KBS Real Estate Investment Trust III, Inc (KBSR) Fair Value & Analysis
Real Estate · US · Market cap $134M
KBS Real Estate Investment Trust III, Inc
KBSR · US
Fair value as of: Jul 26, 2026
From 2 valuation models · updated 15 days ago
Fair value updated Jul 26, 2026, revised from $1.74 to $0.3030 (−82.6%) since Jun 26, 2026. Share price +72.9% over the past month.
Below-average quality, screening 150% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain.
- The model range is unusually wide ($0.0685 to $0.5420). 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.
- 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 26, 2026.
How to read this chart
60‑month range $0.0270 – $7.18 · fair‑value band $0.0685 – $0.5420 · the $0.1210 price screens below the $0.3030 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Analysis
KBS Real Estate Investment Trust III, Inc (KBSR) currently trades at $0.1210, while our model-based Fair Value estimate is $0.3030, implying the stock looks roughly 150.4% undervalued today. The Quality Score stands at 31/100 (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: low), always confirm before acting.
Over the trailing twelve months, KBS Real Estate Investment Trust III, Inc generated revenue of $244M at a net margin of -23.6%. Revenue declined 9.3% year over year. It earns a return on equity of -29.6%. Net debt stands at $1.3B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $0.0685 (bear case) to $0.5420 (bull case); at $0.1210, 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. For context, the median of 10 Real Estate peers we cover trades at 28% fair-value upside, at 150%, KBSR 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 2 models by family
Widest divergence: Multiples ($0.3900) versus Asset-Based ($0.1100). Highest evidence: EV/EBITDA (54).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 26 · Market factors (momentum, volatility) 16
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
KBS Real Estate Investment Trust III, Inc. elected to be taxed as a real estate investment trust (REIT) beginning with the taxable year ended December 31, 2011, and it intends to continue to operate in such manner.
Full company description
KBS Real Estate Investment Trust III, Inc. elected to be taxed as a real estate investment trust (REIT) beginning with the taxable year ended December 31, 2011, and it intends to continue to operate in such manner. Substantially all the Company's business is conducted through KBS Limited Partnership III (the Operating Partnership), a Delaware limited partnership. The Company is the sole general partner of and owns a 0.1% partnership interest in the Operating Partnership. KBS REIT Holdings III LLC (REIT Holdings III), the limited partner of the Operating Partnership, has the remaining 99.9% interest in the Operating Partnership and is its sole limited partner. The Company is the sole member and manager of REIT Holdings III. Subject to certain restrictions and limitations, the business of the Company is externally managed by KBS Capital Advisors LLC (the Advisor), an affiliate of the Company, pursuant to an advisory agreement the Company entered with the Advisor (as amended, the Advisory Agreement). On January 26, 2010, the Company issued 20,000 shares of its common stock to the Advisor at a purchase price of 10.00 US dollars per share. As of September 30, 2025, the Advisor owned 20,857 shares of the Company's common stock. The Company owns a diverse portfolio of real estate investments. As of September 30, 2025, the Company owned 12 office properties and an investment in the equity securities of Prime US REIT, a Singapore real estate investment trust (the SREIT). The Company commenced its initial public offer (the Offering) on October 26, 2010. Upon commencing the Offering, the Company retained KBS Capital Markets Group LLC (the Dealer Manager), an affiliate of the Company, to serve as the dealer manager of the Offering pursuant to a dealer manager agreement, as amended and restated (the Dealer Manager Agreement). The Company ceased offering shares of common stock in the primary Offering on May 29, 2015, and terminated the primary Offering on July 28, 2015. The Company sold 169,006,162 shares of common stock in th
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
KBS Real Estate Investment Trust III, Inc reported revenue of $260M in FY2025 versus $280M in FY2021, a compound −1.8%/yr. Reported net income was −$78.8M in FY2025.
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Peer Group
Real Estate · 1885 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Real Estate 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.
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 Real Estate stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| Parque Arauco S.A PARAUCO | 3,940 CLP | 2,777 CLP | -30% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| Vincom Retail Joint Stock Company VRE | 25,050 VND | 36,826 VND | +47% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
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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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