A Business at a Glance
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KBS Real Estate Investment Trust III, Inc. (the “Company”) is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) and it intends to continue to operate in such a manner. As used herein, the terms “we,” “our” and “us” refer to the Company and as required by context, KBS Limited Partnership III, a Delaware limited partnership, which we refer to as our “Operating Partnership,” and to their subsidiaries. We conduct our business primarily through our Operating Partnership, of which we are the sole general partner. We have invested in a diverse portfolio of real estate investments. As of December 31, 2024, we owned 13 office properties, one mixed-use office/retail property and an investment in the equity securities of a Singapore real estate investment trust (the “SREIT”). We commenced our initial public offering on October 26, 2010, the primary portion of which terminated in July 2015.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 261M | 278M | 301M | 308M | 297M | 307M |
| Net Income | -41M | -11M | -158M | -62M | 144M | -18M |
| EPS | $-0.27 | $-0.07 | $-1.06 | $-0.42 | $0.83 | $-0.10 |
| Free Cash Flow | -836K | 768K | 27M | 57M | 83M | 83M |
| ROIC | 6.7% | 5.6% | -1.8% | -3.0% | 7.5% | 2.2% |
| Gross Margin | 72.7% | 73.8% | 74.8% | 75.7% | 76.8% | 76.7% |
| Debt/Equity | 6.50 | 5.62 | 6.49 | 3.95 | 2.36 | 1.55 |
| Dividends/Share | $0.00 | $0.00 | $0.23 | $0.60 | $0.60 | $0.60 |
| Operating Income | 119M | 99M | -35M | -95M | 140M | 49M |
| Operating Margin | 45.5% | 35.8% | -11.7% | -31.0% | 47.0% | 15.9% |
| ROE | -20.9% | -4.1% | -58.9% | -14.8% | 23.2% | -2.1% |
| Shares Outstanding | 149M | 155M | 149M | 149M | 173M | 185M |
KBS Real Estate Investment Trust III, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 32.7x vs a median of 15.2x. The company's 5-year average ROIC is 2.1% with a gross margin of 75.6%. At current prices, the estimated annualized return to fair value is -57.8%.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a 5-year average return on invested capital (ROIC) of 2.1%. This is below average and may indicate limited pricing power.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a market capitalization of $24M. It is classified as a small-cap stock.
KBS Real Estate Investment Trust III, Inc. (KBSR) does not currently pay a regular dividend.
KBS Real Estate Investment Trust III, Inc. (KBSR) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
KBS Real Estate Investment Trust III, Inc. (KBSR) reported annual revenue of $278 million in its most recent fiscal year, based on SEC EDGAR filings.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a net profit margin of -3.9%. The company is currently unprofitable.
KBS Real Estate Investment Trust III, Inc. (KBSR) generated $768 thousand in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a debt-to-equity ratio of 5.62. This indicates higher leverage, which may increase financial risk.
KBS Real Estate Investment Trust III, Inc. (KBSR) reported earnings per share (EPS) of $-0.07 in its most recent fiscal year.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a return on equity (ROE) of -4.1%. A negative ROE may indicate losses or negative equity.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a 5-year average gross margin of 75.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 14 years of financial data for KBS Real Estate Investment Trust III, Inc. (KBSR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KBS Real Estate Investment Trust III, Inc. (KBSR) has a book value per share of $1.66, based on its most recent annual SEC filing.
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