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Prime US REIT (OXMU) Fair Value & Analysis

Real Estate · SG · Market cap $230M

PU Prime US REIT OXMU · SG
Price$0.1630
Fair Value$0.2400
Upside+47.2%
Quality38/100
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Weak Growth
Solidly profitable · 15.3% net margin
Moderate debt · generates free cash flow
3.80% dividend yield
Ranks above peers (9/13)
Moderate moat 51/100
Evidence: High Range $0.1800 – $0.2400 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 4 days ago

Share price +5.2% over the past month.

Below-average quality, screening 47% undervalued on our models.

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What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case ($0.1800). The market is more pessimistic than our downside scenario.
  • 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 (5 years)

$0.5371 $0.0760 Fair Value $0.2400 May 2021 Aug 2026

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

How to read this chart

60‑month range $0.0760 – $0.5371 · fair‑value band $0.1800 – $0.2400 · the $0.1630 price screens below the $0.2400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Prime US REIT (OXMU) currently trades at $0.1630, while our model-based Fair Value estimate is $0.2400, implying the stock looks roughly 47.2% undervalued today. The Quality Score stands at 38/100 (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: high), always confirm before acting.

Over the trailing twelve months, Prime US REIT generated revenue of $133M at a net margin of 15.3%. Revenue declined 2.2% year over year. It earns a return on equity of 2.8%. Net debt stands at $607M. Fundamentals as of Aug 13, 2026

Our scenario range runs from $0.1800 (bear case) to $0.2400 (bull case); at $0.1630, 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 32% 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 -22% fair-value upside, at 47%, OXMU 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 $0.3400 $0.3100 $0.2200 76
Rev-Margin DCF $0.0200 $0.2000 74
P/S Multiple $0.1800 $0.2400 $0.3000 58
All 12 models by family
DCF Models
5Y Revenue Exit $0.0200 $0.2300 39
5Y EBITDA Exit $0.0700 $0.2900 41
10Y Revenue Exit $0.0300 36
10Y EBITDA Exit $0.0600 37
Multiples
P/S Multiple $0.1800 $0.2400 $0.3000 58
P/B Multiple $0.1800 $0.2400 $0.3000 55
EV/EBIT $0.3400 $0.5800 $0.8100 53
EV/EBITDA $0.1200 $0.2800 $0.4500 54
EV/Revenue $0.0200 $0.1900 $0.3600 43
Asset-Based
NCAV (Graham) $0.2600 $0.3500 $0.5300 50
Growth DCF
Rev-Margin DCF $0.0200 $0.2000 74
Economic Profit
Residual Income $0.3400 $0.3100 $0.2200 76

Widest divergence: Asset-Based ($0.3500) versus DCF Models ($0.0200). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) $133M
Revenue growth (YoY) -2.2%
Net margin 15.3%
Return on equity 2.8%
Free cash flow $26.0M FY2025
P/E ratio 8.2
More key figures
Operating margin 44.6%
EPS (TTM) $0.0200
Dividend yield 3.8%
EPS growth (YoY) -40.1%
Net debt $607M FY2025

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 29

Profitability 25
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 31
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 6
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

Prime US REIT listed on the Main Board of the Singapore Exchange on 19 July 2019, is a well-diversified real estate investment trust focused on stabilized income-producing office assets in the United States.

Full company description

Prime US REIT listed on the Main Board of the Singapore Exchange on 19 July 2019, is a well-diversified real estate investment trust focused on stabilized income-producing office assets in the United States. With the objective to achieve long-term growth in distributions per unit and net asset value per unit while maintaining a robust capital structure, PRIME offers investors unique exposure to a high-quality portfolio of 13 Class A freehold office properties which are strategically located in 12 key U.S. office markets. PRIME's portfolio has a total carrying value of US1.4 billion dollars as of 31 December 2025. Prime US REIT was incorporated in 2018 in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Prime US REIT reported revenue of $124M in FY2025 versus $145M in FY2021, a compound −3.7%/yr. Reported net income was $20.3M in FY2025, compounding −26.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$124M
Latest YoY
−6.1%
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.
−7.0%
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.
−2.8%
Avg. growth/yr (9Y) 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.
+1.6%
Revenue −3.7%/yr
FY21 $145M
FY22 $155M
FY23 $150M
FY24 $132M
FY25 $124M
Net income −26.1%/yr
FY21 $68.2M
FY22 −$26.9M
FY23 −$116M
FY24 $8.0M
FY25 $20.3M

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Cite: Fair Value Calculator (2026). "Prime US REIT Fair Value". https://www.fairvalue-calculator.com/stock/OXMU

Peer Group

REIT - Office · 71 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 40 · Bottom 25%
Fair Value upside +47% · Top 25%
Return on equity (TTM) 3% · Above median
Return on assets 3% · Above median
Net margin (TTM) 15% · Above median
Operating margin (TTM) 45% · Above median
Revenue growth -2% · Below median
Dividend yield (TTM) 3.8% · Below median
Debt / equity 0.76× · Higher than median

Valuation Multiples vs REIT - Office median · lower = cheaper

P/E (TTM) 8.2× · Cheaper than 75% of peers
P/B 0.30× · Cheaper than 75% of peers
P/S (TTM) 1.73× · Cheaper than 75% of peers
P/FCF 8.8× · Cheaper than median

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 96 · sector 20
FUTURE 0 · sector 0
PAST 11 · sector 6
HEALTH 62 · sector 66
DIVIDEND 76 · sector 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 - Office stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €15.23 €5.66 -63%
BXP, Inc BXP $67.95 $53.27 -22%
Vornado Realty Trust VNORP $51.00 $40.45 -21%
Alexandria Real Estate Equities, Inc ARE $48.06 $58.69 +22%
Hudson Pacific Properties, Inc HPP $14.31 $4.28 -70%
Mapletree Pan Asia Commercial Trust N2IU 1.27 SGD 1.14 SGD -10%
Cousins Properties Incorporated CUZ $29.49 $17.46 -41%
Kilroy Realty Corporation KRC $36.24 $40.37 +11%
Keppel DC REIT AJBU 2.21 SGD 1.68 SGD -24%
DEXUS DXS A$5.96 A$4.49 -25%

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Frequently asked questions

Is Prime US REIT (OXMU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $0.2400 versus a price of $0.1630, about +47% (undervalued).
What is the fair value of OXMU?
Our model-based fair value for Prime US REIT is $0.2400 (as of Aug 13, 2026), built from audited fundamentals. The current price is $0.1630.
What is the quality score of OXMU?
Prime US REIT has a Quality Score of 38/100. 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 Prime US REIT (OXMU)?
Prime US REIT reported trailing-twelve-month revenue of about $133M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of OXMU?
The net profit margin of Prime US REIT is about 15.3%, meaning it keeps roughly 15.3% of revenue as net income. Based on the latest reported figures.
Does Prime US REIT pay a dividend?
Prime US REIT currently shows a dividend yield of about 3.80% relative to its recent price (as of Aug 13, 2026).

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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