THE FIGURES BEHIND THE INSIGHT

Know what you are comparing.

Clear definitions, explicit reporting periods and no false precision.

Valuation measures

NTA discount

(1 − share price / EPRA NTA per share) × 100

A positive figure indicates a discount; a negative figure indicates a premium. EPRA NTA differs from IFRS equity and EPRA NRV. A discount alone does not establish undervaluation.

Price / EPRA earnings

Share price / EPRA earnings per share

Uses EPRA earnings, rather than IFRS profit. The earnings period is shown in the profile. No multiple is displayed for zero or negative earnings. Annual results, forecasts and half-year results are not interchangeable.

Gross dividend yield

Gross dividend per share / share price × 100

Before withholding tax and other personal taxes. We use the next announced annual dividend, including company guidance; otherwise, the most recently paid annual dividend. An announced minimum is used as a lower bound. The financial year and status are shown in the profile.

Dividend / EPRA earnings

Gross dividend per share / EPRA earnings per share × 100

Uses the dividend for the same financial year as the reported annual earnings. A more recently announced dividend is used for dividend yield, but is not combined with older earnings in this payout ratio.

Market capitalisation

Share price × shares outstanding

The number of shares is recorded in millions. The calculated market capitalisation is shown in EUR million.

Balance sheet & property

Loan-to-value (LTV)

The table, filters and averages use EPRA LTV. Only Immo Moury uses the statutory GVV debt ratio, as it does not report EPRA LTV. This exception is not an identical measure. We use property values without adding transfer taxes; the reference date is shown in the profile.

Occupancy rate

Use comparable definitions. Physical occupancy and financial occupancy differ. Check the measurement basis in the source information.

Averages

The cards show the unweighted arithmetic average of the current selection. Missing values are excluded. This is not a portfolio or index return.

Data quality

All 14 companies use reported company data. Share prices are retrieved separately from the linked Google Sheets tab.

Sources and reporting periods accompany the company data. Missing fields are shown as —. Ratios are calculated only when the inputs are available and usable.

Prices are fetched when the page opens and every 5 minutes while it remains visible. If retrieval fails, the last received price remains identifiable. Without a price timestamp or delay information, no real-time status is claimed. The site never falls back to fictitious prices.

EPRA NTA and EPRA earnings are widely used reporting measures for listed real estate. Check each company’s figures and definitions.