Added to YB: 2026-02-16
Pitch date: 2026-02-12
PSDL.L [bullish]
Phoenix Spree Deutschland Limited
+2.63%
current return
Author Info
No bio for this author
Company Info
The Company is a public limited company incorporated in Jersey, Channel Islands under the Companies (Jersey) Law 1991 (as amended).
Market Cap
GBP 181.1M
Pitch Price
GBP 1.71
Price Target
3.02 (+72%)
Dividend
N/A
EV/EBITDA
78.76
P/E
-6.90
EV/Sales
16.27
Sector
Real Estate Management and Development
Category
special_situation
The London-Listed Berlin Apartment Company Trading at 56 Cents on the Dollar - $PSDL.L
PSDL.L (new position): Berlin landlord w/ 2000+ apts valued €549M, trading at 44% NAV discount. Forced liquidation starts Apr 2026: co. will buy shares at full €3.49 NAV vs 171p mkt price (77% gain on redeemed shares). FY25 condo sales €36M at 3.9% premium to book prove NAV real. Berlin vacancy 1.5%, housing deficit worsening, conversion ban thru 2030 limits supply. Risks: German recession, illiquid micro-cap, 4-5yr exit
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