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LHRREIT Fair Value & Analysis

Real Estate · TH · Market cap 1.4B THB

L LHRREIT LHRREIT · BK
Price4.40 THB
Fair Value7.57 THB
Upside+72.1%
Quality68/100
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Mixed Growth
Highly profitable · 159.4% net margin
generates free cash flow
Ranks above peers (7/11)
Moderate moat 47/100
Evidence: High Range 5.71 THB – 9.00 THB Share as image

Fair value as of: Jul 13, 2026

From 11 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 1.24 THB to 7.57 THB (+510.5%) since Jun 26, 2026. Share price +0.9% over the past month.

A solid business, screening 72% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (5.71 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (20 months)

5.06 THB 4.09 THB Fair Value 7.57 THB Dec 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

20‑month range 4.09 THB – 5.06 THB · fair‑value band 5.71 THB – 9.00 THB · the 4.40 THB price screens below the 7.57 THB fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

LHRREIT (LHRREIT) currently trades at 4.40 THB, while our model-based Fair Value estimate is 7.57 THB, implying the stock looks roughly 72.1% undervalued today. The Quality Score stands at 68/100 (solid 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: high), always confirm before acting.

Trailing-twelve-month revenue stands at 216M THB. Revenue declined 3.9% year over year. It earns a return on equity of 9.6%. The stock trades on a trailing P/E of 5.9. Fundamentals as of Jul 13, 2026

Our scenario range runs from 5.71 THB (bear case) to 9.00 THB (bull case); at 4.40 THB, the current price sits below 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 12% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at 72%, LHRREIT 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.

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. Evidence
Highest evidence
Residual Income 8.13 THB 8.12 THB 7.44 THB 76
Growth DCF 1.28 THB 2.11 THB 3.41 THB 72
Rev-Margin DCF 3.11 THB 5.91 THB 11.72 THB 67
All 11 models by family
DCF Models
FCF DCF 1.36 THB 1.92 THB 3.58 THB 38
5Y Revenue Exit 2.80 THB 5.19 THB 10.22 THB 39
10Y Revenue Exit 2.21 THB 5.59 THB 8.01 THB 36
Multiples
P/S Multiple 5.02 THB 6.70 THB 8.37 THB 58
P/B Multiple 7.89 THB 10.51 THB 13.14 THB 55
EV/EBIT 5.71 THB 7.57 THB 9.42 THB 53
EV/Revenue 3.21 THB 4.53 THB 5.85 THB 43
Asset-Based
NCAV (Graham) 5.56 THB 7.45 THB 11.11 THB 50
Growth DCF
Growth DCF 1.28 THB 2.11 THB 3.41 THB 72
Rev-Margin DCF 3.11 THB 5.91 THB 11.72 THB 67
Economic Profit
Residual Income 8.13 THB 8.12 THB 7.44 THB 76

Widest divergence: Economic Profit (8.12 THB) versus Growth DCF (2.11 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 216M THB
Revenue growth (YoY) -3.9%
Net margin 159%
Return on equity 9.6%
Free cash flow 29.4M THB FY2025
P/E ratio 5.9
More key figures
Operating margin 5.8%
EPS (TTM) 0.7400 THB

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 65 · Market factors (momentum, volatility) 57

Profitability 37
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 98
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Land And Houses Residential Freehold And Leasehold Real Estate Investment Trust is a real estate investment trust launched and managed by Land and Houses Fund Management Co., Ltd. The fund invests on real estate markets of Thailand.

Full company description

Land And Houses Residential Freehold And Leasehold Real Estate Investment Trust is a real estate investment trust launched and managed by Land and Houses Fund Management Co., Ltd. The fund invests on real estate markets of Thailand. Land And Houses Residential Freehold And Leasehold Real Estate Investment Trust was formed on March 22, 2012 and is domiciled in Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

LHRREIT reported revenue of 340M THB in FY2025 versus 200M THB in FY2021, a compound +14.2%/yr. Reported net income was 204M THB in FY2025, compounding +6.5%/yr from FY2021.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
340M THB
Avg. growth/yr (3Y) 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.
+8.1%
Avg. growth/yr (5Y) 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.
+10.5%
Revenue +14.2%/yr
FY21 200M THB
FY22 269M THB
FY23 311M THB
FY24 34.9M THB
FY25 340M THB
Net income +6.5%/yr
FY21 159M THB
FY22 242M THB
FY23 153M THB
FY24 18.5M THB
FY25 204M THB

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Cite: Fair Value Calculator (2026). "LHRREIT Fair Value". https://www.fairvalue-calculator.com/stock/LHRREIT

Peer Group

REIT - Residential · 56 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.

Quality Score 67 · Top 25%
Fair Value upside +72% · Top 25%
Return on equity (TTM) 10% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 159% · Top 25%
Operating margin (TTM) 6% · Below median
Revenue growth -4% · Bottom 25%

Valuation Multiples vs REIT - Residential median · lower = cheaper

P/E (TTM) 7.1× · Cheaper than 75% of peers
P/B 0.39× · Cheaper than 75% of peers
P/S (TTM) 6.67× · Pricier than median
P/FCF 1.5× · Cheaper than 75% of peers

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 100 · sector 0
FUTURE 0 · sector 10
PAST 38 · sector 5
HEALTH 0 · sector 61
DIVIDEND 0 · sector 73

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
AvalonBay Communities, Inc AVB $190.80 $126.12 -34%
EQR EQR $67.86 $38.10 -44%
Essex Property Trust, Inc ESS $293.46 $177.90 -39%
Invitation Homes INVH $29.78 $16.82 -44%
Mid-America Apartment Communities, Inc MAA $133.88 $65.28 -51%
Sun Communities, Inc SUI $121.83 $114.79 -6%
UDR, Inc UDR $39.59 $19.76 -50%
American Homes 4 Rent (AMH or the General Partner) AMH $33.11 $21.44 -35%
Equity LifeStyle Properties, Inc ELS $66.05 $21.27 -68%
Camden Property Trust, an S&P 500 Company CPT $113.73 $41.87 -63%

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Frequently asked questions

Is LHRREIT overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 7.57 THB versus a price of 4.40 THB, about +72% (undervalued).
What is the fair value of LHRREIT?
Our model-based fair value for LHRREIT is 7.57 THB (as of Jul 13, 2026), built from audited fundamentals. The current price is 4.40 THB.
What is the quality score of LHRREIT?
LHRREIT has a Quality Score of 68/100. 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 revenue of LHRREIT?
LHRREIT reported trailing-twelve-month revenue of about 216M THB (latest available figure, as of Jul 13, 2026).
What is the net profit margin of LHRREIT?
The net profit margin of LHRREIT is about 159.4%, meaning it keeps roughly 159.4% of revenue as net income. Based on the latest reported figures.

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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