Northview Residential REIT (NRRUF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Northview Residential REIT $15.46, price $11.59, upside +33.4%, quality 52 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. As of Sep 24, 2026.
How to read this chart
11‑month range $10.18 – $11.59 · fair‑value band $5.92 – $22.92 · the $11.59 price screens below the $15.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
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Northview Residential REIT is a real estate investment trust amended and restated most recently on August 21, 2023. Northview's primary purpose is to acquire, own, and operate a portfolio of income-producing rental properties in secondary markets within Canada. Northview was established under the laws of the province of Ontario.
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Northview Residential REIT is a real estate investment trust amended and restated most recently on August 21, 2023. Northview's primary purpose is to acquire, own, and operate a portfolio of income-producing rental properties in secondary markets within Canada. Northview was established under the laws of the province of Ontario. The head and registered office of Northview is located at Suite 200, 6131 6 Street SE, Calgary, Alberta, T2H 1L9. Northview's Class A Units trade on the Toronto Stock Exchange. Northview Residential REIT was founded and incorporated on April 14, 2020 in Ontario, Canada.
Stock analysis
Northview Residential REIT (NRRUF) currently trades at $11.59, while our model-based Fair Value estimate is $15.46, implying the stock looks roughly 25.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $18.23 per share, and 11 of the 16 models we run sit above the $11.59 price.
Bear case: the Growth DCF group reads lowest at $9.05, and 5 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: $5.92 (bear) to $22.92 (bull), the price of $11.59 sits inside 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 52/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Northview Residential REIT reported revenue of C$278M in FY2025 versus C$192M in FY2021, a compound +9.7%/yr. Reported net income was C$54.9M in FY2025.
Key figures
Market cap $458M · P/E ratio 12.6 · P/S ratio 2.49 · EPS (TTM) $0.9100 · Net margin 19.7% · Return on assets (EBIT) 5.1% · Free cash flow C$67.3M · Net debt C$1.5B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
For context, the median of 10 Real Estate peers we cover trades at 11% fair-value upside, at 33%, NRRUF screens cheaper than that median.
Fair Value models
Bear $5.92Fair Value $15.46Bull $22.92
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 9 months old). Earnings retained since then (C$0.6806 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. 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.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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.7%
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.
+11.9%
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
−22.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−22.2%
Dividend (yield on the price)0.0%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+22.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CAD, Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +19.6% a year for the price and +0.3% for the forecasts.
Compare Northview Residential REIT with another stock
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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 - Residential · 47 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+33.4% · Above median
Profitability
Return on assets0.0% · Below median
Net margin (TTM)19.7% · Above median
Operating margin (TTM)0.0% · Below median
Growth and dividend
Revenue growth0.0% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity1.47× · Highest 25%
Valuation Multiplesvs REIT - Residential median · lower = cheaper
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Is Northview Residential REIT (NRRUF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $15.46 versus a price of $11.59, about +33% upside (undervalued).
What is the fair value of NRRUF?
Our model-based fair value for Northview Residential REIT is $15.46 (as of Sep 24, 2026), built from audited fundamentals. The current price: $11.59.
What is the quality score of NRRUF?
Northview Residential REIT has a Quality Score of 52/100. 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 Northview Residential REIT (NRRUF)?
Our model-based price target is the fair value of $15.46 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario $5.92, optimistic scenario $22.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Northview Residential REIT stock forecast for 2026?
Our models put fair value at $15.46, about +33% upside versus a price of $11.59 (undervalued). Cautious scenario $5.92, optimistic scenario $22.92. The calculation is refreshed regularly with new filings.
What growth is priced into Northview Residential REIT (NRRUF)?
For today's price to be fair in a discounted-cash-flow model, Northview Residential REIT would have to grow free cash flow by +22.1 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +9.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of NRRUF use?
Our models discount Northview Residential REIT at 11.2 %: a base by market capitalisation (small), country premium for USA. 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 Northview Residential REIT that is +22.1 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Northview Residential REIT (NRRUF) delivered so far?
Over the past 4 years revenue at Northview Residential REIT grew +9.7 % a year. The price currently implies +22.1 % 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 Northview Residential REIT (NRRUF) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Northview Residential REIT (+22.1 % 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 Northview Residential REIT (NRRUF)?
The free-cash-flow yield on the price is 11.35 %: that much free cash flow Northview Residential REIT produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Northview Residential REIT (NRRUF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Northview Residential REIT it is $15.46 per share (as of Sep 24, 2026), against a price of $11.59. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Northview Residential REIT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NRRUF trades below its calculated fair value: price $11.59, fair value $15.46, a gap of about +33% (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 NRRUF?
No. The price is what the market pays today ($11.59); the fair value is what the company's own numbers justify ($15.46). For Northview Residential REIT the two are $3.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Northview Residential REIT worth?
The market values Northview Residential REIT at about $458M (market capitalisation, as of Sep 24, 2026). Per share that is $11.59; our models calculate a fair value of $15.46 per share.
What do the bullish and bearish scenarios say about NRRUF?
Our models span a range for Northview Residential REIT: cautious scenario $5.92, base $15.46, optimistic $22.92 per share (as of Sep 24, 2026, price $11.59). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NRRUF?
Northview Residential REIT trades at a price-to-earnings ratio of 12.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $15.46 is built from several models across several years. Other multiples: P/B 0.6, EV/EBITDA 13.1.
How solid is the balance sheet of Northview Residential REIT (NRRUF)?
Balance-sheet figures for Northview Residential REIT (as of Sep 24, 2026): debt of 1.47 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
Which stocks are comparable to Northview Residential REIT?
From the same area (Real Estate) we also value Comcast Holdings, Essex Property Trust, Inc, Sun Communities, Inc, Mid-America Apartment Communities, Inc, 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 Northview Residential REIT stock attractive at the current price?
The data as of Sep 24, 2026: price $11.59, calculated fair value $15.46 (+33%), Quality Score 52/100, from 16 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 NRRUF calculated?
We run Northview Residential REIT through 16 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 $15.46, 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 14.9 % above its aggregate fair value. Northview Residential REIT currently trades 25 % 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 Northview Residential REIT (NRRUF)?
The closing price on Sep 25, 2026 was $11.59. Our model-based fair value is $15.46, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Northview Residential REIT right now?
The model range is unusually wide ($5.92 to $22.92). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (52/100) 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.
Key figures of Northview Residential REIT
How large is the market capitalisation of Northview Residential REIT (NRRUF)?
The market capitalisation of Northview Residential REIT is $458M. 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 Northview Residential REIT (NRRUF)?
The price-to-sales ratio of Northview Residential REIT is 2.49 (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 Northview Residential REIT (NRRUF)?
Earnings per share at Northview Residential REIT are $0.9100 (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Northview Residential REIT (NRRUF)?
The net margin of Northview Residential REIT is 19.7% (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 EBIT return on assets of Northview Residential REIT (NRRUF)?
On an EBIT basis the return on assets of Northview Residential REIT is 5.1% (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.
How much net debt does Northview Residential REIT (NRRUF) carry?
The net debt of Northview Residential REIT is C$1.5B (fiscal year 2025, ≈ 22.7 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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Sep 24, 2026