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KOREIT, a real estate investment trust, (034830) Fair Value & Analysis

Real Estate · KR · Market cap 248B KRW

KA KOREIT, a real estate investment trust, 034830 · KO
Price1,151 KRW
Fair Value1,632 KRW
Upside+41.8%
Quality44/100
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Mixed Growth
Highly profitable · 20.2% net margin
Moderate debt · negative free cash flow
6.21% dividend yield
Mixed vs. peers (4/10)
Narrow moat 36/100
Evidence: Medium Range 1,224 KRW – 2,040 KRW Share as image

Fair value as of: Jul 24, 2026

From 6 valuation models · updated 17 days ago

Share price +0.3% over the past month.

Below-average quality, screening 42% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1,224 KRW). The market is more pessimistic than our downside scenario.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

2,138 KRW 868.92 KRW Fair Value 1,632 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 868.92 KRW – 2,138 KRW · fair‑value band 1,224 KRW – 2,040 KRW · the 1,151 KRW price screens below the 1,632 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

KOREIT, a real estate investment trust, (034830) currently trades at 1,151 KRW, while our model-based Fair Value estimate is 1,632 KRW, implying the stock looks roughly 41.8% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, KOREIT, a real estate investment trust, generated revenue of 111B KRW at a net margin of 20.2%. Revenue grew 35.8% year over year. It earns a return on equity of 2.1%. Net debt stands at 598B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 1,224 KRW (bear case) to 2,040 KRW (bull case); at 1,151 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 39% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at 42%, 034830 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income 3,422 KRW 3,310 KRW 2,695 KRW 76
Gordon GGM 664.20 KRW 730.48 KRW 832.33 KRW 70
DDM Multi-Stage 664.20 KRW 847.72 KRW 1,113 KRW 61
All 6 models by family
Dividend Discount
Gordon GGM 664.20 KRW 730.48 KRW 832.33 KRW 70
DDM Multi-Stage 664.20 KRW 847.72 KRW 1,113 KRW 61
Multiples
P/S Multiple 1,224 KRW 1,632 KRW 2,040 KRW 58
P/B Multiple 1,224 KRW 1,632 KRW 2,040 KRW 55
Asset-Based
NCAV (Graham) 2,377 KRW 3,185 KRW 4,754 KRW 50
Economic Profit
Residual Income 3,422 KRW 3,310 KRW 2,695 KRW 76

Widest divergence: Economic Profit (3,310 KRW) versus Dividend Discount (730.48 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 111B KRW
Revenue growth (YoY) +35.8%
Net margin 20.2%
Return on equity 2.1%
Free cash flow −125B KRW FY2025
Operating margin 9.0%
More key figures
Dividend yield 6.2%
EPS growth (YoY) +12.5%
Net debt 598B KRW FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 38

Profitability 22
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

KOREIT, a real estate investment trust, engages in the investment, development, and management of real estate properties in South Korea. It also involves in land development trust, management trust, profit certificate trust, proxy business and agency business, real estate consulting, real estate investment trusts, and asset-backed securities businesses.

Full company description

KOREIT, a real estate investment trust, engages in the investment, development, and management of real estate properties in South Korea. It also involves in land development trust, management trust, profit certificate trust, proxy business and agency business, real estate consulting, real estate investment trusts, and asset-backed securities businesses. The company was founded in 1996 and is based in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KOREIT, a real estate investment trust, reported revenue of 184B KRW in FY2025 versus 226B KRW in FY2021, a compound −4.9%/yr. Reported net income was 21.0B KRW in FY2025, compounding −37.7%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
184B KRW
Latest YoY
−22.0%
Avg. growth/yr (3Y) 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.
−4.7%
Avg. growth/yr (5Y) 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.
−4.9%
Avg. growth/yr (25Y) 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.
+1.9%
Revenue −4.9%/yr
FY21 226B KRW
FY22 213B KRW
FY23 270B KRW
FY24 236B KRW
FY25 184B KRW
Net income −37.7%/yr
FY21 139B KRW
FY22 24.1B KRW
FY23 −8.4B KRW
FY24 −16.5B KRW
FY25 21.0B KRW

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Cite: Fair Value Calculator (2026). "KOREIT, a real estate investment trust, Fair Value". https://www.fairvalue-calculator.com/stock/034830

Peer Group

REIT - Diversified · 165 stocks

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.

Quality Score 46 · Bottom 25%
Fair Value upside +42% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 20% · Below median
Operating margin (TTM) 9% · Bottom 25%
Revenue growth 36% · Top 25%
Dividend yield (TTM) 6.2% · Above median
Debt / equity 0.68× · Higher than median

Valuation Multiples vs REIT - Diversified median · lower = cheaper

EV/EBITDA 14.5× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 89 · sector 13
FUTURE 100 · sector 13
PAST 8 · sector 20
HEALTH 66 · sector 72
DIVIDEND 100 · sector 97

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Goodman Group GMG A$29.11 A$7.37 -75%
VICI Properties Inc VICI $26.73 $41.74 +56%
W. P. Carey Inc WPC $76.69 $35.59 -54%
Charter Hall Group CHC A$21.90 A$11.46 -48%
Fibra Uno FUNO11 31.10 MXN 63.56 MXN +104%
COV COV €52.55 €62.39 +19%
The GPT Group GPT A$4.89 A$3.49 -29%
Mirvac Group MGR A$1.70 A$0.5700 -66%
KLCC Property Holdings 5235SS 8.85 MYR 6.91 MYR -22%
CRRUN CRRUN C$17.65 C$17.89 +1%

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Frequently asked questions

Is KOREIT, a real estate investment trust, (034830) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 1,632 KRW versus a price of 1,151 KRW, about +42% (undervalued).
What is the fair value of 034830?
Our model-based fair value for KOREIT, a real estate investment trust, is 1,632 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 1,151 KRW.
What is the quality score of 034830?
KOREIT, a real estate investment trust, has a Quality Score of 44/100. 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 revenue of KOREIT, a real estate investment trust, (034830)?
KOREIT, a real estate investment trust, reported trailing-twelve-month revenue of about 111B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 034830?
The net profit margin of KOREIT, a real estate investment trust, is about 20.2%, meaning it keeps roughly 20.2% of revenue as net income. Based on the latest reported figures.
Does KOREIT, a real estate investment trust, pay a dividend?
KOREIT, a real estate investment trust, currently shows a dividend yield of about 5.60% relative to its recent price (as of Jul 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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