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US Masters Residential Property Fund (Fund) (URF) Fair Value & Analysis

Real Estate · AU · Market cap A$99.8M

UM US Masters Residential Property Fund (Fund) URF · AU
PriceA$0.1450
Fair ValueA$0.0400
Upside-72.4%
Quality95/100
Evidence: Low Range A$0.0200 – A$0.0600

Fair value as of: Jun 26, 2026

From 6 valuation models · updated 4 days ago

Price vs Fair Value (12 months)

A$0.1587 A$0.1293 Fair Value A$0.0400 Jun 2025 Jun 2026

12‑month range A$0.1293 – A$0.1587 · fair‑value band A$0.0200 – A$0.0600 · the A$0.1450 price screens above the A$0.0400 fair value. As of Jun 26, 2026.

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Analysis

US Masters Residential Property Fund (Fund) (URF) currently trades at A$0.1450, while our model-based Fair Value estimate is A$0.0400 — implying the stock looks roughly 72.4% overvalued today. We read business quality at 95/100 (high 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: low).

Trailing-twelve-month revenue stands at A$20.9M. Revenue declined 58.0% year over year. It earns a return on equity of -18.0%. Net debt stands at A$25.2M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) A$20.9M
Revenue growth (YoY) -58.0%
Net margin -270%
Return on equity -18.0%
Free cash flow −A$11.8M FY2025
Operating margin -38.6%
More key figures
EPS (TTM) A$-0.0800
EPS growth (YoY) -68.4%
Net debt A$25.2M FY2025

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

About the company

US Masters Residential Property Fund (Fund) is listed on the Australian Securities Exchange. The Fund was established to give investors exposure to US residential property and is the largest Australian-listed property trust with a primary strategy of investing in freestanding and multi-tenant US residential property in the New York metropolitan area. As of 31 December 2024, the Fund's portfolio has 623 housing units across 340 freestanding properties, with a gross asset value of approximately 710 million US dollars. The Fund conducts all its New York metropolitan area residential investment through its controlled entity US Masters Residential Property (USA) Fund, a Maryland Real Estate Investment Trust (US REIT). In June 2024, the fund created a stapled group, by stapling units in a new fund US Masters Residential Property Fund II (ARSN 676 798 468) (URFII) to existing units in the Fund. URF II was created to own a new responsible entity, US Masters Responsible Entity Limited (ACN 6…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

US Masters Residential Property Fund (Fund) reported revenue of A$21.3M in FY2025 versus A$39.6M in FY2021, a compound −14.4%/yr. Reported net income was −A$56.6M in FY2025.

Revenue −14.4%/yr
FY21 A$39.6M
FY22 A$45.8M
FY23 A$46.2M
FY24 A$36.7M
FY25 A$21.3M
Net income
FY21 A$21.1M
FY22 A$6.9M
FY23 −A$19.0M
FY24 −A$44.6M
FY25 −A$56.6M

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Similar stocks

6 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
AvalonBay Communities, Inc A1VB34 R$229.08 R$28.49 -88%
EQR EQR $64.73 $56.87 -12%
E1QR34 E1QR34 R$164.90 R$144.76 -12%
Essex Property Trust, Inc ESS $281.65 $177.90 -37%
Invitation Homes INVH $28.44 $23.59 -17%
Mid-America Apartment Communities, Inc MAA $133.89 $97.66 -27%

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Frequently asked questions

Is US Masters Residential Property Fund (Fund) (URF) undervalued?
As of Jun 26, 2026, our model estimates a fair value of A$0.0400 versus a price of A$0.1450 — about −72% (overvalued). Model-based estimate, not financial advice.
What is the fair value of URF?
Our 21-model fair value for US Masters Residential Property Fund (Fund) is A$0.0400 (as of Jun 26, 2026), built from audited fundamentals. The current price is A$0.1450.
What is the quality score of URF?
US Masters Residential Property Fund (Fund) has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of US Masters Residential Property Fund (Fund) (URF)?
US Masters Residential Property Fund (Fund) reported trailing-twelve-month revenue of about A$20.9M (latest available figure, 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.