GVC Gaesco estimates the target price of Ktesios SOCIMI at 18.8 euros

The financial group has issued a report in which it estimates that the shares of the Socimi, which began trading on BME Growth on May 4, can reach a target price of 18.8 euros.


The share of Ktesios SOCIMI has a potential revaluation of 28.8%, up to 18.8 euros, according to a report by the independent financial group GVC Gaesco. The Socimi, leader in investment in affordable residential rental assets in non-prime areas, was listed on BME Growth on May 4 with a share price of 14 euros and is now trading at 14.6 euros.

Regarding the company’s strategy, GVC Gaesco highlights that the significant discount on the acquisition of assets translates into a high potential for increasing the NAV, which the financial group calculates at €24.8/share. In addition, it highlights that, by acquiring assets at a discount, Ktesios can also offer affordable rentals, which translates into high occupancy levels without sacrificing a high profitability, which is around 10% (YOC). The report estimates that, in 2024, EBITDA will amount to 1.2 million euros and the cash flow generated to 0.6 million euros: “The significant discount with which the assets are acquired translates into a potentially high revaluation of the net asset value (NAV)”, indicate from GVC Gaesco.

GVC Gaesco also highlights other aspects such as the geographical diversification of Ktesios’ assets, the absence of developer risk, investment in areas with a growing population and the barrier to entry for the arrival of institutional competition due to the specialized management required by this type of assets.

“Our main focus is on identifying investment opportunities in locations outside large cities with high growth potential and without institutional competition. This translates into high returns and low risk, together with a clear social impact. The analysis of GVC 2 Gaesco contributes to showing the market not only the company’s strong potential, but also our commitment to creating value for Ktesios shareholders in the long term,” says Henry Gallego, CEO of Ktesios SOCIMI.

Jesús Muela, head of GVC Gaesco’s Corporate Finance business, adds: “Ktesios has a differential idiosyncrasy, so its business model seems very interesting for some investors.”

About Ktesios SOCIMI

Founded in 2019, Ktesios is a purely residential SOCIMI specialized in the acquisition and management of assets in non-prime areas, offering affordable long-term rentals. In this way, Ktesios combines the trinomial profitability, risk and social impact. The SOCIMI has a patrimonial and prudently management approach, aimed at investors seeking stability with recurring returns. Currently, the SOCIMI has a diversified portfolio of more than 600 assets in more than 21 municipalities and 9 provinces. The SOCIMI relies on delegated and efficient management through RKS-AM.

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