German High Street Properties A/S Class B (GERHSP) fair value: what the stock is really worth
As of Oct 9, 2026: fair value of German High Street Properties A/S Class B DKK 25.15, price DKK 67.00, upside -62.5%, quality 51 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range kr 53.07 – kr 148.59 · fair‑value band kr 5.03 – kr 45.62 · the kr 67.00 price screens above the kr 25.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 3, 2026.
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German High Street Properties A/S invests in retail properties in Scandinavia, Germany, Switzerland, and England. It provides shops, offices, and residential units to small and institutional stock investors, tenants, and renters.
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The company was formerly known as Investea German High Street II A/S and changed its name to German High Street Properties A/S in April 2010. The company was incorporated in 2007 and is based in Charlottenlund, Denmark.
Stock analysis
German High Street Properties A/S Class B (GERHSP) currently trades at kr 67.00, while our model-based Fair Value estimate is kr 25.15, 62.5% 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 kr 78.18 per share, and 1 of the 5 models we run sit above the kr 67.00 price.
Bear case: the Growth DCF group reads lowest at kr 13.70, and 4 of the 5 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 5.03 (bear) to kr 45.62 (bull), the price of kr 67.00 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 51/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
German High Street Properties A/S Class B reported revenue of €5.0M in FY2025 versus €5.7M in FY2021, a compound −3.2%/yr. Reported net income was −€5.9M in FY2025.
Key figures
Market cap 245M DKK (≈ $36.7M) · P/S ratio 47.3 · EPS (TTM) kr −14.88 · Net margin −118% · Return on equity −11.4% · Return on assets (EBIT) 1.1% · Operating margin 18.4% · Revenue (TTM) €5.0M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −62%, GERHSP screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (kr 0.8300 to kr 78.18). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bearkr 5.03Fair Value kr 25.15Bullkr 45.62
Price kr 67.00 · Upside -62.5%
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.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.29/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.8%
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.
+2.1%
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.
−3.5%
Start year 2020 (pandemic). Over 10 years: −1.1% a year
Revenue growth 18 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.
+13.0%
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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.
59.4% (2019) → 39.3% (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).
+19.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +16.8% a year for the price.
Compare German High Street Properties A/S Class B 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.Real Estate Services · 533 stocks
Beats the industry median on 1/11 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−62.5% · Bottom 25%
Profitability
Return on assets−6.2% · Bottom 25%
Net margin (12 months)−145.2% · Bottom 25%
Operating margin (12 months)18.4% · Below median
Growth and dividend
Revenue growth−1.0% · Below median
Balance sheet
Debt / equity0.52× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/B0.64× · Cheaper than median
P/S (12 months)7.31× · Priciest 25%
Price / free cash flow25.5× · Priciest 25%
PEG3.46× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)0· sector 17
PAST (return on equity)0· sector 17
HEALTH (low debt)74· sector 83
DIVIDEND (yield)0· sector 61
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "German High Street Properties A/S Class B Fair Value". https://www.fairvalue-calculator.com/stock/GERHSP
Frequently asked questions
Is German High Street Properties A/S Class B (GERHSP) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 25.15 versus a price of kr 67.00, about −62% upside (overvalued).
What is the fair value of GERHSP?
Our model-based fair value for German High Street Properties A/S Class B is kr 25.15 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 67.00.
What is the quality score of GERHSP?
German High Street Properties A/S Class B has a Quality Score of 51/100. 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 German High Street Properties A/S Class B (GERHSP)?
Our model-based price target is the fair value of kr 25.15 (as of Oct 3, 2026) from 8 valuation models. Cautious scenario kr 5.03, optimistic scenario kr 45.62. It is a calculation from audited fundamentals, not an analyst target.
What is the German High Street Properties A/S Class B stock forecast for 2026?
Our models put fair value at kr 25.15, about −62% upside versus a price of kr 67.00 (overvalued). Cautious scenario kr 5.03, optimistic scenario kr 45.62. The calculation is refreshed regularly with new filings.
What is the revenue of German High Street Properties A/S Class B (GERHSP)?
German High Street Properties A/S Class B reported trailing-twelve-month revenue of about €5.0M (latest available figure, as of Oct 3, 2026).
What growth is priced into German High Street Properties A/S Class B (GERHSP)?
For today's price to be fair in a discounted-cash-flow model, German High Street Properties A/S Class B would have to grow free cash flow by +19.4 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.5 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of GERHSP use?
Our models discount German High Street Properties A/S Class B at 8.5 %: a base by market capitalisation (nano), damped by beta 0.56, country premium for Denmark. 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 German High Street Properties A/S Class B that is +19.4 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has German High Street Properties A/S Class B (GERHSP) delivered so far?
Over the past 5 years revenue at German High Street Properties A/S Class B grew -3.5 % a year. The price currently implies +19.4 % 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 German High Street Properties A/S Class B (GERHSP) growing?
The median revenue growth in the sector is +2.3 % a year. That is the yardstick for the growth priced into German High Street Properties A/S Class B (+19.4 % 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 German High Street Properties A/S Class B (GERHSP)?
The free-cash-flow yield on the price is 4.41 %: that much free cash flow German High Street Properties A/S Class B produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of German High Street Properties A/S Class B (GERHSP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For German High Street Properties A/S Class B it is kr 25.15 per share (as of Oct 3, 2026), against a price of kr 67.00. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is German High Street Properties A/S Class B stock overvalued or undervalued in 2026?
As of Oct 3, 2026, GERHSP trades above its calculated fair value: price kr 67.00, fair value kr 25.15, a gap of about −62% (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 GERHSP?
No. The price is what the market pays today (kr 67.00); the fair value is what the company's own numbers justify (kr 25.15). For German High Street Properties A/S Class B the two are kr 41.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is German High Street Properties A/S Class B worth?
The market values German High Street Properties A/S Class B at about 245M DKK (market capitalisation, as of Oct 3, 2026). Per share that is kr 67.00; our models calculate a fair value of kr 25.15 per share.
What do the bullish and bearish scenarios say about GERHSP?
Our models span a range for German High Street Properties A/S Class B: cautious scenario kr 5.03, base kr 25.15, optimistic kr 45.62 per share (as of Oct 3, 2026, price kr 67.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of GERHSP?
The PEG ratio of German High Street Properties A/S Class B is 3.46 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of German High Street Properties A/S Class B (GERHSP)?
Balance-sheet figures for German High Street Properties A/S Class B (as of Oct 3, 2026): return on equity −11.4%, debt of 0.52 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is GERHSP from its 52-week high?
German High Street Properties A/S Class B trades at kr 67.00, about 16% below its 52-week high of kr 79.50 and 13% above the low of kr 59.50 (as of Oct 9, 2026). Distance from the high says nothing about value: that is what the fair value of kr 25.15 is for.
Which stocks are comparable to German High Street Properties A/S Class B?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Swire Properties Limited, Cellnex Telecom, S.A, 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 German High Street Properties A/S Class B stock attractive at the current price?
The data as of Oct 3, 2026: price kr 67.00, calculated fair value kr 25.15 (−62%), Quality Score 51/100, 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 GERHSP calculated?
We run German High Street Properties A/S Class B through 8 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 kr 25.15, 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 14.7 % above its aggregate fair value. German High Street Properties A/S Class B 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 German High Street Properties A/S Class B (GERHSP)?
The closing price on Oct 9, 2026 was kr 67.00. Our model-based fair value is kr 25.15, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with German High Street Properties A/S Class B right now?
The price sits above even our optimistic bull case (kr 45.62). The favourable scenario is already priced in. The model range is unusually wide (kr 5.03 to kr 45.62). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of German High Street Properties A/S Class B
How large is the market capitalisation of German High Street Properties A/S Class B (GERHSP)?
The market capitalisation of German High Street Properties A/S Class B is 245M DKK (≈ $36.7M). 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 German High Street Properties A/S Class B (GERHSP)?
The price-to-sales ratio of German High Street Properties A/S Class B is 47.3 (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 German High Street Properties A/S Class B (GERHSP)?
Earnings per share at German High Street Properties A/S Class B are kr −14.88. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of German High Street Properties A/S Class B (GERHSP)?
The net margin of German High Street Properties A/S Class B is −118% (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 German High Street Properties A/S Class B (GERHSP)?
The return on equity (ROE) of German High Street Properties A/S Class B is −11.4% (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 German High Street Properties A/S Class B (GERHSP)?
On an EBIT basis the return on assets of German High Street Properties A/S Class B is 1.1% (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 German High Street Properties A/S Class B (GERHSP)?
The operating margin of German High Street Properties A/S Class B is 18.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at German High Street Properties A/S Class B (GERHSP)?
Revenue at German High Street Properties A/S Class B is growing −1.0% versus a year earlier (3y avg +2.1%). 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 German High Street Properties A/S Class B (GERHSP)?
Earnings per share at German High Street Properties A/S Class B are growing −59.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does German High Street Properties A/S Class B (GERHSP) carry?
The net debt of German High Street Properties A/S Class B is €27.1M (fiscal year 2025, ≈ 18.8 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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Oct 3, 2026