Patrizia Immobilien (PAT) AI Stock Analysis

• Market Cap: €643.83M
• Dividend Yield: 4.52%
• Average Volume (3M): 46.05K
• Price to Earnings (P/E): 29.7
• Beta (1Y): 0.71
• Revenue Growth: -9.25%
• EPS Growth: N/A
• Country: DE
• Employees: 887
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 0.00
• Shares Outstanding: 92,351,480
• 10 Day Avg. Volume: 56,611
• 30 Day Avg. Volume: 46,055
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €9.35
• Price Target Upside: 20.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 59 Neutral
• Price Target: €8.00 ▲(3.23% Upside)

Patrizia Immobilien's overall stock score is primarily impacted by its financial performance challenges, including declining revenue growth and cash flow volatility. Technical indicators suggest bearish sentiment, while valuation metrics indicate potential overvaluation despite a reasonable dividend yield.

Patrizia Immobilien Business Overview & Revenue Model

Company Description

Patrizia Immobilien (PAT) is a leading European real estate investment and asset management company specializing in the residential, commercial, and mixed-use sectors. With a strong focus on sustainable investments and a commitment to enhancing property value, PAT provides a range of services including property management, investment advisory, and development services to institutional and private investors. The company operates across multiple European markets, leveraging its extensive expertise to optimize returns on real estate assets.

How the Company Makes Money

Patrizia Immobilien generates revenue primarily through its asset management services, which involve managing investment funds and portfolios for institutional clients, including pension funds and insurance companies. The company earns management fees based on the assets under management (AUM) and performance fees tied to the success of the investments. Additionally, PAT generates income from property sales, leasing activities, and development projects, capitalizing on market trends and property appreciation. Strategic partnerships with local real estate developers and investment firms further enhance its ability to identify lucrative investment opportunities, contributing to its overall earnings.

Patrizia Immobilien Financial Statement Overview

Summary

Patrizia Immobilien shows strong gross profit margins and a stable balance sheet with low leverage. However, it faces challenges with declining revenues, low profitability margins, and deteriorating cash flows, indicating a need for improved operational efficiency and cash flow management.

Income Statement

Patrizia Immobilien's revenue has generally declined over the years, with a TTM revenue of €286 million compared to €292 million in 2023. The gross profit margin remains strong at approximately 88.7% TTM, indicating effective cost management. However, the net profit margin is relatively low at 4.5% TTM, highlighting potential profitability issues. The EBIT and EBITDA margins are also modest, suggesting room for operational efficiency improvements.

Balance Sheet

The company's balance sheet is stable, with a debt-to-equity ratio of 0.29 TTM, reflecting a conservative approach to leverage. The equity ratio of 62.7% TTM indicates a strong equity base. Return on equity is moderate at 1.2% TTM, suggesting limited returns on shareholder investments. Overall, the balance sheet reflects financial stability with manageable debt levels.

Cash Flow

Patrizia Immobilien faced a significant decline in operating cash flow from €73.8 million in 2023 to €12.2 million TTM, impacting free cash flow, which turned negative at -€6.3 million TTM. The free cash flow to net income ratio is negative, indicating cash flow challenges. These factors highlight potential liquidity concerns and the need for improved cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	253.47M	255.67M	292.43M	346.29M	318.16M	301.69M
Gross Profit	235.82M	238.22M	246.56M	274.67M	296.91M	279.82M
EBITDA	64.13M	27.75M	38.15M	69.14M	131.35M	110.59M
Net Income	21.76M	12.87M	-5.81M	7.28M	47.90M	37.70M
Balance Sheet
Total Assets	1.68B	1.73B	2.00B	2.05B	2.06B	1.96B
Cash, Cash Equivalents and Short-Term Investments	138.55M	185.09M	350.68M	451.50M	357.01M	495.46M
Total Debt	316.78M	318.31M	375.92M	276.98M	439.46M	369.40M
Total Liabilities	594.77M	610.80M	803.32M	720.54M	742.96M	692.58M
Stockholders Equity	1.05B	1.08B	1.16B	1.26B	1.28B	1.24B
Cash Flow
Free Cash Flow	34.05M	-7.66M	65.44M	114.97M	22.18M	63.76M
Operating Cash Flow	37.31M	10.82M	73.83M	120.91M	29.34M	82.87M
Investing Cash Flow	-74.48M	-238.36M	-12.89M	76.85M	-42.50M	-15.31M
Financing Cash Flow	-6.30M	32.08M	-70.57M	-186.87M	-144.63M	-18.30M

Patrizia Immobilien Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PAT, the sentiment is Neutral. The current price of 7.75 is above the 20-day moving average (MA) of 7.63, below the 50-day MA of 7.95, and above the 200-day MA of 7.49, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 45.41 is Neutral, neither overbought nor oversold. The STOCH value of 43.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:PAT.

Patrizia Immobilien Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VIH1	70 Outperform	€255.18M	7.06	4.20%	0.53%	2.95%	-72.11%
FC9	70 Outperform	€111.54M	5.11	16.18%	3.75%	-3.72%	149.34%
Sector *	60 Neutral	€2.88B	7.94	0.78%	4.84%	-0.25%	11.22%
PAT	59 Neutral	€643.83M	29.73	2.00%	4.52%	-9.25%	―
DMRE	45 Neutral	€71.22M	―	-46.32%	―	-52.37%	20.66%