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Patrizia Immobilien
(XETRA:PAT)
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Rating:60Neutral
Price Target:
€7.50
▲(4.75% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by improving headline profitability and a stable, moderately levered balance sheet, balanced against ongoing operating-earnings volatility (negative EBIT) and softer, inconsistent free-cash-flow trends. Technical signals are largely neutral to slightly weak, while valuation is supported by the ~4.8% yield but constrained by a ~24x P/E.
Positive Factors
Revenue and Margin Recovery
The revenue rebound and improved net margin indicate stronger recent business performance and better bottom-line conversion. If sustained, this recovery can reinforce Patrizia’s ability to grow earnings from its real-asset management platform across market cycles.
Negative Factors
Volatile Operating Earnings
Repeated negative EBIT indicates that operating profitability is not yet consistently capturing the company’s gross or EBITDA strength. This volatility can make earnings less dependable and may reflect sensitivity to transaction activity, costs, and real-estate market cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Recovery
The revenue rebound and improved net margin indicate stronger recent business performance and better bottom-line conversion. If sustained, this recovery can reinforce Patrizia’s ability to grow earnings from its real-asset management platform across market cycles.
Read all positive factors
Patrizia Immobilien (PAT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€639.54M
Dividend Yield4.79%
Average Volume (3M)70.27K
Price to Earnings (P/E)24.2
Beta (1Y)0.69
Revenue Growth3.30%
EPS Growth27.90%
CountryDE
Employees816
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.31
Shares Outstanding92,351,480
10 Day Avg. Volume120,692
30 Day Avg. Volume70,270
Financial Highlights & Ratios
PEG Ratio2.26
Price to Book (P/B)0.67
Price to Sales (P/S)2.83
P/FCF Ratio12.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€10.25Price Target Upside43.16% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.26
Revenue Forecast (FY)€287.60M
Patrizia Immobilien Business Overview & Revenue Model
Company Description
Patrizia Se stands as a prominent global leader in real asset investments. For 38 years, this internationally active company has consistently delivered diverse investment opportunities in real estate and infrastructure, catering to institutional, ...
How the Company Makes Money
Patrizia primarily makes money through an asset- and investment-management model rather than relying solely on owning properties for its own account. Its core revenue streams are (1) recurring management fees earned for managing third-party capita...
Patrizia Immobilien Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 294.88M | 265.92M | 255.67M | 292.43M | 346.29M | 318.16M |
| Gross Profit | 261.65M | 192.85M | 238.22M | 246.56M | 274.67M | 296.91M |
| EBITDA | 71.94M | 59.80M | 27.75M | 55.25M | 69.14M | 131.35M |
| Net Income | 28.93M | 17.97M | 12.87M | -5.81M | 7.28M | 47.90M |
Balance Sheet | ||||||
| Total Assets | 1.72B | 1.70B | 1.73B | 2.00B | 2.05B | 2.06B |
| Cash, Cash Equivalents and Short-Term Investments | 174.62M | 175.15M | 185.09M | 350.68M | 451.50M | 357.01M |
| Total Debt | 320.54M | 323.59M | 326.45M | 375.92M | 276.98M | 439.46M |
| Total Liabilities | 565.48M | 539.03M | 610.80M | 803.32M | 720.54M | 742.96M |
| Stockholders Equity | 1.12B | 1.13B | 1.08B | 1.16B | 1.26B | 1.28B |
Cash Flow | ||||||
| Free Cash Flow | 45.68M | 58.64M | -7.66M | 65.44M | 114.97M | 22.18M |
| Operating Cash Flow | 46.09M | 58.84M | 10.82M | 73.83M | 120.91M | 29.34M |
| Investing Cash Flow | 29.14M | -3.20M | -238.36M | -12.89M | 76.85M | -42.50M |
| Financing Cash Flow | -39.57M | -34.46M | 32.08M | -70.57M | -186.87M | -144.63M |
Patrizia Immobilien Technical Analysis
Positive
7.16
Price Trends
7.61
Negative
7.34
Positive
7.41
Positive
Market Momentum
-0.02
Negative
50.29
Neutral
32.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PAT, the sentiment is Positive. The current price of 7.16 is below the 20-day moving average (MA) of 7.36, below the 50-day MA of 7.61, and below the 200-day MA of 7.41, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.29 is Neutral, neither overbought nor oversold. The STOCH value of 32.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:PAT.
Patrizia Immobilien Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €1.55B | 4.09 | 11.29% | 3.16% | 2.40% | -8.00% | |
66 Neutral | €17.57B | 4.36 | 14.27% | 6.03% | -20.61% | 907.76% | |
63 Neutral | €2.25B | 4.44 | 6.88% | 3.76% | 0.71% | 123.72% | |
60 Neutral | €639.54M | 24.23 | 2.60% | 5.03% | 3.30% | 27.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | €6.15B | 20.65 | 5.16% | ― | -11.60% | ― |
* General Sector Average
DE:PAT
Patrizia Immobilien
7.51
0.12
1.60%
DE:VNA
Vonovia
20.06
-6.96
-25.74%
DE:AT1
Aroundtown SA
2.05
-1.32
-39.17%
DE:CCAP
Corestate Capital Holding SA
0.23
-0.05
-18.35%
DE:GYC
Grand City Properties SA
9.17
-1.70
-15.64%
DE:O5G
CPI PROPERTY GROUP S.A.
0.74
-0.08
-10.37%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.