Property For Industry Limited (PYIYF) Fair Value & Analysis
Real Estate · US · Market cap $633M
Property For Industry Limited
PYIYF · US
Fair value as of: Jul 27, 2026
From 11 valuation models · updated 14 days ago
Fair value updated Jul 27, 2026, revised from $0.9400 to $1.00 (+6.4%) since Jun 26, 2026.
A solid business, but screening 21% overvalued on our models.
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range ($0.7200 to $1.49) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (19 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.
How to read this chart
19‑month range $0.7851 – $1.26 · fair‑value band $0.7200 – $1.49 · the $1.26 price screens above the $1.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.
Analysis
Property For Industry Limited (PYIYF) currently trades at $1.26, while our model-based Fair Value estimate is $1.00, implying the stock looks roughly 20.6% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Property For Industry Limited generated revenue of $140M at a net margin of 88.8%. Revenue grew 20.2% year over year. It earns a return on equity of 7.6%. Net debt stands at $702M. Fundamentals as of Jul 27, 2026
Our scenario range runs from $0.7200 (bear case) to $1.49 (bull case); at $1.26, 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. The share trades near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -45% fair-value upside, at -21%, PYIYF 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 11 models by family
Widest divergence: Economic Profit ($2.26) versus Growth DCF ($0.3500). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 76
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
Property For Industry Limited engages in the property investment and management business in New Zealand. The company invests in industrial properties located in North Harbour, Avondale, Penrose, Mount Wellington, Manukau, Mangere, East Tamaki, Wellington, and Christchurch.
Full company description
Property For Industry Limited engages in the property investment and management business in New Zealand. The company invests in industrial properties located in North Harbour, Avondale, Penrose, Mount Wellington, Manukau, Mangere, East Tamaki, Wellington, and Christchurch. As of December 23, 2020, it operated a portfolio of 94 properties that are leased to 147 tenants. Property For Industry Limited was founded in 1994 and is based in Auckland, New Zealand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2020 – FY2024 · reported fiscal years
Property For Industry Limited reported revenue of $128M in FY2024 versus $96.1M in FY2020, a compound +7.3%/yr. Reported net income was $106M in FY2024, compounding −1.7%/yr from FY2020.
PYIYF screens 21% overvalued. Compare with Prologis, Inc →
Peer Group
REIT - Industrial · 63 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.
Valuation Multiples vs REIT - Industrial 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.
Insider activity: 40/100
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 REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $143.42 | $61.28 | -57% |
| Public Storage, a member of the S&P 500, PSA | $322.48 | $172.80 | -46% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $213.10 | $81.41 | -62% |
| Lineage, Inc LINE | $41.42 | $47.91 | +16% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.51 SGD | 2.00 SGD | -20% |
| CubeSmart CUBE | $42.09 | $25.06 | -40% |
| First Industrial Realty Trust, Inc FR | $66.99 | $21.48 | -68% |
| Rexford Industrial Realty, Inc REXR | $39.00 | $21.35 | -45% |
| STAG Industrial, Inc STAG | $41.11 | $24.31 | -41% |
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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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