Professional
Added to YB: 2026-05-08
Pitch date: 2026-05-05
AT1.DE [neutral]
Aroundtown SA
+2.75%
current return
Author Info
Viceroy Research is an independent investigative research group. Since 2016, we’ve published in-depth reports on companies around the world, identifying signs of financial misrepresentation, mismanagement, and corporate misconduct. Sign up for the newsletter.
Company Info
Aroundtown SA, together with its subsidiaries, operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.
Market Cap
EUR 2.4B
Pitch Price
EUR 2.40
Price Target
7.01 (+183%)
Dividend
3.40%
EV/EBITDA
17.38
P/E
3.87
EV/Sales
10.68
Sector
Real Estate Management and Development
Category
value
Aroundtown – Annual Report Update The Long Thesis is intact.
AT1.DE (holding update): FY25 EPRA NTA €7.8/sh (+5% YoY) on +1.6% LFL revaluation, €790M disposals 19% above cost & 1% below book. FFO €288M (€0.26/sh), EPRA LTV down 130bps to 58.3%. Reinstated €0.08 div + €250M buyback = 10%+ yield. 4-for-1 GCP exchange raises stake to 81.5%, unlocks 2/3 control & €35M FFO uplift. Base PT €5.33, bull €7.01 = ~100% upside at 67% discount to NTA.
Read full article (5 min)