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9.7% of simulations place fair value above current price
WHAT IS PRICED IN
Revenue-Based Reverse DCF
7.3%/yr
±4.1% · revenue growth to justify current price
FCF-Based Reverse DCF
10.9%/yr
±3.2% · FCF growth to justify current price
THE GAP
Market pricing margin compression or rising capex
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Stabilized multifamily REIT with 301 communities (102.8k units). FY2025: steady acquisition/disposal activity, $272M development capex, 5,995 unit renovations achieving 7% rent lift. Portfolio well-po...