Novavest Real Estate AG is a Swiss-listed diversified property owner with a 378M CHF market capitalisation, earning rent from commercial and residential buildings it holds on its balance sheet. The case for a closer look rests on its cash economics: a 68.0% operating margin and 83.7% gross margin are unusually high for a landlord, and an 8.0% ROE on that base points to earnings that are steady rather than spectacular. Revenue is shrinking, though, down 2.1%, so the thesis depends on whether rent roll and occupancy are stabilising or whether the portfolio is quietly eroding. The stock trades at 10.9 times trailing earnings but 15.8 times forward, which means the market expects earnings to dip, and that gap is the first question to test. At 378M CHF and with no index membership, it is a small, under-followed name where a deeper look at the lease schedule and refinancing profile is the sensible next step.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 11:04 CEST | Rating | Fairly valued | first publication | CHF 37.20 |
| 23 Oct 2026, 11:04 CEST | Fair value | CHF 33.48 | first publication | CHF 37.20 |
| 23 Oct 2026, 01:52 CEST | ACCE price target | CHF 37.50 | first publication | CHF 37.20 |
Answered from Novavest Real Estate AG fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| NREN.SW Novavest Real Estate AG | CHF 37.20 | CHF 33 | 11% above | 10.9x | 8.0% | 76 | 47 |
| STEF-B.ST Stendörren Fastigheter AB (publ) | kr 152.60 | kr 160 | 4% below | 14.8x | 5.8% | 71 | 58 |
| JOMA.ST John Mattson Fastighetsföretagen AB (publ) | kr 54.20 | kr 50 | 9% above | 7.6x | 8.3% | 76 | 55 |
| TRIAN-B.ST Fastighets AB Trianon (publ) | kr 15.75 | kr 18 | 14% below | 9.8x | 5.7% | 76 | 54 |
| ALM-PREF.ST ALM Equity AB (publ) | kr 83.00 | - | - | - | -0.7% | 27 | 39 |
| DIOS.ST Diös Fastigheter AB (publ) | kr 57.65 | kr 67 | 14% below | 7.2x | 7.5% | 76 | 59 |
| CORE-PREF.ST Corem Property Group AB (publ) | kr 195.60 | - | - | 45.3x | -13.2% | 50 | 32 |
Where NREN.SW ranks against its sector peers on each metric.