ESR Kendall Square REIT Co (365550) Fair Value & Analysis
Real Estate · KR · Market cap 784B KRW
Fair value as of: Jul 24, 2026
From 3 valuation models · updated 17 days ago
Share price −4.4% over the past month.
Below-average quality, and screening another 35% overvalued on our models.
What matters now
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (969.93 KRW to 3,563 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- 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 2,512 KRW – 5,596 KRW · fair‑value band 969.93 KRW – 3,563 KRW · the 3,250 KRW price screens above the 2,118 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
ESR Kendall Square REIT Co (365550) currently trades at 3,250 KRW, while our model-based Fair Value estimate is 2,118 KRW, implying the stock looks roughly 34.9% overvalued today. The Quality Score stands at 39/100 (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: high).
Net debt stands at 1.4T KRW. Fundamentals as of Jul 24, 2026
Our scenario range runs from 969.93 KRW (bear case) to 3,563 KRW (bull case); at 3,250 KRW, the current price sits within 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -45% fair-value upside, at -35%, 365550 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.
All 3 models by family
Widest divergence: Asset-Based (3,172 KRW) versus Dividend Discount (2,041 KRW). Highest evidence: Gordon GGM (70).
Key figures & financial health
Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 29
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
ESR Kendall Square REIT Co., Ltd. operates as a logistics real estate investment trust (REIT) in South Korea. It owns, develops, and operates logistics facilities.
Full company description
ESR Kendall Square REIT Co., Ltd. operates as a logistics real estate investment trust (REIT) in South Korea. It owns, develops, and operates logistics facilities. The company is also involved in investing and managing investment properties, including real estate acquisition, maintenance, improvement and disposal, development, and trade of real estate lease securities. ESR Kendall Square REIT Co., Ltd. was incorporated in 2020 and is headquartered in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ESR Kendall Square REIT Co reported revenue of 59.6B KRW in FY2025 versus 30.1B KRW in FY2021, a compound +18.6%/yr. Reported net income was −3.4B KRW in FY2025.
365550 screens 35% overvalued. Compare with Prologis, Inc →
Peer Group
REIT - Industrial · 63 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 - Industrial 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 - Industrial stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $143.42 | $61.28 | -57% |
| Public Storage, a member of the S&P 500, PSA | $322.48 | $172.80 | -46% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $213.10 | $81.41 | -62% |
| Lineage, Inc LINE | $41.42 | $47.91 | +16% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.51 SGD | 2.00 SGD | -20% |
| CubeSmart CUBE | $42.09 | $25.06 | -40% |
| First Industrial Realty Trust, Inc FR | $66.99 | $21.48 | -68% |
| Rexford Industrial Realty, Inc REXR | $39.00 | $21.35 | -45% |
| STAG Industrial, Inc STAG | $41.11 | $24.31 | -41% |
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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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