JR Global REIT (348950) Fair Value & Analysis
Real Estate · KR · Market cap 233B KRW
Fair value as of: Jul 24, 2026
From 4 valuation models · updated 17 days ago
Fair value updated Jul 24, 2026, revised from 454.72 KRW to 438.75 KRW (−3.5%) since Jun 26, 2026.
Below-average quality, and screening another 63% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (548.44 KRW). The favourable scenario is already priced in.
- Solid but not exceptional quality (47/100) 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.
Price vs Fair Value (5 years)
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 1,132 KRW – 3,979 KRW · fair‑value band 329.07 KRW – 548.44 KRW · the 1,182 KRW price screens above the 438.75 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.
Analysis
JR Global REIT (348950) currently trades at 1,182 KRW, while our model-based Fair Value estimate is 438.75 KRW, implying the stock looks roughly 62.9% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Net debt stands at 1.3T KRW. Fundamentals as of Jul 24, 2026
Our scenario range runs from 329.07 KRW (bear case) to 548.44 KRW (bull case); at 1,182 KRW, the current price sits above 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 60% below its 52-week high and 8% 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 -63%, 348950 screens richer 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.
All 4 models by family
Widest divergence: Asset-Based (4,035 KRW) versus Multiples (438.75 KRW). Highest evidence: Residual Income (76).
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Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 19
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
JR Global REIT was founded in 2014 and is headquartered in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
JR Global REIT reported revenue of 72.2B KRW in FY2026 versus 49.6B KRW in FY2022, a compound +9.8%/yr. Reported net income was 16.2B KRW in FY2026, compounding +2.9%/yr from FY2022.
348950 screens 63% overvalued. Compare with Goodman Group →
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.
Valuation Multiples vs REIT - Diversified median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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
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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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