Real Estate Investors PLC (RLE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Real Estate Investors PLC stock £0.20, price £0.31, that is 35.5% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range £0.2264 – £0.3272 · fair‑value band £0.1800 – £0.2300 · the £0.3100 price screens above the £0.2000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of mixed-use commercial property.
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It is managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The portfolio has no material reliance on a single asset or occupier.
On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.
The Company announced in January 2024 that it would be undertaking an orderly strategic sale of the Company's portfolio over three years, disposing of assets individually or collectively, at or above book value, to optimise returns to shareholders.
The pace of the disposal program will be dictated by market conditions, with an initial focus on repaying the Company's debt. In the meantime, it is the Board's intention to continue paying a fully covered quarterly dividend. Real Estate Investors Plc was incorporated in 2004 in United Kingdom.
Stock analysis
Real Estate Investors PLC (RLE) currently trades at £0.3100, while our model-based Fair Value estimate is £0.2000, 35% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of £0.3300 per share, and 1 of the 8 models we run sit above the £0.3100 price.
Bear case: the DCF Models group reads lowest at £0.2000, and 7 of the 8 models stay below the price. Data coverage for this calculation is low.
Scenario range: £0.1800 (bear) to £0.2300 (bull), the price of £0.3100 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Real Estate Investors PLC reported revenue of £9.4M in FY2025 versus £16.0M in FY2021, a compound −12.5%/yr. Reported net income was −£839K in FY2025.
Key figures
Market cap £54.2M Micro · P/E ex one-offs 18.8 · P/S ratio 5.94 · EPS (TTM) £−0.0100 · Dividend yield 5.2% · Net margin −9.0% · Return on equity −2.9% · Return on assets (EBIT) 4.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 12% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −7% fair-value upside, at −35%, RLE screens richer than that median.
Fair Value models
Bear£0.1800Fair Value £0.2000Bull£0.2300
Price £0.3100 · Downside -35.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−12.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−8.3%
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.6%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
68.7% (2020) → 5.0% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +27.5% a year for the price.
Compare Real Estate Investors PLC with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Diversified · 138 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−35.5% · Below median
Profitability
Return on assets−0.7% · Bottom 25%
Net margin (12 months)−27.2% · Bottom 25%
Operating margin (12 months)49.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−5.1% · Bottom 25%
Dividend yield (12 months)5.2% · Below median
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
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Is Real Estate Investors PLC (RLE) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of £0.2000 versus a price of £0.3100, about 35% lower (overvalued).
What is the fair value of RLE?
Our model-based fair value for Real Estate Investors PLC is £0.2000 (as of Nov 9, 2026), built from audited fundamentals. The current price: £0.3100.
What is the quality score of RLE?
Real Estate Investors PLC has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Real Estate Investors PLC (RLE)?
Our model-based price target is the fair value of £0.2000 (as of Nov 9, 2026) from 8 valuation models. Cautious scenario £0.1800, optimistic scenario £0.2300. It is a calculation from audited fundamentals, not an analyst target.
What is the Real Estate Investors PLC stock forecast for 2026?
Our models put fair value at £0.2000, about 35% lower versus a price of £0.3100 (overvalued). Cautious scenario £0.1800, optimistic scenario £0.2300. The calculation is refreshed regularly with new filings.
What is the revenue of Real Estate Investors PLC (RLE)?
Real Estate Investors PLC reported trailing-twelve-month revenue of about £9.1M (latest available figure, as of Nov 9, 2026).
Does Real Estate Investors PLC pay a dividend?
Real Estate Investors PLC currently shows a dividend yield of 5.16% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Real Estate Investors PLC (RLE) and when is the ex-dividend date?
Real Estate Investors PLC pays a dividend of £0.016 per share a year, a dividend yield of 5.2%. The last ex-dividend date was Oct 8, 2026. A dividend has been paid every year since at least 2012. Free cash flow covers the dividend 0.66 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Real Estate Investors PLC (RLE)?
For today's price to be fair in a discounted-cash-flow model, Real Estate Investors PLC would have to grow free cash flow by +30.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -10.6 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of RLE use?
Our models discount Real Estate Investors PLC at 11.8 %: a base by market capitalisation (micro), damped by beta 0.36, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Real Estate Investors PLC that is +30.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Real Estate Investors PLC (RLE) delivered so far?
Over the past 5 years revenue at Real Estate Investors PLC grew -10.6 % a year. The price currently implies free-cash-flow growth of +30.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Real Estate Investors PLC (RLE) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Real Estate Investors PLC (+30.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Real Estate Investors PLC (RLE)?
The free-cash-flow yield on the price is 3.41 %: that much free cash flow Real Estate Investors PLC produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Real Estate Investors PLC (RLE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Real Estate Investors PLC it is £0.2000 per share (as of Nov 9, 2026), against a price of £0.3100. It is the blended result of 8 valuation models in 3 families (DCF Models, Asset-Based, Growth DCF).
Is Real Estate Investors PLC stock overvalued or undervalued in 2026?
As of Nov 9, 2026, RLE trades above its calculated fair value: price £0.3100, fair value £0.2000, a gap of about −35% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RLE?
No. The price is what the market pays today (£0.3100); the fair value is what the company's own numbers justify (£0.2000). For Real Estate Investors PLC the two are £0.1100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Real Estate Investors PLC worth?
The market values Real Estate Investors PLC at about £54.2M (market capitalisation, as of Nov 9, 2026). Per share that is £0.3100; our models calculate a fair value of £0.2000 per share.
What do the bullish and bearish scenarios say about RLE?
Our models span a range for Real Estate Investors PLC: cautious scenario £0.1800, base £0.2000, optimistic £0.2300 per share (as of Nov 9, 2026, price £0.3100). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Real Estate Investors PLC (RLE)?
Balance-sheet figures for Real Estate Investors PLC (as of Nov 9, 2026): return on equity −2.9%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is RLE from its 52-week high?
Real Estate Investors PLC trades at £0.3100, about 4% below its 52-week high of £0.3216 and 12% above the low of £0.2777 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £0.2000 is for.
Which stocks are comparable to Real Estate Investors PLC?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Stockland, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Real Estate Investors PLC stock attractive at the current price?
The data as of Nov 9, 2026: price £0.3100, calculated fair value £0.2000 (−35%), Quality Score 60/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RLE calculated?
We run Real Estate Investors PLC through 8 models from 3 families: DCF Models, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of £0.2000 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Real Estate Investors PLC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Real Estate Investors PLC (RLE)?
The closing price on Nov 6, 2026 was £0.3100. Our model-based fair value is £0.2000, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Real Estate Investors PLC right now?
The price sits above even our optimistic bull case (£0.2300). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Real Estate Investors PLC (RLE) come from?
Earnings per share at Real Estate Investors PLC grew +19.4 % a year from 2012 to 2023. Broken into its drivers: revenue per share +8.8 %, EBIT margin +8.6 %, tax rate +5.1 %, residual (interest, one-offs) −3.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Real Estate Investors PLC
How large is the market capitalisation of Real Estate Investors PLC (RLE)?
The market capitalisation of Real Estate Investors PLC is £54.2M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Real Estate Investors PLC (RLE) excluding one-off items?
Excluding one-off items, the price-to-earnings ratio of Real Estate Investors PLC is 18.8 (fiscal year 2025, the reported result was a loss, median at FY-end 11.7 (7 FY)).
What is the P/S ratio of Real Estate Investors PLC (RLE)?
The price-to-sales ratio of Real Estate Investors PLC is 5.94 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Real Estate Investors PLC (RLE)?
Earnings per share at Real Estate Investors PLC are £−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Real Estate Investors PLC (RLE)?
The dividend yield of Real Estate Investors PLC is 5.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Real Estate Investors PLC (RLE)?
The net margin of Real Estate Investors PLC is −9.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Real Estate Investors PLC (RLE)?
The return on equity (ROE) of Real Estate Investors PLC is −2.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Real Estate Investors PLC (RLE)?
On an EBIT basis the return on assets of Real Estate Investors PLC is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Real Estate Investors PLC (RLE)?
The operating margin of Real Estate Investors PLC is 49.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Real Estate Investors PLC (RLE)?
Revenue at Real Estate Investors PLC is growing −5.1% versus a year earlier (3y avg −11.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Real Estate Investors PLC (RLE)?
Earnings per share at Real Estate Investors PLC are growing −42.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Real Estate Investors PLC (RLE) carry?
The net debt of Real Estate Investors PLC is £28.1M (fiscal year 2025, ≈ 15.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 9, 2026