34.5% post-dividend. Lar España approved a historic €66 million dividend, yielding 12.9%. The company’s portfolio remains strong with a 97% occupancy rate and impressive growth in major retail categories. Future plans include acquiring new assets using its €200 million cash position. Additionally, the company is committed to its ESG goals, focusing on achieving climate neutrality by 2030 and net-zero emissions by 2050.

What is Earnings Call?
Fundamental Scores

LRE Profitability Score
Profitability Due Diligence

Lar Espana Real Estate SOCIMI SA's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

Positive Free Cash Flow
Positive Gross Profit
Positive Operating Income
Positive Net Income
62/100
Profitability
Score

Lar Espana Real Estate SOCIMI SA's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

LRE Solvency Score
Solvency Due Diligence

Lar Espana Real Estate SOCIMI SA's solvency score is 47/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Low D/E
Positive Net Debt
47/100
Solvency
Score

Lar Espana Real Estate SOCIMI SA's solvency score is 47/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

LRE Price Targets Summary
Lar Espana Real Estate SOCIMI SA

Wall Street analysts forecast LRE stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for LRE is 8.59 EUR with a low forecast of 8.18 EUR and a high forecast of 9.14 EUR.

Lowest
Price Target
8.18 EUR
1% Upside
Average
Price Target
8.59 EUR
5% Upside
Highest
Price Target
9.14 EUR
12% Upside
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Dividends

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Dividend Per Share
N/A
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Growth 10Y
Dividend Safety Score
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Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for LRE is .

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Dividend Yield
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Profile

Lar Espana Real Estate SOCIMI SA Logo
Lar Espana Real Estate SOCIMI SA

Country

Spain

Industry

Real Estate

Market Cap

680.8m EUR

Dividend Yield

0.64%

Description

Lar España Real Estate SOCIMI SA engages in the investment of commercial properties through the management of real estate assets. The company is headquartered in Madrid, Madrid and currently employs 3 full-time employees. The company went IPO on 2014-03-05. The firm specializes in acquiring, managing and renting real estate assets within the Spanish market. Its business activities are divided into three segments: Shopping Centers, Offices, as well as Logistics. The Shopping Centers area is responsible for operation of a number of shopping malls, namely Txingudi, Las Huertas, Albacenter, Anec Blau, Hiper Albacenter, and Nuevo Alisal, among others. The Offices segment invests in office properties, such as Arturo Soria, Cardenal Marcelo Spinola, Egeo and Eloy Gonzalo. The Logistics division focuses on managing logistics warehouses, including Alovera I and Alovera II. The firm also owns a plot for residential properties development. The company is a parent of a number of entities, such as Lar Espana Inversion Logistica SA, Gran Via Centrum Holdings SAU, Global Noctua and Puerta Maritima Ondara.

Contact

MADRID
Madrid
C/ Rosario Pino 14-16 8 Planta
+34914360437.0
larespana.com

IPO

2014-03-05

Employees

3

Officers

CEO & Proprietary Vice President
Mr. Miguel Pereda Espeso
Corporate Director & CFO
Mr. Jon Armentia Mendaza
Head of Investor Relations
Mr. Hernan San Pedro Lopez de Uribe
General Counsel & Vice-secretary of the Board
Ms. Susana Guerrero Trevijano
MD Retail, Offices & Logistics
Mr. Jose Manuel Llovet
Secretary of the Board
Mr. Juan Gomez-Acebo Saenz de Heredia

See Also

Discover More
What is the Intrinsic Value of one LRE stock?

The intrinsic value of one LRE stock under the Base Case scenario is 18.57 EUR.

Is LRE stock undervalued or overvalued?

Compared to the current market price of 8.14 EUR, Lar Espana Real Estate SOCIMI SA is Undervalued by 56%.

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