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TR Property Investment Trust plc (TRY) Fair Value & Analysis

Financial Services · GB · Market cap 998M GBX

TP TR Property Investment Trust plc TRY · LSE
Price£3.08
Fair Value£2.20
Upside-28.5%
Quality62/100
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Evidence: Low Range £1.22 – £3.03

Fair value as of: Jun 26, 2026

From 3 valuation models · updated 7 days ago

Share price +2.6% over the past month.

Price vs Fair Value (12 months)

£3.51 £2.87 Fair Value £2.20 Jul 2025 Jul 2026

12‑month range £2.87 – £3.51 · fair‑value band £1.22 – £3.03 · the £3.08 price screens above the £2.20 fair value. As of Jun 26, 2026.

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Analysis

TR Property Investment Trust plc (TRY) currently trades at £3.08, while our model-based Fair Value estimate is £2.20 — implying the stock looks roughly 28.5% overvalued today. We read business quality at 62/100 (solid quality), in the Financial Services 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: low).

Revenue declined 8.5% year over year. It earns a return on equity of -3.1%. Net debt stands at £112M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) −20.0M GBX
Revenue growth (YoY) -8.5%
Return on equity -3.1%
Free cash flow −23.5M GBX FY2025
Operating margin 96.2%
EPS (TTM) £-0.1100
More key figures
Dividend yield 5.1%
EPS growth (YoY) -7.3%
Net debt 112M GBX FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

TR Property Investment Trust plc is a closed-ended equity mutual fund launched by F&C Investment Business Ltd. The fund is managed by Thames River Capital LLP. It invests in public equity markets of Europe. The fund seeks to invest in stocks of companies that are operating in the real estate sector. It primarily invests in growth stocks of companies across all market capitalizations. The fund also makes direct investments in property. It benchmarks the performance of its portfolio against the FTSE EPRA/NAREIT Developed Europe Capped Net Total Return Index. TR Property Investment Trust plc was formed in 1905 and is domiciled in the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TR Property Investment Trust plc reported revenue of −£15.6M in FY2025 versus £254M in FY2021. Reported net income was −£27.4M in FY2025.

Revenue
FY21 £254M
FY22 £287M
FY23 −£540M
FY24 £228M
FY25 −£15.6M
Net income
FY21 £234M
FY22 £282M
FY23 −£547M
FY24 £196M
FY25 −£27.4M

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Frequently asked questions

Is TR Property Investment Trust plc (TRY) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £2.20 versus a price of £3.08 — about −28% (overvalued). Model-based estimate, not financial advice.
What is the fair value of TRY?
Our model-based fair value for TR Property Investment Trust plc is £2.20 (as of Jun 26, 2026), built from audited fundamentals. The current price is £3.08.
What is the quality score of TRY?
TR Property Investment Trust plc has a Quality Score of 62/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the net profit margin of TRY?
The net profit margin of TR Property Investment Trust plc is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does TR Property Investment Trust plc pay a dividend?
TR Property Investment Trust plc currently shows a dividend yield of about 5.09% relative to its recent price (as of Jun 26, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.