Alternative Income REIT PLC (AIRE) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Alternative Income REIT PLC £1.71, price £0.69, upside +148.6%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range £0.4312 – £0.7658 · fair‑value band £0.9750 – £2.08 · the £0.6880 price screens below the £1.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Alternative Income REIT PLC aims to generate a sustainable, secure and attractive income return for shareholders from a diversified portfolio of UK property investments, with a particular focus on alternative and specialist real estate sectors.
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Alternative Income REIT PLC aims to generate a sustainable, secure and attractive income return for shareholders from a diversified portfolio of UK property investments, with a particular focus on alternative and specialist real estate sectors. The majority of the assets in the Groups portfolio are let on long leases which contain index linked rent review provisions. Its asset manager is Martley Capital Real Estate Investment Management Limited (Martley Capital). Martley Capital is a full-service real estate investment management platform whose activities cover real estate investing, lending, asset management and fund management. It has over 40 employees across five offices in the UK and Europe. The team manages assets with a value of circa 1 billion pounds across 30 mandates (at 31 December 2025). Alternative Income REIT Plc was established on April, 18 2017 and incorporated in United Kingdom.
Stock analysis
Alternative Income REIT PLC (AIRE) currently trades at £0.6880, while our model-based Fair Value estimate is £1.71, implying the stock looks roughly 59.8% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of £2.19 per share, and 11 of the 12 models we run sit above the £0.6880 price.
Bear case: the Asset-Based group reads lowest at £0.5600, and 1 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: £0.9750 (bear) to £2.08 (bull), the price of £0.6880 sits below 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 71/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Alternative Income REIT PLC reported revenue of 8.6M GBX in FY2025 versus 7.4M GBX in FY2021, a compound +3.7%/yr. Reported net income was 7.3M GBX in FY2025, compounding +6.8%/yr from FY2021.
Key figures
Market cap 55.4M GBX · P/E ratio 7.6 · P/S ratio 6.47 · EPS (TTM) £0.0900 · Dividend yield 8.6% · Net margin 84.7% · Return on equity 10.3% · Return on assets (EBIT) 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 1% fair-value upside, at 149%, AIRE screens cheaper than that median.
Fair Value models
Bear £0.9750Fair Value £1.71Bull £2.08
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (£0.0310 per share) are deliberately not added.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 ⓘEvidence = 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+8.5%
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.
+2.7%
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.
+1.9%
Start year 2020 (pandemic)
Revenue growth 6 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.
+9.6%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+16.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.2%
Dividend (yield on the price)8.6%
Profit margin 2020 to 2024 ⓘ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.76% → 78%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−9.1%
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 −11.1% a year for the price.
Compare Alternative Income REIT 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 · 155 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+149% · Top 25%
Profitability
Return on equity (TTM)10% · Top 25%
Return on assets4% · Top 25%
Net margin (TTM)78% · Top 25%
Operating margin (TTM)78% · Top 25%
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)8.6% · Top 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Alternative Income REIT PLC Fair Value". https://www.fairvalue-calculator.com/stock/AIRE
Frequently asked questions
Is Alternative Income REIT PLC (AIRE) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of £1.71 versus a price of £0.6880, about +149% upside (undervalued).
What is the fair value of AIRE?
Our model-based fair value for Alternative Income REIT PLC is £1.71 (as of Sep 23, 2026), built from audited fundamentals. The current price: £0.6880.
What is the quality score of AIRE?
Alternative Income REIT PLC has a Quality Score of 71/100. 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 Alternative Income REIT PLC (AIRE)?
Our model-based price target is the fair value of £1.71 (as of Sep 23, 2026) from 12 valuation models. Cautious scenario £0.9750, optimistic scenario £2.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Alternative Income REIT PLC stock forecast for 2026?
Our models put fair value at £1.71, about +149% upside versus a price of £0.6880 (undervalued). Cautious scenario £0.9750, optimistic scenario £2.08. The calculation is refreshed regularly with new filings.
What is the revenue of Alternative Income REIT PLC (AIRE)?
Alternative Income REIT PLC reported trailing-twelve-month revenue of about £8.9M (latest available figure, as of Sep 23, 2026).
Does Alternative Income REIT PLC pay a dividend?
Alternative Income REIT PLC currently shows a dividend yield of about 8.58% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Alternative Income REIT PLC (AIRE)?
For today's price to be fair in a discounted-cash-flow model, Alternative Income REIT PLC would have to grow free cash flow by -9.1 % 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 +1.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of AIRE use?
Our models discount Alternative Income REIT PLC at 11.8 %: a base by market capitalisation (micro), damped by beta 0.51, 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 Alternative Income REIT PLC that is -9.1 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Alternative Income REIT PLC (AIRE) delivered so far?
Over the past 5 years revenue at Alternative Income REIT PLC grew +1.9 % a year. The price currently implies -9.1 % per year free-cash-flow growth a 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 Alternative Income REIT PLC (AIRE) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Alternative Income REIT PLC (-9.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Alternative Income REIT PLC (AIRE)?
The free-cash-flow yield on the price is 16.15 %: that much free cash flow Alternative Income REIT 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 Alternative Income REIT PLC (AIRE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alternative Income REIT PLC it is £1.71 per share (as of Sep 23, 2026), against a price of £0.6880. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Alternative Income REIT PLC stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AIRE trades below its calculated fair value: price £0.6880, fair value £1.71, a gap of about +149% (undervalued). 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 AIRE?
No. The price is what the market pays today (£0.6880); the fair value is what the company's own numbers justify (£1.71). For Alternative Income REIT PLC the two are £1.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Alternative Income REIT PLC worth?
The market values Alternative Income REIT PLC at about 55.4M GBX (market capitalisation, as of Sep 23, 2026). Per share that is £0.6880; our models calculate a fair value of £1.71 per share.
What do the bullish and bearish scenarios say about AIRE?
Our models span a range for Alternative Income REIT PLC: cautious scenario £0.9750, base £1.71, optimistic £2.08 per share (as of Sep 23, 2026, price £0.6880). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AIRE?
Alternative Income REIT PLC trades at a price-to-earnings ratio of 7.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £1.71 is built from several models across several years. Other multiples: P/B 1.1, P/S 8.2, EV/EBITDA 10.4.
How solid is the balance sheet of Alternative Income REIT PLC (AIRE)?
Balance-sheet figures for Alternative Income REIT PLC (as of Sep 23, 2026): return on equity 10.3%. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is AIRE from its 52-week high?
Alternative Income REIT PLC trades at £0.6880, about 10% below its 52-week high of £0.7658 and 7% above the low of £0.6409 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £1.71 is for.
Which stocks are comparable to Alternative Income REIT PLC?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, 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 Alternative Income REIT PLC stock attractive at the current price?
The data as of Sep 23, 2026: price £0.6880, calculated fair value £1.71 (+149%), Quality Score 71/100, from 12 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 AIRE calculated?
We run Alternative Income REIT PLC through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of £1.71, 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 13.0 % above its aggregate fair value. Alternative Income REIT PLC currently trades 149 % below its own fair value, and the market average says nothing about that. 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 Alternative Income REIT PLC (AIRE)?
The closing price on Sep 24, 2026 was £0.6880. Our model-based fair value is £1.71, about +149% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alternative Income REIT PLC right now?
The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (£0.9750). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (£0.9750 to £2.08) leaves room in how you read the outcome.
Key figures of Alternative Income REIT PLC
How large is the market capitalisation of Alternative Income REIT PLC (AIRE)?
The market capitalisation of Alternative Income REIT PLC is 55.4M GBX. 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/S ratio of Alternative Income REIT PLC (AIRE)?
The price-to-sales ratio of Alternative Income REIT PLC is 6.47 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Alternative Income REIT PLC (AIRE)?
Earnings per share at Alternative Income REIT PLC are £0.0900 (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alternative Income REIT PLC (AIRE)?
The dividend yield of Alternative Income REIT PLC is 8.6% (payout 65.6%). 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 Alternative Income REIT PLC (AIRE)?
The net margin of Alternative Income REIT PLC is 84.7% (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 Alternative Income REIT PLC (AIRE)?
The return on equity (ROE) of Alternative Income REIT PLC is 10.3% (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 Alternative Income REIT PLC (AIRE)?
On an EBIT basis the return on assets of Alternative Income REIT PLC is 6.1% (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 Alternative Income REIT PLC (AIRE)?
The operating margin of Alternative Income REIT PLC is 78.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alternative Income REIT PLC (AIRE)?
Revenue at Alternative Income REIT PLC is growing +7.3% versus a year earlier (3y avg +2.7%). 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 Alternative Income REIT PLC (AIRE)?
Earnings per share at Alternative Income REIT PLC are growing −10.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Alternative Income REIT PLC (AIRE) carry?
The net debt of Alternative Income REIT PLC is 37.8M GBX (fiscal year 2025, ≈ 4.2 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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