2 models fit CPI Property Group and they agree: 2 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Premium(i)Bronze42
Valued as a mature, profitable company: Discounted cash flow, Graham number, and Dividend discount.
ACCE opinionCPI Property Group (O5G.DE)
Fair value (2 models)
€0.58
ACCE price target
€0.67
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 12:04 CEST.
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Rating published on 22 Oct 2026, 12:04 CEST.
Price used: €0.74 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
26.8% above
-21.1% to fair value
ACCE score
39
out of 100
1-year return
-8.6%
Dividend yield
0.00%
CPI Property Group in four questions
Plain answers, details below
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Overview
ACCE thesis
CPI Property Group owns and manages a portfolio of commercial real estate, mainly office, retail and residential assets concentrated in Central and Eastern Europe and Germany, with a sizeable income-producing rent roll. Its edge is scale in a fragmented region and a high operating margin (52.3% against a 55.2% gross margin), which means most rent falling to the top line reaches operating profit before financing costs. Revenue has contracted 7.0%, and with ROE at 1.2% the earnings base is thin, so the investment case rests on whether asset sales, leasing and debt reduction can stabilise income. At a 6.6B EUR market cap, the stock is a leveraged bet on European property values and refinancing conditions rather than a cash-generation story, and that trade-off is what a PM needs to weigh before going further. The next step is to check the debt maturity schedule and the trend in like-for-like rental income against the revenue decline.