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French residential and mixed-use property developer, the development subsidiary of Altarea.
French residential and mixed-use property developer, the development subsidiary of Altarea.
In one line: A development-focused REIT arm, like a homebuilder subsidiary.
Moat: none (installed base). Leverages parent Altarea's land bank and brand, but development is cyclical with no structural moat.
Headquarters: Paris, France · Founded: 1988 · Employees: 1,167
Size Altareit (AREIT.PA) is a France Real Estate company (Real Estate Investment Trusts) with a market value of $1.06B, the 137th largest of 206 France companies the cockpit tracks. Shares closed at €540.00 on 6 Nov 2026.
Performance Over six months the shares fell 9.2%, against -15.3% for the median peer and -0.4% for the France market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 20.1% over the last twelve months (peer median +3.9%); the operating margin is -1.6% (peer median 45.6%).
Valuation It trades at 1.38× book value against a peer median of 0.80× (most expensive of 21).
Price implies The share price implies a return on equity of about 7.7%; Altareit delivers -5.4%, so the price asks more than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.78B | €1.85B | €2.48B | €2.45B | €2.73B |
| Revenue growth | — | -25% | +1% | -10% | — |
| Gross profit | €270M | €276M | €354M | €325M | €552M |
| EBITDA | €4.20M | -€6.30M | €49.4M | -€298M | €136M |
| Net income | -€37.5M | -€67.1M | -€61.0M | -€326M | €74.5M |
| Free cash flow | -€76.5M | -€203M | €200M | €118M | -€22.4M |
| Capital expenditure | €100M | €101M | €28.7M | €900,000 | €1.80M |
| Total debt | n/a | €948M | €1.12B | €1.07B | €1.31B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Altareit AREIT.PA | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% |
| Nexity NXI.PA | n/a | -50% | n/a | n/a | n/a | n/a |
| Kaufman & Broad KOF.PA | $437M | -19% | 0% | 25% | 1.80× | 17.3% |
| Altarea SCA ALTA.PA | $2.05B | -31% | -20% | 2% | 1.15× | 10.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AREIT.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.7% | -1.1% | 6th lowest of 21 |
| 6-month return | -9.2% | -15.3% | 6th highest of 21 |
| Return on equity | -5.4% | 6.1% | lowest of 20 |
| Price / book | 1.38× | 0.80× | most expensive of 21 |
| ROE the price implies | 7.7% | 5.7% | 9th most demanding of 21 |
| ROE delivered | -5.4% | 6.1% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Altareit AREIT.PA | France | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% | -5.4% |
| Heiwa Real Estate REIT 8966.T | Japan | $1.06B | -15% | +24% | 8% | 1.15× | 5.5% | 8.4% |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 6% | 1.15× | 4.8% | 6.1% |
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% | 1.0% |
| Waypoint REIT WPR.AX | Australia | $1.05B | -2% | -1% | 7% | 0.80× | 8.8% | 6.8% |
| Storage King SKG.AX | Australia | $1.05B | -17% | 0% | 7% | 0.64× | 7.8% | 6.5% |
| SK REIT 395400.KS | South Korea | $1.04B | -30% | +15% | 6% | 0.73× | 4.8% | 5.7% |
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% | 5.3% |
| Japan Excellent 8987.T | Japan | $1.04B | -13% | -18% | 6% | 1.09× | 4.6% | 6.0% |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 4% | 0.69× | 8.7% | 3.9% |
| CapitaLand India Trust CY6U.SI | Singapore | $1.03B | -15% | -2% | 16% | 0.71× | 5.0% | 15.7% |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 9% | 1.37× | 5.2% | 8.6% |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | -5% | 1.05× | 16.3% | -5.3% |
| Cpi Fim OPG.WA | Poland | $1.00B | -16% | -35% | 11% | 0.58× | 5.9% | 11.1% |
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% | 6.7% |
| Ho Bee Land H13.SI | Singapore | $978M | -13% | +5% | 3% | 0.33× | 2.6% | 2.7% |
| Centerspace CSR | United States | $963M | -15% | +15% | 12% | 1.21× | 10.3% | 11.7% |
| Wereldhave WHA.AS | Netherlands | $956M | -15% | +10% | 6% | 0.79× | 6.0% | 6.3% |
| Ntt Dc REIT NTDU.SI | Singapore | $955M | -9% | -8% | n/a | 0.80× | 3.1% | n/a |
| Orchid Island Capital ORC | United States | $953M | -30% | +83% | -1% | 0.82× | 11.3% | -0.6% |
| Mitsubishi Estate Logistics REIT Investment 3481.T | Japan | $952M | -17% | -4% | 5% | 0.96× | 4.4% | 5.2% |